Negotiating on Toronto small multifamily listings after 80 days

[EarnestStory]

I’m trying to judge whether roughly 80 days on market now gives buyers meaningful negotiating room on Toronto small multifamily properties priced around C$982,800–C$1,474,000.

The market feels split: renovated properties move quickly, while those needing work tend to sit and take cuts. Properties with unclear rental-regulation issues also seem to follow a different path.

Does anyone have recent completed-sale examples where the final price differed noticeably from the public asking history? I’m also wondering how much withdrawn and relisted stock is disguising the true marketing time.

 

[selma_hart]

Eighty days plus one or more cuts suggests room to negotiate, but the listing history alone does not reveal how motivated the seller is. I’d compare the original ask, latest ask and sale price while noting any withdrawal or relist.

Are you looking within one neighbourhood, or across Toronto? At this property type, crossing even a nearby neighbourhood boundary can make the comparison much less useful.

 

[amber_chalk]

Condition needs to be separated from the headline days on market. “Needs work” could mean cosmetic updates, or it could mean uncertainty that affects financing and the usable rental setup. Those will attract very different bids.

I’d also ask whether your 80-day figure is current-listing time or cumulative time. If withdrawn stock is returning with fresh listings, the apparent average may understate how long sellers have actually been testing the market.

 

[clever_sparrow]

I’m not convinced renovated automatically means competitive. A renovated property can still sit if the seller priced the work too aggressively. Conversely, an unrenovated one may move if the discount is clear enough.

The best evidence would be completed sales matched tightly by neighbourhood, property condition and rental situation. City-wide examples in that broad price range could point you in the wrong direction.

 

[small_quill]

A practical approach is to make a small comparison table for each serious candidate: first asking price, every cut, any withdrawal period, current ask, condition, and the closest completed sales. Also record how many genuinely comparable new listings appeared during those 80 days. Rising choice strengthens the buyer’s position; scarce replacement stock can let a patient seller hold firm despite a long listing period.

 

[small_quill]

One more point: try to learn why the seller is moving before treating 80 days as leverage. A vacant or burdensome property may create different motivation from one the seller can comfortably retain. I’d base the offer on completed comparables and visible repair or financing issues, then use the long marketing history as supporting context—not as the sole reason for a lower number.