HOT Toronto real estate marketWe told you a few weeks ago that we thought the spring real estate market was back despite the weather, and well, we were right. We love being right.

The Toronto real estate market is ON FIRE. 

Stories of bidding wars are making the rounds among Toronto real estate agents. A few you might enjoy:

 

  • A 10-person bidding war for a house in Roncesvalles listed at $550K, sold for $652K (and it needed pretty much everything done)
  • A 13 person bidding war on Brock Avenue in Brockton Village, listed $569K, sold $710K (I especially like this one as my house is just around the corner)
  • A 7-person bidding war for a fully renovated home near Trinity Bellwoods that sold $157K over asking (OK, our clients actually won this one and we’re all kinds of proud). 
  • Two unplanned bidding wars on some wickedly HOT lofts on Manning Avenue after only 4 days on the market (OK, we were representing both Sellers on these lofts, so YAY!) 
  • A house in Riverdale that sold for 118% of it’s asking price (listed $579K, sold 731K). 
  • It appears bully offers are back too – Buyers making aggressive offers on the first day on the market (vs waiting for the magic offer date). 

In fact, of the 57 downtown Toronto houses that have sold since February 14th, 37 houses have sold at or above asking and 17 of them have sold for at least 110% of the asking price.

So is it time to sell? You betchya.

Given most of our listings have sold, we’re getting a bit bored – so give us a call already and we’ll show you how you can get top dollar for your Toronto home too. 

  1. Melanie for your final comment about the 57 houses can you back that up with some links/proof? I am not suprised but I have some friends that think the sky is about to fall any day now and it would be interesting to pass on.

Comment

Your email address will not be published. Required fields are marked *