Bidding Wars Are The New Norm For 2020 In Durham Region
Thursday Feb 13th, 2020
February is a complete sellers market in the GTA, especially the Durham Region. There is a total lack of inventory right now and we are seeing 9 out of 10 homes sell for over the asking price. Obviously buyers don't pay over the asking price unless they are forced to by the competition. This week alone i have seen a handful of homes sell for well over $100,000 over asking. Many sellers are generating over 20 offers on their home right now. In my opinion in my 20 years in this business I have never seen a better time to sell (Yes more so than 2016 and 2017). Below are some charts for sales in Durham Region for the month of Febuary 2020 so far. Most are selling for over asking as you'll see below.
LEFT COLUM IN ASKING AND THE RIGHT COLUM IS THE ACTUAL SOLD PRICE
AJAX SOLDS FOR FEBRUARY 2020
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WHITBY SOLDS FOR FEBRUARY 2020 (LEFT SIDE IS ASKING AND RIGHT SIDE IS THE SOLD PRICE)
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OSHAWA SOLDS FOR FEBRUARY 2020 (LEFT SIDE ASK, RIGHT SIDE SOLD PRICE)
CLARINGTON SOLDS FOR FEBRUARY 2020 (LEFT SIDE IS ASKING, RIGHT SIDE IS SOLD PRICE)
Those sales are just the past 2 weeks in the dead of winter. It's snowing and cold out this morning but that isn't stoping the buyers. If you are thinking of selling my Low Commission And Full Service Selling System will save you thounsands in fees and net you the most money possible and i can prove it. For all your real estate needs please don't hesitate to contact me!
Matt Phillips Century21 905-435-5800
Low Commission And Full Service Sales Representative With Century21