Sunrise on Dundas Square by Laura DAlessandro
We had many clients prepping their homes over the summer in anticipation of the Fall market, choosing to wait for buyers and agents to be focussed again and back from any holidays and time off with children.
Happily we had a number of listings come out early and sell very strongly, some well over asking price. Almost every listing in Toronto seemed to be selling over asking in bidding wars in September if it was priced well and showed nicely. It became so much like this that buyers started pulling back. It was too depressing for them and their agents to enter into a bidding war that they were convinced they would lose. So by the beginning of October it has become not quite as predictable or common with one or two offers on offer night.
That is not to say that bidding wars are a thing of the past, it is just a little bit calmer, and not as crazy, with prices going slightly over, not massively. Which is great news for buyers!