Toronto home sellers waver on trimming prices
Many Toronto-area homeowners with a property for sale are facing a dilemma as 2023 winds down: Do I cut my price now or hold out for the potential of a market rebound in the spring?
Christopher Bibby, broker with Re/Max Hallmark Bibby Group Realty, says swelling inventory is the metric he is watching most closely.
As December kicked off, the inventory of detached houses in the Toronto core was about 30 per cent higher compared with the same time last year. Condo inventory saw a jump of approximately 50 per cent in the same period.
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