“Continued improvement in the GTA economy, including growth in jobs and incomes and a
declining unemployment rate, has kept the demand for ownership housing strong,” said
Toronto Real Estate Board (TREB) President Bill Johnston.
February 2011 saw fewer homes sold than the record year we had in February 2010 but over 50% higher than 2009. More importantly the average price for February is up more than 5% from a year ago to $454,423 from $431,509.
“Market conditions remain quite tight in the GTA. There is enough competition between
home buyers to promote continued price growth,” said Jason Mercer, TREB’s Senior
Manager of Market Analysis.
What can we expect in the next few months?
I predict continued slow increase of price as Mortgage rules tighten and inventory increases heightening competition to sell.
If you are thinking of Selling in the next few months... I'd consider listing now before competition affects your homes ability to sell. You can demand top dollars when you are the lone ranger.
Need help selling... want to know how much your house / condo is worth. Contact Jas, and get the REAL answers you need to make an informed buying or selling decision.
Sign Up For Vip Savings with Jas. BUY • SELL • INVEST • Assign • Lease in the GTA.
Join my FACEBOOK FAN PAGE - "REAL ESTATE NUGGETS".
RE/MAX Dynasty Realty Inc. O: 905-471-0002 Cell: 647-272-6629
E: jasjagpal@rogers.com W: www.JasJagpal.com W: www.TheTorontoCondoRealEstate.com
© 2011 Jas Jagpal, Sales Representative, BSc. York University
No comments:
Post a Comment