The days of multiple offers and skyrocketing prices are gone and are not predicted to come back anytime soon. Now, there are exceptions to every rule, but for the most part, the strategy of vastly unpricing your home and expecting a bidding war is not advantageous. The crazy days of Covid in the early 2020s are still fresh in all of our minds, so psychologically, sellers still believe their homes are worth what they were worth then. Take a look at the graph above. You’ll notice the average value of a home in Canada spiked in 2022. That was 3 years ago, and there has been a steady decline to more manageable and realistic levels since then. Homes are still worth 50% more than they were 10 years ago. RBC recently posted that the Canadian real estate markets are starting to rebound from some historical lows at the beginning of the year; however, “markets in Southern Ontario and parts of B.C. – the country’s least affordable areas – remain especially soft. Activity is close to cyclical lows and will take time to rebound to more robust levels.” The graphic below is a stark reminder of where we were and where we are today. The total number of sales in Canada spiked to over 750,000 in the first quarter of 2021. Juxtapose that against April 2025, where the were fewer than 450,000 sales. For context, look at the 3rd quarter of 2022 to the first quarter of 2023, this was the time of rising interest rates, which caused widespread fear and halted the market in its tracks.