In Toronto, Bidding Wars Enter New Territory

I was recently interviewed by Carolyn Ireland of the Globe and Mail about the bidding wars over detached homes that have been causing a stir in Toronto real estate.

By: Carolyn Ireland
Globe and Mail

Elli Davis, an agent with Royal LePage Real Estate Services Ltd., was decrying the lack of listings a couple of weeks ago, but the opening days of March have brought new properties.

“It’s really explbidding wars globe and mailoded,” she says.

On just one day this week she listed a house at 36 Binscarth Rd. in Rosedale, a condo unit at the Prince Arthur in Yorkville, and a house at 221 Coldstream Ave. in Bedford Park.

During the agents’ open house on Binscarth, she was monitoring the offers that were arriving for 3 Delavan Ave., which was listed for $1.875-million in Forest Hill.

“I’ve got two registered offers – no three – no it looks like four,” she said, scrolling through her inbox just before noon.

The night before, Ms. Davis received 11 offers for a single-family house at 96 Major St. The location near the University of Toronto drew lots of interested people, she says.

The house, listed with an asking price of $625,000, sold for $768,888, or $143,888 above asking.

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