It looks like we’re in for another year of strong activity in the high-end condo market. Sotheby’s International Realty Canada released its Top-Tier Real Estate Report today, predicting sellers’ market conditions in the condo market.
Sotheby’s International Realty Canada just released its Top-Tier Real Estate Report, a bi-annual study reporting on $1 million+ home sales activity in Vancouver, Calgary, Montreal, and the Greater Toronto Area.
According to the Canadian Real Estate Association, an SNLR between 40 – 60% is considered a balanced market, with below and above that threshold indicating buyers’ and sellers’ conditions, respectively.
On The Block Realty developed the auction platform. The listing had a number of viewings before the auction date, and in their release, they say people were receptive and interested in the open auction bidding process.