With home sales activity slowing down in most major Ontario housing markets throughout the spring, prospective buyers benefitted from more wiggle r...
in most major Ontario housing markets throughout the spring, prospective buyers benefitted from more wiggle room when negotiating lower prices.According to its listing, the 1,000-square-foot condo boasts a spa-like four-piece primary ensuite with double sinks, a gas fireplace, and upgraded flooring.
The unit was first sold in February for $865,000, at a time when cheaper borrowing rates contributed to heightened demand throughout the province's real estate market and, in turn, drove home prices up. The condo was put back on the market in May 2024 at a significant price reduction , but this listing was terminated a short while later. Finally, the unit sold for $645,000 this week, representing a $220,000 loss when compared to its selling price just two years earlier.
"May was another sleepy month for housing activity in Canada, although it may prove to be the last of those now that interest rates have moved lower," said Shaun Cathcart, CREA's Senior Economist. Home sales activity recorded over Canadian MLS Systems dipped 0.6 per cent between April and May 2024, remaining slightly below the average of the last 10 years.This multimillion-dollar Toronto house hasn't been on the market since the 70sToronto condo proposed to replace strip mall has more than doubled in heightPeople absolutely hate this new Toronto condo tower
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