“More vacant properties on Toronto real estate market, broker says” via CBC

As the market has cooled down from last year, a real estate broker says there’s an increase in GTA homes for sale that are sitting empty, likely due to “stubborn sellers” holding out for a return to 2017 prices.

John Pasalis, president of Realosophy Realty Inc., said he believes lower house prices have led to more vacant homes on the market.

Pasalis went through the data and found that 28 per cent of GTA properties listed for sale are advertised on the MLS as being vacant. That number is up 17 per cent from last year, he said, adding that the actual number of vacant properties is likely higher.

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