Greater Toronto REALTORS® reported 3,681 transactions in the first half of April, down seven per cent compared to 3,955 during the same period last year.“In lock-step with the favorable March results, resale housing market conditions in the first half of April were markedly improved compared to the winter time,” said TREB President Maureen O’Neill. “Households that were on the sidelines at the beginning of the year are now taking advantage of lower interest rates and lower home prices.”
Average price for MLS® sales was $383,161, down four per cent from $399,117 last year. “The average home price in the GTA stabilized as resale market conditions tightened over the past two months,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “Existing home sales increased relative to new listings.” Mercer says.
Confused about the market? Is it really the best time to buy? Is there any advantages to sell in a buyer's market? Toronto's real estate market is going through a change and you will be surprised with the statistics. While some properties are still selling for more than asking with multiple offers, others sit on the market longer. Undoubtedly, owning a home in Toronto has become a more affordable option than ever before. Know your options!
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Royal LePage Your Community Realty Brokerage
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