Typically when there are 30 or 40 offers, only three or four bidders are clustered around the upper limit.
But as the market tempo shifts, Mr. Bibby says, some agents are adjusting their tactics.
The economists say this escape route is about the vanish in the coming months with the Bank of Canada trend-setting rate, which variable rate mortgages are pegged to, on the rise.
At any given time, people may tap the brakes because of the weather, the pandemic, pending inflation and fears of recession.
The 756-square-foot unit at 130 Rusholme Rd., was listed with an asking price of $1,199,703 and an offer date set for 10 days later.
Mr. Bibby has been watching the downtown condo segment closely as he prepares to list some fresh properties.
At the higher end, he’s noticed that several of the sellers have seen offer nights come and go with no bids.