this post was submitted on 10 Oct 2023
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[–] [email protected] 2 points 1 year ago (2 children)

My neighbors just listed their house for sale at 15% more than comparable homes that sold on the street 1-2 months ago. It seems like the break is over.

[–] [email protected] 5 points 1 year ago (2 children)

Watch for the sale price not the list price. I'm seeing listings asking for significant premiums over the average getting terminated in the GTA.

[–] [email protected] 2 points 1 year ago
[–] [email protected] 2 points 1 year ago (1 children)

We'll see, they've had at least 4 visits, so there seems to be some interest. The GMA market is also much cheaper than the GTA, so still accessible for a couple with a sensible income (single family home, $560k).

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)

Yeah, I was looking at some semi-detached places around Saint Denis when I was in Montreal this summer and I could find some that were cheaper than our 3-bedroom condo in the almost-a-suburb in the GTA. I was shocked. I'm almost certainly moving to Montreal if I can't stay in Toronto for whatever reason. The affordable properties is probably one of the least important reasons but a reason nevertheless. 🤭

[–] [email protected] 2 points 1 year ago (1 children)

It seems like your neighbours don't really want to sell their house.

[–] [email protected] 1 points 1 year ago

The house has been listed since Friday and I've seen at least 4 visits, so maybe they are actually right. I'll wait to see the sale price.