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Masoud Behbahani
Sales Representative

Kingsway Real Estate
Brokerage

151 City Centre Dr. #300, Mississauga, ON L5B 1M7

Phone: 905-268-1000  Mobile: 416-579-1860  Fax: 905-277-0020

marketwatch-march-2012

April 5, 2012 - Updated: April 5, 2012

Tight Market Drives Double-Digit Price Growth

 “The GTA resale market has not suffered from a lack of willing buyers this year. Buyers have been spurred on by the positive affordability picture brought about by low mortgage rates,” said Toronto Real Estate Board President Richard Silver.

“The challenge has been a lack of inventory. Many listings have attracted multiple interested buyers. Strong competition has led to annual rates of price growth well above the long-term average.”

The average selling price in the GTA was $504,117 in March – up by 10.5 per cent in comparison to March 2011.

“The number of new listings was up last month in comparison to March 2011.

However, based on the historic relationship between price and listings, the GTA resale market should be better supplied. If competition between buyers remains as strong as it is right now, we will almost certainly see an average selling price above $500,000 for 2012 as a whole,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

  Click here to see Full Report                 Historic Annual Sales and Average Price

If you are thinking of selling let me show you the most cost-efficient way to sell your home. 

Please do not hesitate to contact me at any time if you have any question

       Masoud Behbahani مسعود بهبهانی

    416-579-1860

 


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