Simon Huang Real Estate Broker

  In a surprising turn of events, Toronto homebuyers have gained bargaining power due to the increased supply of real estate in the city. Inevitably, this meant that homefinders in Toronto bought the houses for softer prices than the month before. All this was revealed in a comprehensive report by Central 1 Credit Union. The report discusses the unemployment rate, non-resident permit and the housing sectors. Perhaps, most notably, the report points out that increased supply of real estate properties had an impact on the price growth. This empowered the buyers to list down a negotiated price. According to the report, Toronto MLS Listings witnessed a 5.3 percent growth. In total, 674 new homes were listed in the January. Meanwhile, the sales rocketed to 6,851 units, up 3.8% from the last month. Homes that were sold stayed an average 33 days on the market. Comparatively, the average days in December 2018 were 31 days. Of course, the days on the market were impacted by rece