“Location more important than ever in a slowing Toronto housing market” via”Globe and Mail”
If you’re a homeowner or an aspiring buyer in the Toronto area, your view of the real estate market this fall depends on where you’re standing.
If you’re standing in your penthouse atop the Candy Factory Lofts on Queen Street West, you’re looking at a lineup of five agents with offers in hand. This was the scene on a recent September evening, when the contest drove the sale price up to $3.41-million, or $661,000 above the asking price.
In the core’s prime family-friendly neighbourhoods, listings for desirable houses are slim and those properties are still selling in a flurry of competing bids. By contrast, the surrounding regions seem to have an abundance of houses for sale and very choosy buyers.