Surprisingly, Toronto is in another housing boom right now. It’s mid-May 2009, the hot part of the spring market and we are seeing several homes sold with multiple offers and bidding wars!
The low mortgage rates are bringing more buyers into the market, at a time that there are is not an over-supply of homes for sale. Agents are holding back on accepting offers until a deadline date and pricing is getting agressive again.
This is back to 2005 – 2007 in terms of strategies.
I’m a Modern Professional REMAX agent in Etobicoke and I’m here to help you to make sense of all of this.