Real Estate Values in the Greater Toronto Area are Unrealistic

I was just reading an article in The Globe Real Estate section of the December 16, 2016 edition of The Globe and Mail. It highlights how real estate values in the Greater Toronto Area are unrealistic. The article, entitled “Shock Market”, references the real estate market in a municipality located just a short drive from where I live.

In early 2016, properties were selling for $200,000 more than asking. By May 2016, properties listed in the $1.4 Million range were selling for $500,000 above asking. In some exceptional instances, properties in this price range were selling for $1 Million more than the asking price. Continue reading “Real Estate Values in the Greater Toronto Area are Unrealistic”