Today is October 20th 2024, and I am seeing one of the best buyers markets for Resale Toronto Condos in about 10-12 years.
Over the last two years we have heard a lot about unaffordability, housing shortages and, the like.
Well, when a seller's market becomes a buyer's market it can take time to reach affordable levels again.
Right now I am seeing a combination of excess inventory, long days on market, falling interest rates and, seller pressure to sell.
When this happens the buyers who are in the market ready to pounce will be the winners.
How will you know?
Right now I am seeing over 600 units in Toronto available under $500,000.
The median income in Toronto is about $97000. To qualify under CMHC calculators you need an income of $100,000 and about a 10% down payment plus closing costs.
Not many people are seeing or acting on this opportunity of timing, and that is precisely the time to act.
Sometimes you may need someone to point out when opportunity opens up, especially with all the negative messaging in the media and politically right now.
That's where I can help.
Give me a call if you are looking for a first-time buyer opportunity in Resale Toronto Condos, have a good income and a healthy down payment.
Thank you,
Brian Matthews, Realtor
Re/Max Realtron TPS Realty Inc., Brokerage