Toronto-area homesellers face a barrage of low-ball bids

by Carolyn Ireland

This detached Victorian-era home at 14 Delaware Ave., in Toronto, had an asking price of $2.695-million. A lowball bid of $2.1-million was rejected by the sellers, who eventually sold for $2.75-million.

The Toronto-area real estate market is increasingly drawing comparisons to the 1990s.

Sales last month in the Greater Toronto Area reached their lowest level for a month of March since 1995, points out Daren King, economist at National Bank of Canada.

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