This GTA condo sold for $135,000 over asking by listing low. But in a buyer’s market, that may not work going forward

  • 📰 TorontoStar
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 55%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

This Richmond Hill two-plus-one bedroom condo was listed for $100,000s below what smaller units in the same building sold for at the real estate market’s peak.

Located steps away from the Richmond Hill GO Transit station, this two-plus-one-bedroom, 1,337 square-foot condo was listed for hundreds of thousands of dollars below what smaller units in the building sold for at the peak of the real estate market.

If you’re a buyer in Toronto, you might be wondering, is this listing price too good to be true for the space and location? We brought in our expert, realtordata from the Toronto Regional Real Estate Board Typically, listing agents will look at comparables before putting a property on the market, meaning they’ll research what similar properties sold for recently and list theirs accordingly, Litchmore said. Now, as the market continues to change almost daily, it’s more difficult to gauge what a property is worth, and you can’t assume a buyer will be willing to spend what someone six months ago might have.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

In other words… Real Estate Agent purposely listed it below market value to create traffic and bidding war.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 60. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RBC issues new warning over GTA housing marketBNN Bloomberg's Andrew Bell has the latest on a new warning from RBC about the overheated housing market in the Greater Toronto Area.
Source: CTVToronto - 🏆 9. / 84 Read more »