It has been well over a year now since the City of Toronto and the Greater Toronto Area (GTA) witnessed a tremendous frenzy in the real estate market. It felt like a Boxing Day sale where the lineups to buy were massive, except no one got a deal.
Since then, as you know, there has been government intervention in both the real estate and mortgage markets. The result is a more balanced market presently. There are still multiple offers on some properties and in some areas, especially in the City of Toronto, but that aggressive price growth has subsided.