Irrespective of where the market heads there will always be one side of the transaction which will be win-win all the way. Since march of 2009 it has been a sellers market here in GTA. 
Some good deals where possible in the first quarter but things just flipped.
Read this Toronto Start article: GTA home sales rise 27%
Past 3 months bought a wind fall for home sellers with some homes selling for $50,000 – $100,000 over asking. Most activity is in Markham, Toronto, Richmond Hill, Mississauga. Things should settle down by this month end as schools have started and the normal summer peak settles down as well.
