AUGUST 2019 MARKET REPORT
Luxury Real Estate- It's About 'Want'
If you are looking to sell your luxury home, the process can be tricky as luxury buyers are prepared to wait it out for the perfect home with all the right high end amenities.
Luxury home buyers are not buying because they have to, it's usually driven by ‘want’. ‘Luxury home buyers are not willing to compromise on their wish list and will wait for the right property’ says Marlene Larose and Kelly Attrell from the Larose Team.
Marlene knows and understands what luxury buyers want and how they evaluate the market. She was with Holt Renfrew for 13 years and travelled the world buying luxury merchandise.
'Whether its a coveted designer handbag, that perfect piece of jewellery or a new home, luxury buyers have a design aesthetic that crosses all areas of their lifestyle. Buyers are detail oriented and uncompromising and have the patience to wait it out to get what they want.’
‘Selling luxury properties is very much about the relationships we have in our neighbourhoods’ says Kelly. Buyers want insights they can’t get from the internet and want to know the inside info on local builders, the best schools and what is happening with development. You have to be informed and up to date on your knowledge of the area, you have to be ‘on it’ and available at all times.”
For Sellers- its important to present the home beautifully staged, clean and in perfect shape. We offer this service at a very high level to our clients’ Marlene says. We know what luxury buyers are looking for and will manage the transformation.
‘You can’t sell a multi-million dollar home for top dollar if it is in need of cleaning, staging and in poor shape.’
Contact us for a consult on how we approach Buying and Selling luxury real estate.
Home Sales Soar in July
August 6, 2019 – The Toronto Real Estate Board reported 8,595 sales through TREB’s MLS® System in July 2019 up by 24.3 percent compared to July 2018. New listings in July 2019 were up 3.7 percent and the average selling price increased by 3.2 percent to $806,755.
Active listings at the end of July were down by 9.1 percent year-over-year.
In Mississauga, unit sales in July were up a healthy 16% over last year with little change in average price - while the number of active listings is down 16% over last year. This will continue to put upward pressure on prices as we move into the fall market.
Of note, the detached market is picking up significantly with a 20 percent increase in unit sales year to date in the 1 million to 2 million price range.
“Here in South Mississauga, we are experiencing a shortage of good properties in the 1.2 to 1.7 million range- those located near good schools and amenities. If you are considering a move, now is the time as we have a long list of buyers waiting for that right home’ says Kevin Larose of the Larose Team. Prices are up over last year and we are expecting a strong fall market.
If you are thinking of moving, contact Kevin for a confidential market evaluation of your property.
Knowledge is power when selling your home. The Larose Team has an unmatched knowledge of housing values & trends, comprehensive marketing campaigns & first class service.
Contact us today to get your confidential, no-obligation market evaluation.