Will technology make seasonal homebuying slump a thing of the past?

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An ice storm that knocked out power in a Toronto neighborhood and left streets blocked by fallen branches and power lines didn’t deter 32 groups of would-be homebuyers from making appointments to see a hot listing that got five offers on Dec. 30 and sold for $40,000 above the $499,000 asking price.

Listing agent Rochelle DeClute tells The Globe and Mail that she tried to discourage the sellers from listing right before Christmas. But as it turned out, there was tremendous interest in the home because it was in a good location and had great bones.

Geoffrey Grace of Re/Max Hallmark Realty says historically buyers take a break in December because there are fewer listings. But technology is already beginning to weaken that pattern because homebuyers can do their legwork on the Internet, he said.

“With all of the online marketing, people can get a very good idea of what our listings look like without trudging through the snow,” Grace tells The Globe and Mail’s Carolyn Ireland. Source: theglobeandmail.com.

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