“Yes, I mean, a huge increase in the number of, sort of, cancelled listings compared to last year,” John Pasalis, president of Toronto-based brokerage Realosophy, said in an interview Monday.Some are delisting, only to relist at a lower price – a “sign of mispricing in a slower market,” he said, whereas others are delisting their home and staying put.
While there are no specific or readily available data on how many homes have been delisted, there’s no doubt there’s been a slowdown in the Greater Toronto Area real estate market.home sales sank 41.4 per cent year-over-year Pasalis said so far there hasn’t been a flood of sellers rushing to the market to list their home, but that could change over the coming months.
It was bound to happen, the party went on too long, thanks JH!
Better to get out of the market before the investors exodus to the exits. Once that starts, it will be impossible to sell even after reducing the asking price by 40%
De-listers have been regretting lately. The longer they wait to re-list, the lower the price. Better take a price cut now and sell out of the rapidly declining market. More price declines in coming months and years as interest rates rise and the bubble deflates.
Most are regretting months after delist8ng as prices have been steadily dropping. Better cut the asking price, sell and get the h*** out of this market.