Explaining the current market to clients can be tough!
But it doesn't have to be that way! There is a simple way to impress your clients with your knowledge of the market without overwhelming them.
It's what separates good agents from great agents.
Introducing The Absorption Rate
If you've ever answered the question "How long will it take for my house to sell?" then this is the metric for you!
Let's take a look at the January 2020 numbers and what they mean.
|Municipality||Absorption Rate (Months)|
The table above shows that if no new listings come on the market it will take 1.96 months for the current investory to sell at the current pace of the market.
Based on the numbers above the GTA is -- most certianly -- still a seller's market!