If there's a bubble in Toronto, it hasn't popped: Home sells in a day, over asking

In many U.S. housing markets, if a home sold in 2006 or 2007 and is back on the market today, chances are the asking price is not much more than it was a few years ago. Often, it’s considerably less.

While there’s lots of talk about a bubble in Canadian real estate, the recent sales history of a nicely renovated century-old Toronto home suggests that if there’s a bubble, it’s yet to pop.

The home, which sold for $447,000 in 2006, $660,000 in 2007, and $810,000 in 2011, just went on the market for $845,000. It sold in a day — for $16,000 over the asking price. Source: theglobeandmail.com