As we have witnessed in the past months, the low listing inventory kept the Buyers competing to buy a home in February. Low mortgage rates along with 2.99% (4-5 year fixed) rates specials kept the Buyers in an upbeat mood. The market and prices might stabilize once there is an increase in home inventory coupled with an increase in interest rates. Until then, Sellers still seem in favourable position.
Here is a recap of numbers for February 2012:
- February 2012 MLS sales: 7032* (up 16% from February 2011)
- February 2012 Avg sale price: $502,508* (up 11% from February 2011)
Read the full February 2012 Market Watch*
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Happy Home Hunting…
* credit and source Toronto Real Estate Board
Vaughan Real Estate 