If you’ve been hearing that the market is “balanced” or “cooling off,” the actual numbers in Lawson Heights, Silverwood Heights, and River Heights tell a very different story.
Because right now, the biggest trend isn’t just prices.
It’s how far over asking buyers are willing to go.
The numbers don’t lie
Over the last 90 days:
21 homes sold
Average sale price: $572,910
Median sale price: $594,000
Average days on market: 18
Highest sale: $727,800
Lowest sale: $405,000
But those averages don’t tell the real story.
The real story is in the overbids.
Let’s talk about what’s actually happening
Here are a few real examples from the past couple months:
154 Candle Crescent
Listed at $639,900
Sold for $718,800
Nearly $80,000 over asking
Sold in just 3 days
That’s not just a good sale. That’s a bidding war.
311 Candle Crescent
Listed at $499,900
Sold for $630,000
That’s a $130,000 jump over asking
Sold in 5 days
This is the kind of result that completely resets expectations in a neighbourhood.
339 Stechishin Way
Listed at $639,900
Sold for $701,000
Over $60,000 above list
Sold in just 4 days
283 David Knight Crescent
Listed at $474,900
Sold for $535,000
Over $60,000 above asking
Sold in 8 days
463 David Knight Lane
Listed at $525,000
Sold for $612,000
Almost $90,000 over asking
Sold in 12 days
So what’s causing this?
It’s not random. There’s a clear pattern.
1. Strategic pricing
Most of these homes were not priced at their true value.
They were priced to attract attention, create traffic, and generate multiple offers.
And it’s working.
2. Buyers are still competing hard
Even with higher rates, buyers haven’t disappeared.
What’s changed is how they behave. They ignore overpriced homes, but they aggressively chase well-priced ones.
That’s why you see huge spikes over asking instead of slow negotiations.
3. Inventory is tight in the right price range
Anything in that $500K to $650K range that shows well is getting serious attention.
That’s the sweet spot right now.
Two completely different markets
This is where people get confused.
Some homes are sitting for 30, 60, even 90 days.
Others are selling in under a week with massive overbids.
So which market are we in?
Both.
What this means if you’re selling
If you price your home too high, you sit.
If you price it right or slightly under, you create competition.
And competition is where these big over-ask numbers are coming from.
The Candle Crescent sales are proof of that. Those didn’t just happen. They were positioned that way.
What this means if you’re buying
You need to adjust expectations.
A home listed at $499,900 is not necessarily a $500K house anymore.
It might be $550K, $600K, or higher depending on demand.
If you’re not prepared for that, you’re going to keep missing out.
Final thought
The headline isn’t just that prices are rising.
The headline is that the gap between list price and sale price is getting wider.
And if you don’t understand that, you’re either leaving money on the table as a seller or constantly losing as a buyer.