in Toronto’s east end hit the market with the pleasantly low asking price of $349,000. One week later, it had done something that properties all around the city had seemingly been struggling to do: bring in offers — and lots of them. A whopping 33 aspiring buyers put in a bid on the Emmott Avenue home, with the lucky winner paying $250,000 over asking.
Like Ettinger, he says the highest levels of competition can be seen in the sub-$1M market, but it’s by no means limited to that segment. What the rate-related jolt in market activity comes down to, Donaldson says, is two things: certainty and confidence. “Previously, people had to reevaluate pretty much every month when rates went up, and they got a new budget and their purchasing power dropped,” Ettinger said. “Now, people have kind of adjusted to their new purchasing power and are starting to feel a bit more comfortable with what’s happening.”
JohnPasalis SteveSaretsky BosleyRE aserealty Donaldson_Cap Lowest sales volume and MOI increasing. Yea, flurry of activity...
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