In 2020, South Etobicoke’s local real estate market was tumultuous, to say the least. Just like most other markets, the side effects of the COVID-19 pandemic meant our South Etobicoke market experienced some remarkable (and unprecedented) changes, many of which are still sending ripples through our local market today.
Now nearing the end of 2021, South Etobicoke’s real estate climate is still going through its pandemic-induced hangover, and those involved in the industry — either agent or client-side — are finding ways to cope with the relatively new atmosphere.
As we’re right in the thick of the notoriously busy fall selling season, I’m reviewing what some of the biggest trends in real estate are today, and how you can use them to your advantage to get ready for the new year ahead.
Home Preparations Are Ramping Up
In 2021, home sellers in South Etobicoke aren’t messing around. Just because there might be more buyers than sellers in today’s market doesn’t mean sellers are slacking when it comes to preparing their homes for sale.
Instead, sellers know that in order to receive the highest bids from buyers for their properties, they need to do everything they can to bring their homes up to their highest possible standards before listing them for sale, and a key component of that is staging.
If you looked around the current listings in South Etobicoke, you’d notice sellers are pulling out all the staging stops and are even going so far as to fully vacate their homes for staging professionals to work their magic in. That’s right — many sellers are actually moving out of their homes completely to allow stagers enough time and space to completely revamp their homes with new furniture and decor ahead of listing them on the market.
While it’s not always completely necessary for sellers to completely move out for a great staging job to work, it certainly helps with keeping everything neat, tidy, and in place ahead of visits from potential buyers. And, the staging doesn’t stop inside the home either.
I’ve also seen a big increase in seasonal staging taking place on listings’ exteriors too. Homes listed for sale in the fall are being staged outside with things like pumpkins, colourful foliage, and Halloween decorations, all in an effort to make them appear more ‘homey’ and move-in ready.
Staging is just one of the many pre-listing tactics proven to increase the average sales price of homes in any market, not just South Etobicoke. Find out more about why staging is so important and what else you can do to prepare your home for sale ahead of time here:
- Do You Really Need To Stage Your Home in a Hot Market?
- Design Trends Buyers Are Looking For Right Now
- Preparing Your South Etobicoke Bungalow For Sale This Fall
Marketing Assets Are A Must
In today’s digitally-driven economy, marketing is playing an increasingly large role in the sale of pretty much everything — and the real estate industry is no exception to that. Home sellers in South Etobicoke are using some of the most advanced, cutting-edge marketing practices to not only extend the reach of their listing to as many potential buyers as possible but inform the ones who are most likely to submit offers too.
These days, the more quality visual content sellers can provide potential buyers of their listing online, the more likely it is buyers will want to follow through and book a showing or tour. That’s why implementing the latest and greatest digital marketing technology into your online listing gives sellers a big advantage.
It’s not enough for listings in South Etobicoke to just have one set of professional photographs taken anymore. Instead, both daytime and twilight professional photo sessions are a must, along with a few other common practices. Tools such as 3D digital walkthrough tours are essential for the at-home buyer, and depending on the layout of the listing, motion walkthrough videos can also be highly effective at enticing interested viewers to learn more.
Curious to see these cutting-edge marketing materials in action? Browse through My Featured Listings page here and have a look for yourself.
More Transparency For Buyers
Along with the thirst for more high-quality, technologically advanced visual assets, buyers also want access to more information about a listing than ever before as well. What do I mean by that?
Well, take the home inspection, for example. In today’s South Etobicoke real estate market, it’s becoming common practice for detailed home inspection reports to be publicly available for buyers to preview, whereas before these reports were only revealed under certain circumstances.
Additionally, open houses are also coming back into the fold. While they were briefly put on hold last year and earlier in 2021 in order to reduce the spread of COVID-19, those in the real estate industry have been lobbying for their safe return. Finally, open houses are back on the menu, though they’re working a little bit differently than they used to.
Now, open houses are only available for one private viewing at a time, and all visitors are required to follow COVID safety precautions too. Hand sanitizer stations should be readily available through a listing, and all visitors must wear a mask for the duration of their time in the home.
At the end of the day, sellers are trying to do everything they can to educate and inform their potential buyer audience about their home, and it’s probably for the better. In theory, more transparency for buyers means less chance of creating buyers’ remorse or running into a rotten deal, and that can only be beneficial for buyers and the industry alike.
Buying a home in South Etobicoke is vastly different today than it was even just a few years ago. Find out more about what the current home buying process in South Etobicoke is like now by reading my useful buying guides here:
- What You Need to Know About Buying a Home In South Etobicoke
- Steps To Buying A Home In South Etobicoke
Competition Is Still Fierce
During the height of South Etobicoke’s real estate market frenzy last year, home prices were skyrocketing out of orbit as the competition for homes among buyers seemed uncontrollable. Today, while the average sold price of homes in South Etobicoke has seemed to reach a bit of a plateau, the competition for them still hasn’t relented.
This is the result of one reason more than others — South Etobicoke’s housing inventory is still low by traditional standards. That means when a home does pop up for sale, bidding wars tend to break loose. For sellers, having multiple bidders place offers on their home is a great thing, and is often encouraged through setting offer dates.
However, the most determined of buyers are countering sellers’ offer dates by submitting pre-emptive (also known as ‘bully’) offers on listings. While pre-emptive offers can give their bidders an advantage over other potential buyers, they can also be beneficial for sellers too.
Typically, pre-emptive offers on homes include a much higher offer price than the home’s original list price, which has tempted many sellers in South Etobicoke to accept them before their initial offer date.
Whichever way you spin it, competition for homes is still fierce in South Etobicoke, and it doesn’t look like letting up any time soon. At least, not until more homes go up for sale.
Are you planning on listing your South Etobicoke home for sale in the near future? Find out how you can maximize your profits and sell your home as quickly and efficiently as possible by reading through these seller-focused pages: