GTA Home Market Watch – March 2012

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