I wrote a post on one of my other blogs about a week ago about the number of houses close to us that have gone up for sale lately. They’re selling like hotcakes it seems!
I’m pretty sure that there was a news story a few days ago where some real estate companies were saying that house sales were slower than normal this past spring and so far this summer here in Toronto, but the way houses are going up for sale and being sold within a week or two I don’t think there’s a problem in this particular neighborhood.
I’m glad our housing market is doing so well. I keep hearing about people losing their homes in the US or requesting foreclosure help. I think it’s particularly bad in California if I’m not mistaken. I hope it doesn’t get that way here in Canada. Our economy has been doing better than the US economy since 2001. It’s starting to have some trouble, but as I said hopefully things don’t get that bad here.
One neighbor just a few houses down sold her house in just under two weeks and to the best of my knowledge it went for about $350,000. Her house is pretty much the same as ours so I guess if we put ours up for sale we’d get somewhere around that price too. Good to know but we aren’t planning on selling anytime soon.
I just hope that all of our new neighbors are nice people. We have a great neighborhood and we are all fairly friendly – at least to say hi or wave at each other when we see one an other if not actually visiting each others homes.
As lame as it is for homeowners, this is a good market for people who are looking to buy a house. I’m half-hoping that things stay the way they are for a while, at least until we have good enough credit to think about buying.
I would hate to see what is happening in the U.S. happen in Canada, but the prices in Toronto are ridiculous! I live in South Etobicoke, and have all my life, and to see that you have to pay around $400,000 for not much of a house at all is hard to swallow. I have seen a slow down in the market, where houses were selling within the week, with bidding wars, now I see house months on the market. I would be happy to see houses get some what reasonable so that when I decide to buy I can stay in this wonderful city and not have to look outside T.O.
I have to agree with Torontowindowcleaner! Prices are so high in Toronto. I know we want to see a strong successful city, but when it is so high it pushes some of it’s residents out to near by suburbs like Brampton, Bolton, and Milton I have a problem with it!
I’m writing this several months later than you wrote this post. Unfortunately, things are “spreading” a bit an it’s a little harder to sell these days. The good news is that this area is still good for buyers of homes, and many sellers are able to get more than fair prices. We can only hope that this situation holds, or gets much better 🙂