April 2013
In February 2013, 5859 homes were wold in GTA, a strong month of sales for the members of the Toronto Real Estate Board. 73% of the 5759 homes sold were between $200k and $600k. It signals that there are still affordable properties in the GTA and many first time buyers are buying and taking advantage of the low interest rates. More than 300 homes were sold over $1 million with 50 of them selling over $2 million! Combined with the average home selling in 28 days, bidding wars for good properties and several winter storms, it looks like 2013 will be another busy year for sales in the GTA.
The average price fora house rose in February to $510 580, slightly higher than the close of 2012's $497 186, and it's a good indication that price will have a modest upward trend signaling a healthy real estate market.
As the weather changes in April, more buyers will hit the streets and we should see more transactions and activities. If you are considering buying in 2013, do it as soon as possible to avoid the spring rush.
Have a great April and please contact me if you or a friend are considering purchasing/ selling or just want to chat about real estate. I am more happy to assist.
No comments:
Post a Comment