2011 was a great year for town homes in Etobicoke located at Islington Village on Islington and Evans. The year began with 2 listings in January which were sold at an average price of $579,000. The area averaged about 2-3 new listings per month, all of which were sold off throughout the year until there was a hiccup in November.
Not only did November bring with it the cold but also a slow 2 month selling period for Islington Village. Inventory was increasing month over month and nothing was selling. Residents would call me to ask what’s going on and is there anything to be afraid of. My answer to them was that the slow winter months led buyers to believe they could possibly get a deal because inventory was so high.
Most buyers won’t summit an offer when the inventory of homes in one area is high. They would rather wait until some of the inventory is sold off to get a feeling of what the market will bear.
I told many residents to be patient and to watch what happens in the middle of January. January is a funny month in real estate. There seems to be a small push of activity in the 2ND/3RD weeks of January.
Low and behold everything that was for sale has now been either sold or sold conational and waiting inspection/financing/status certificate in the month of January.
If you’re thinking of selling now would be the opportune time to take advantage of no competition in the area, all time low mortgage rates and buyer demand that is just waiting for the next town house to go up for sale.
If you have ever wondered when the best time to sell is, well it’s staring you right in the face. Times like these don’t come around very often, so please take advantage of the current market opportunity. If you would like to get your hands a Free January 2012 Report on Islington Village town house real estate prices please click HERE!
