Toronto Luxury Real Estate: October Market Report
The month of October showed a an increase year over year in the average sale price and the number of new listings has declined year over year which is a concern. Yonge and Summerhill continues to attract multiple offers on properties. I have noticed some higher end properties are longer days on market. Boutique condo buildings continue to show very strong sales but the larger condo complexes downtown are no longer running over their asking prices as was the case.
The strategy now with properties is listing without an offer date or the willingness to accept a pre-emptive offer as buyers are a little less tolerant of the offer date process.