Happy Wednesday to you! I thought you would find this interesting. Was talking with my coach and she mentioned this was the first time in 20 years of coaching that all markets/agents she works with within Canada and the USA are HOT seller's markets.
Look at the price gains across the board - insane!
Figure with putting 20% down on a purchase and financing the 80% what your ROI would be - what even crazier is the high price markets even have had significant % gains Toronto +33.2%, Victoria +24.9% Vancouver +18.4%.
For example, lets say Toronto with 33% gain, on 1 million house, $330,000 gain on a $200,000 down payment = 165% return.
Another interesting point - Edmonton is not near as hot as most markets in North America - at least yet.
I listed an estate property in Sherwood Park Wednesday 3pm - they had an appraisal for $387,000, I told them that was accurate in my opinion and listed for $400,000, we had a full price unconditional offer within an hour - we waited for a day to present and had 4 offers and sold at $441,000 with an unconditional offer.