Price cuts spark a July surge in Toronto-area home sales

by Carolyn Ireland

The home at 14 Brynhurst Crt. in Toronto near Yonge Street south of Lawrence Avenue sold for $1.925-million. The property was listed with an asking price of $2.199-million in May. The owners had paid $2.52-million in a bidding war at the peak of the market, the agent says.

A delayed spring market in Toronto-area real estate led to an uptick in July as buyers jumped at substantial price reductions.

“Things were very, very active out of nowhere,” says Andre Kutyan, broker with Harvey Kalles Real Estate, of the sudden spurt of deals.

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