Do buyers have the upper hand in the Toronto real estate market?

[totallyproperty]

Only a few weeks ago there were major concerns that the Canadian real estate market was overheating and on the verge of collapse. While there is still significant demand for Toronto real estate, many agents are now recognising a lack of firm bids by "offer night" and are indeed advising their clients to take it slowly.

This would seem to indicate that the power in the Toronto real estate market is shifting from sellers to buyers? Do you think that the Toronto real estate market is flattening out and growth slowing?

 

[dcmhomebuyers112]

We were totally stressed out thinking we were going to have two mortgages. We had a lot of sleepless nights," says Ted Kaidonis.
They listed their existing home this spring for $579,000, the low end of what their realtor had recommended last year. To their surprise, the home sold in a day for $575,000.