Is Toronto's market really dropping?

[Cindy Shen]

My experience tells me otherwise consistently in the houses under 1M despite all the media's headlines on how housing market is dropping...I grabbed a bungalow in Ajax right by the lake last week, which was listed just over 700. There were 12 offers on that one and I went straight to 1M cuz I really want it thinking yeah I will be overpaying but in the long run it should be fine and there is no way I will lose out on this bid. Then it took hours for the agent to let me know the result - apparently they gave it to me after some discussion regarding me and another bidder. I was like what...there are other people who would be doing this at the current market on this little Bungalow?