You thought March 2011 GTA resale market was hot? Well then March 2012 was on fire with over 8% increase in sales over March 2011. Incredible mortgage offers such as 2.99% for 4/5 years fixed offerings by several Canadian banks helped fuel this growth along with lack of overall inventory pushing the average sale price up more than 10%. I have several Buyer clients and it has been a great challenge in finding homes for them due to the low inventory homes in the market. I am hoping more listings coming on the market will help ease the price increases that are pushing home affordability out of reach for several buyers.
Here is a recap of numbers for March 2012:
- December 2011 MLS sales: 9690* (up 8% vs March 2011)
- December 2011 Avg sale price: $501,614* (up 10% vs March 2011)
Read the full March 2012 Market Watch*
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* credit and source Toronto Real Estate Board
Vaughan Real Estate 