These are not normal times for any of us. Keeping you and your family safe, are of the utmost importance. Things are changing by the day with many uncertainties. However, there are a few things that we do know for certain about the Etobicoke Real Estate Market.
Things we know:
- Interest rates are very low
- Banks and our government are working on mortgage deferral options for those in need
- Inventory of homes for sale remains very low
- There continues to be buyers and sellers that need to move. For example, sellers that have SOLD their home and need to find their next one, buyers that are relocating to Etobicoke for work or personal reasons, and estate sales that need to be SOLD.
- Real estate has not stopped, houses continue to sell however, at a slower rate than we saw a couple of weeks ago. In South/Central Etobicoke there were 16 homes that SOLD last week, versus 45 homes a week earlier. Prices remain consistent, however, fewer homes are selling with multiple offers than we had seen earlier in the month.
- Our Re/max office is closed to the public but we’re still operating. Signing listings, purchase sale agreements, receiving deposits and closing of houses can all be done electronically.
Our Modified Approach:
The Thomponsells Team continues to work with a modified approach for the times
- We’re working exclusively from home with all the necessary tools to continue to operate without any major disruption
- More online marketing to bring together both our buyers and sellers
- We’ll continue to be active on our blog and social media
- We’ve enhanced the number of virtual tours so buyers can view homes online instead of going to open houses
- Working with our preferred lawyers and lenders to ensure mortgages get approved and homes close on time with minimal disruption
- Screening buyers before they enter one of our sellers’ homes to make sure that they are taking the necessary precautions and limiting the in-person showings
- Working with our buyers to find them their next home by pre-screening properties for them so they only visit properties of most interest
- We’re proactively working with our local agent network to bring together buyers and sellers
Summary:
As a community, we’re going to get through this together. Just remember, tough times don’t last. Tough teams do! We’re here to support you in any way we can and help you be safe and make wise real estate decisions.
Looking for more info?
Get in touch and find out how we can help.
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