October 23, 2014
Vaughan real estate agent, Ilan Joseph predicts that this autumn, the real estate market is going to gain speed. According to recent statistics, the average price that homes sold for in August was approximately $546,303, an increase of 9% over last year. Moreover, detached homes sold for an average transaction price of $902,428.
Ilan Joseph believes the reason the real estate market was up in August was in preparation for the fall season. Since there are so many individuals fruitlessly looking for homes because of the intense competition, it only makes sense that they start the search early. One recent real estate story depicts a bidding war with 14 different people; it goes without saying that by the end of it the buyer paid well above the asking price.
What to Look Out For
Ilan Joseph and his team of real estate agents are warning potential buyers across the Greater Toronto Area that if they are looking to purchase a new home this fall they may be paying more than they expected. Largely due to the fact that there are more people looking to buy homes than there are homes available. Some sellers and realtors choose to hold off accepting offers until competition among homebuyers begins to drive up prices and creates bidding wars.
What Toronto’s Real Estate Market Looked Like Earlier this Year
As mentioned, homes sold for significantly more this August than they did they did last year. In addition, the demand seen throughout the condo market had also surged this year with condo sales up to 6.5%, and condo prices averaging $370,899. Moreover, this July showed the second best record of house sales ever in the Greater Toronto Area. Over the first six-months of 2014, homes for sale in Vaughan and the rest of the Greater Toronto Area also rose 34% from last year.
Ilan Joseph & His Team
Ilan Joseph and his team offerreliable real estate services to home buyers looking for homes for sale in Vaughan or Toronto. When it comes to bidding wars, Ilan Joseph often advises his clients to just walk away. Although the real estate market may currently be competitive, Ilan Joseph and his team will do anything it takes to find you the best deal in these current market conditions. On the selling end, homeowners who are looking to sell their homes can contact Joseph Ilan for a free home evaluation as there really is no better time to sell your home.
Having the right team on your side to guide you through today’s competitive real estate market is invaluable. Ilan Joseph and his Team have all the right tools to your real estate goals are met with excellence. Buy, sell, or just explore at https://www.ilanjoseph.com/ or contact Ilan directly at:
ILAN JOSEPH (VAUGHAN OFFICE)
1206 CENTRE STREET
If you have any questions about the home buying process or would like some information about the Toronto, Vaughan or Thornhill real estate market, feel free to contact me.
CONTACT ILAN NOW FOR A MORE PERSONALISED SEARCH EXPERIENCE!
Ilan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto, Thornhill and Vaughan real estate team.
You can find him on LinkedIn, Twitter, YouTube and Google+.
For over 11 years, Ilan has provided more than 1550 buyers and sellers valued advice and service, enabling them to reach their real estate goals.
He’s kind of like the Bruce Willis of real estate.