Determining value of property! Sold for over asking in North York?
‘Sold for over asking’ in North York?
In a recent Toronto Star article (November 25, 2019), it says only 29 percent of homes sold over asking. The point of the article is that you see many signs saying ‘Sold for over asking’ around your neighbourhood and you might get the impression that it might be a seller’s market now. But it could be far from the truth if you take a close look at actual data.
These are the criteria for my data:
- All types of homes in North York;
- Sold between July 1, 2019 and today (Nov 30, 2019) (for the last 5 months);
Based on these criteria I have 196 homes. Only 34 houses out of the total 196 houses were sold over asking, which is about 17% of the total number of the sold. Interestingly, the number 17% is a lot smaller than 29% that was mentioned in the Toronto Star article.https://www.youtube.com/watch?v=IE4yFQzkiZs