A market this tight does not mean every house sells easily, since new listings are also up 12.3 percent year over year, adding fresh competition even as demand stays strong, so pricing and presentation still separate a fast sale from a slow one.
For buyers, tight supply means less room to negotiate hard on a well-priced house in a popular neighbourhood, though an overpriced or poorly presented listing can still sit and eventually see a price cut regardless of the citywide numbers.
The label describes the city on average; your specific street, price band and property still decide your own outcome. Get your hand-reviewed valuation from Joel Dyck.