I (Robyn) have been surprised by the past three deals I’ve done. My clients bought a house or condo for less than market value in all three cases. This is despite all indications that the market activity is picking up. Yesterday’s Bank of Canada rate cut will likely improve first-time homebuyers’ affordability. We are already seeing consumer confidence in the 1-1.5 million dollar price range return to the market. The last two listings that Kim has had, 332 St. John’s Rd and 602 Delaware, both had hundreds of people through the front door and thousands of eyeballs on social media. They sold over list price with multiple offers. These homes were perfect for first-time homebuyers, and we staged and marketed them well.

However, back to my last three deals for buyers, many buyers are “winning” the market right now by offering on properties that have been on the market for a while. These places are still beautiful homes, but because they’ve been sitting on the market all of August, they become old news and get hidden behind the new listings coming out this week and next week.

So, if you’re a buyer right now, look for the houses that have been out for the longest time. Chances are, they’re great options that the rest of the buyers have forgotten about.

Conversely, if you are a seller in that first-time buyer snack bracket, you’ve got a good fall market ahead of you. If your home is more than 1.5 million, it may take a little longer to sell, and you still need to be realistic about your price, but rest assured, there are buyers out there.

Good luck, everyone! Happy house hunting.