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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Experts insist that Toronto's overblown housing market isn't actually tankingDoom and gloom headlines have been the big story in the Toronto real estate world through 2022 and into the new year, but for all the negative fore...
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