One house that attracted more than 70 showings, drew four offers — three of them within about $50,000 of one another.
Buyers’ realtors told the listing agent their clients were afraid they wouldn’t be able to afford the house — that they feared they would have to pay $200,000 or $300,000 more.
That’s a couple of percentage points higher than the last record-setting period for home sales and prices in 2016 and early 2017.
He points out that Toronto Regional Real Estate Board data shows an obvious correlation between a hot market and selling prices that exceed the list price of homes.
“I would love a system where there are better rules and regulations that get rid of some of the underpricing.
“I would love if we didn’t have offer dates and I’m just as guilty of doing offer dates.
“The home is somebody’s most precious and valuable asset and they should determine how they go about selling.
“The number using auctions has actually increased because home sellers feel they can get a bigger price for their home by triggering that kind of auction fever,” he said.