Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.
“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”
The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009.
“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”
Median Price
In April, the median price was $373,000, from the $330,000 recorded during April of 2009.
If you are thinking of selling, now will be the best time to get top dollar for your home for the next few years. Selling now will also let you take advantage of the record low interest that won't last forever.
Please visit http://www.marianogigante.com/ to learn more.
Follow my tweets @marianogigante
Saturday, May 8, 2010
Tuesday, April 13, 2010
A little real estate humour for the day
Hi everyone,
It has been still crazy with this red hot market. I will be back to post some of the latest stats but in the meantime I found this on the web and thought you all might get a kick out of it.
What I am taking away from this clip is to always make sure that I proof my ads.
Hope you like it.
It is from the Ellen Degeneres show. Ellen searched everywhere for the funniest real estate listings she could find -- and she found them! A misspelling in one of these listings put an entirely new meaning to having a good time at home!
http://ellen.warnerbros.com/2010/04/ellen_found_the_funniest_real_estate_listings_0413.php
Thanks Ellen! Catch more info about Ellen @ http://ellen.warnerbros.com/
It has been still crazy with this red hot market. I will be back to post some of the latest stats but in the meantime I found this on the web and thought you all might get a kick out of it.
What I am taking away from this clip is to always make sure that I proof my ads.
Hope you like it.
It is from the Ellen Degeneres show. Ellen searched everywhere for the funniest real estate listings she could find -- and she found them! A misspelling in one of these listings put an entirely new meaning to having a good time at home!
http://ellen.warnerbros.com/2010/04/ellen_found_the_funniest_real_estate_listings_0413.php
Thanks Ellen! Catch more info about Ellen @ http://ellen.warnerbros.com/
Tuesday, March 30, 2010
Rising Mortgage Rates - what does it mean?
Hi everyone,
These past few weeks have been extremely crazy in real estate particularly with yesterday's news that three big banks are raising interest rates on their closed rate mortgages. This rise signals the end of some of the lowest rates we have ever seen. What does this mean?
Well, consumers now have an additional dilemma, either stay flexible, hope for the best and ride out the next several months or lock in to long-term loans.
Most of the industry say that this is just the beginning of future increases that will make home ownership more expensive for the rest of 2010. .
Realtors and other experts say they expect to see a flurry of activity over the next few weeks as some homeowners and homebuyers scramble to lock in their mortgage rates before they go any higher and should further fuel this extremely hot real estate market in the GTA by motivating home buyers eager to cash in on still low mortgage rates.
For homeowners or homebuyers who are nervous about Monday's rate increases, the security of five-year, or longer, fixed loans may be the best option, say mortgage experts. "If that (rising rates) causes you discomfort then perhaps a fixed rate's where you want to be," said Robert McLister, a mortgage planner and editor of the Canadian Mortgage Trends website. "If you're closing in the next six months, I suggest people do that quickly."
The changes affect closed mortgages with terms of three, four and five years at RBC Royal Bank (TSX:RY), Laurentian Bank (TSX:LB), and TD Canada Trust (TSX:TD). Rates for mid-term mortgages like these tend to reflect the banks' borrowing costs on bond markets, where mortgage loans are financed.
Other banks are expected to follow suit.
The biggest increase announced Monday affects fiveyear mortgages. All three banks are hiking their posted rate by six-tenths of a per cent to 5.85 per cent from 5.25 per cent. That means a homeowner taking on a mortgage of $250,000 at the new posted rate of 5.85 per cent over a 25-year amortization period would pay $1,577 a month. Prior to Tuesday's hike, that mortgage would have cost $1,489 a month, or $88 less.
Many people with decent credit history who are applying for mortgages can negotiate better than posted rates.
The Bank of Canada is expected to begin raising lending rates this summer as it moves to fight growing inflationary pressures in the economy. The bank has kept its key overnight rate at a historic low of 0.25 per cent for more than a year to help stimulate the economy.
The latest increases reflect real-time market interest rates, which usually signal future central bank rate jumps months in advance.
Now is the best time to sell your home and get into a new one. Homebuyers are eagerly seeking homes in Olf Meadowvale Village, Levi Creek, Churchill Meadows, & Sheridan Homelands. Don't miss your chance to get into your dream home while you can still afford it while getting top dollar for your home.
Please visit http://www.marianogigante.com/ to learn more or follow me on my twitter for more market updates.
www.twitter.com/@marianogigante.
Happy househunting everyone!
Mariano
These past few weeks have been extremely crazy in real estate particularly with yesterday's news that three big banks are raising interest rates on their closed rate mortgages. This rise signals the end of some of the lowest rates we have ever seen. What does this mean?
Well, consumers now have an additional dilemma, either stay flexible, hope for the best and ride out the next several months or lock in to long-term loans.
Most of the industry say that this is just the beginning of future increases that will make home ownership more expensive for the rest of 2010. .
Realtors and other experts say they expect to see a flurry of activity over the next few weeks as some homeowners and homebuyers scramble to lock in their mortgage rates before they go any higher and should further fuel this extremely hot real estate market in the GTA by motivating home buyers eager to cash in on still low mortgage rates.
For homeowners or homebuyers who are nervous about Monday's rate increases, the security of five-year, or longer, fixed loans may be the best option, say mortgage experts. "If that (rising rates) causes you discomfort then perhaps a fixed rate's where you want to be," said Robert McLister, a mortgage planner and editor of the Canadian Mortgage Trends website. "If you're closing in the next six months, I suggest people do that quickly."
The changes affect closed mortgages with terms of three, four and five years at RBC Royal Bank (TSX:RY), Laurentian Bank (TSX:LB), and TD Canada Trust (TSX:TD). Rates for mid-term mortgages like these tend to reflect the banks' borrowing costs on bond markets, where mortgage loans are financed.
Other banks are expected to follow suit.
The biggest increase announced Monday affects fiveyear mortgages. All three banks are hiking their posted rate by six-tenths of a per cent to 5.85 per cent from 5.25 per cent. That means a homeowner taking on a mortgage of $250,000 at the new posted rate of 5.85 per cent over a 25-year amortization period would pay $1,577 a month. Prior to Tuesday's hike, that mortgage would have cost $1,489 a month, or $88 less.
Many people with decent credit history who are applying for mortgages can negotiate better than posted rates.
The Bank of Canada is expected to begin raising lending rates this summer as it moves to fight growing inflationary pressures in the economy. The bank has kept its key overnight rate at a historic low of 0.25 per cent for more than a year to help stimulate the economy.
The latest increases reflect real-time market interest rates, which usually signal future central bank rate jumps months in advance.
Now is the best time to sell your home and get into a new one. Homebuyers are eagerly seeking homes in Olf Meadowvale Village, Levi Creek, Churchill Meadows, & Sheridan Homelands. Don't miss your chance to get into your dream home while you can still afford it while getting top dollar for your home.
Please visit http://www.marianogigante.com/ to learn more or follow me on my twitter for more market updates.
www.twitter.com/@marianogigante.
Happy househunting everyone!
Mariano
Wednesday, March 24, 2010
Mortgage Brokers Demystified
What is a mortgage broker?
Simply stated, a mortgage broker is an agent for lenders in much the same way an insurance broker is an agent for insurance companies. Mortgage brokers act as agents for banks, trust companies, credit unions, mortgage corporations, mortgage investment corporations, finance companies and individual private investors. Some mortgage brokers are exclusively lenders of their own money and provide a direct source of mortgage funds (a topic to be discussed in a later issue). Mortgage brokers are trained professionals that have to meet a satisfactory educational requirement before they may become registered. As such, this requirement ensures you are being provided with a duty of care, a working knowledge of mortgage products and a standard of service to meet individual needs.
So, how would I benefit by using a mortgage broker?
Using the services of a mortgage broker for the first time usually results in the following testimonials:
I originally thought you only used mortgage brokers if you couldn't qualify at the bank….I was wrong.
I didn't feel intimidated or left in the dark for days on end wondering if I would qualify;
My mortgage was approved the very same day I applied;
I didn't realize there were so many terms and conditions that vary among the different institutions. My mortgage broker took the time to explain them to me;
I didn't realize many mortgage products and discounts were available exclusively through mortgage brokers;
I always thought you had to pay fees but because my mortgage was approved based on my credit history and income, there were no lender or brokerage fees charged;
I didn't have to leave my home or take time off work to apply;
The broker clearly explained the interest rates, prepayment privileges and other important terms and conditions which helped clarify some of my many questions and helped save me a great deal of money as a result;
Within five minutes, the broker explained how much of a mortgage I qualified for;
Within five minutes the broker told me that I had enough income to qualify for my $160,000 condominium purchase;
The application process was pleasant and over the telephone;
I didn't have to take the time to shop financial institutions for the best mortgage myself, the broker did everything and got me what I wanted;
The broker was always accessible on evenings or weekends when I needed an important question answered before making an offer on a property;
What will the mortgage broker need to know? As you probably already know, lender terms and conditions are not created equal. So, whether you are purchasing a property or refinancing an existing mortgage, there are many factors to take into consideration. A quick analysis of your personal situation by a qualified mortgage broker, lets him/her know where to shop the market. Some things he/she will need to know are:
Net worth (i.e. your assets less your liabilities);
Income (i.e. income from employment or self-employment);
Credit history (i.e. your payment history with your other creditors, loans credit cards etc.);
Property type (i.e. Residential, Land only, recreational, remote location etc.);
Down payment amount;
Once your application is complete, the mortgage broker knows where you will qualify. With the click of a few buttons, he/she can tap into the vast network of computers which connect lenders and brokers electronically. As mentioned above, the broker can obtain rate discounts for you that you cannot obtain yourself.
Where will your next mortgage financing experience be?
Volumes of detailed important information are available to consumers right now but do you have the desire, time or where-with-all to effectively examine what's out there? It can be a daunting, frustrating task. To limit your frustration, consider using the expertise of a qualified and knowledgeable mortgage broker to help you understand the mortgage process and meet your financial needs.
Remember to choose your Mortgage Broker carefully, don't be afraid to interview a few and find the one you feel most comfortable with.
For some of the best mortgage rates in the market don't forget to visit www.marianogigante.com
Simply stated, a mortgage broker is an agent for lenders in much the same way an insurance broker is an agent for insurance companies. Mortgage brokers act as agents for banks, trust companies, credit unions, mortgage corporations, mortgage investment corporations, finance companies and individual private investors. Some mortgage brokers are exclusively lenders of their own money and provide a direct source of mortgage funds (a topic to be discussed in a later issue). Mortgage brokers are trained professionals that have to meet a satisfactory educational requirement before they may become registered. As such, this requirement ensures you are being provided with a duty of care, a working knowledge of mortgage products and a standard of service to meet individual needs.
So, how would I benefit by using a mortgage broker?
Using the services of a mortgage broker for the first time usually results in the following testimonials:
I originally thought you only used mortgage brokers if you couldn't qualify at the bank….I was wrong.
I didn't feel intimidated or left in the dark for days on end wondering if I would qualify;
My mortgage was approved the very same day I applied;
I didn't realize there were so many terms and conditions that vary among the different institutions. My mortgage broker took the time to explain them to me;
I didn't realize many mortgage products and discounts were available exclusively through mortgage brokers;
I always thought you had to pay fees but because my mortgage was approved based on my credit history and income, there were no lender or brokerage fees charged;
I didn't have to leave my home or take time off work to apply;
The broker clearly explained the interest rates, prepayment privileges and other important terms and conditions which helped clarify some of my many questions and helped save me a great deal of money as a result;
Within five minutes, the broker explained how much of a mortgage I qualified for;
Within five minutes the broker told me that I had enough income to qualify for my $160,000 condominium purchase;
The application process was pleasant and over the telephone;
I didn't have to take the time to shop financial institutions for the best mortgage myself, the broker did everything and got me what I wanted;
The broker was always accessible on evenings or weekends when I needed an important question answered before making an offer on a property;
What will the mortgage broker need to know? As you probably already know, lender terms and conditions are not created equal. So, whether you are purchasing a property or refinancing an existing mortgage, there are many factors to take into consideration. A quick analysis of your personal situation by a qualified mortgage broker, lets him/her know where to shop the market. Some things he/she will need to know are:
Net worth (i.e. your assets less your liabilities);
Income (i.e. income from employment or self-employment);
Credit history (i.e. your payment history with your other creditors, loans credit cards etc.);
Property type (i.e. Residential, Land only, recreational, remote location etc.);
Down payment amount;
Once your application is complete, the mortgage broker knows where you will qualify. With the click of a few buttons, he/she can tap into the vast network of computers which connect lenders and brokers electronically. As mentioned above, the broker can obtain rate discounts for you that you cannot obtain yourself.
Where will your next mortgage financing experience be?
Volumes of detailed important information are available to consumers right now but do you have the desire, time or where-with-all to effectively examine what's out there? It can be a daunting, frustrating task. To limit your frustration, consider using the expertise of a qualified and knowledgeable mortgage broker to help you understand the mortgage process and meet your financial needs.
Remember to choose your Mortgage Broker carefully, don't be afraid to interview a few and find the one you feel most comfortable with.
For some of the best mortgage rates in the market don't forget to visit www.marianogigante.com
Sunday, March 21, 2010
Great Semi in Levi Creek for Sale!
This Upgraded 3 Bedroom, 4 Bath home with over 1,674 aquare feeet of gracious living space has over $50,000 in upgrades. Upgrades include
This wonderful family home is close to top ranked public and private schools all highways and great shopping at Heartland Town Centre. Live right near all the amenities and beauty of Old Meadowvale Village without paying Old Meadowvale Village Prices.
See pics of this fantastic deal at http://youtu.be/uAVajDM6eyI
This home is curently leased with great tenants until June 1 2010. Tenants who ore willing to say if needed. Owner And Agent Do Not WarrantRetrofit Of Basement.
This house is a great deal and won't last long in this market. Call me today at 416-256-7000 or visit http://www.marianogigante.com/ for more details on this great listing.
- Hardwood & Marble Floors
- Oak Stairs
- Tall Baseboards And Wide Trim,
- Pot Lights
- Finished Basement(500+Sqft)
- Shed
- Patterned Concrete Front, Side, Back And Landscaped.
This wonderful family home is close to top ranked public and private schools all highways and great shopping at Heartland Town Centre. Live right near all the amenities and beauty of Old Meadowvale Village without paying Old Meadowvale Village Prices.
See pics of this fantastic deal at http://youtu.be/uAVajDM6eyI
This home is curently leased with great tenants until June 1 2010. Tenants who ore willing to say if needed. Owner And Agent Do Not WarrantRetrofit Of Basement.
This house is a great deal and won't last long in this market. Call me today at 416-256-7000 or visit http://www.marianogigante.com/ for more details on this great listing.
Saturday, March 20, 2010
Top 10 Home Staging Tips - Get Top Dollar for your Home!
Happy Saturday everyone,
The market in Mississauga is still red hot! The areas of Old Meadowvale Village, Levi Creek, Port Credit/Mineola and Churchill Meadows are seeing particularly strong activity with multiple offers again being seen in these areas. It is the best time to sell before new mortgage rules and the HST come into effect. (Read more about the HST by clicking on the HST label on the blog)
Gone is last year's situation of houses lingering on the market but the difference now is that buyers are extemely picky and want the home they buy to be in show home shape. If you want top dollar for your home, doing simple things can make a huge difference in the price you can achieve for your home.
There are many professional home stagers that can help you but below you will find some simple tips that can get you started.
1.Think of your home as a commodity. Remember, it is not going to be your home anymore and should be marketed as a product. When looking at your home, you should decide on a general theme that emphasis the best features of your home and portrays an overall mood.
2.You don't get a second chance to make a first impression. Clean up and revamp your front entrance way. It is the first place a buyer will see. Polish doorknobs, replace burnt out bulbs, and repaint the door if it is stained or scratched.
3.Do a thorough cleaning before putting your house on the market. Spotless walls, windows, carpets, flooring, and appliances make a lasting first impression. Key areas are the kitchen, bathroom and front entry. If your carpets or vinyl floors are stained, especially in high traffic areas, you should consider replacing them.
4.Consider the outside of your house. Does your siding need washing, your gutters cleaning out, or your hedge need trimming? A tidy outside raises less concern about maintenance issues.
5.Remove any clutter. Small appliances on countertops, knick-knacks, jam-packed bookshelves can be packed away in preparation of moving. Family photos should also be packed away so that the potential buyer can more easily visualize their own possessions in your home. This also includes removing any excess furniture so your home has a spacious airy feeling. You may want to rent a temporary storage unit for furniture and other boxes that take up room in your closets or storage spaces.
6.Arrange the furniture in your home to showcase its best features. Put a few pieces on angles to create cozy corners, and a less boxy look.
7.Remove any area rugs that are covering attractive flooring and a fresh coat of paint can do wonders for a dingy room. Try using currently fashionable colors to update your home's décor. Cream or neutral colors warm up a room making it feel giving a homey impression.
8.Vacant homes should have the heat or air conditioning on for showing purposes. It reduces the stale odors that accumulate inside of a vacant house and gives a more inviting impression to potential homebuyers.
9.The mood you create in your home is also dependent on odors. If you home has an unpleasant or mildew smell you will want to remove the source of the odor. Open up the windows to let fresh air inside your home before you show it. If you are going to use a scented candle or incense, try and use mild varieties as strong smells can irritate sensitive noses.
10.Baking bread, playing soft music, and adding additional plants to your home, are all psychological cues that make a potential home buyer feel like your home is a nice place to live in and they will spend more time previewing your house. Outdoor planters and indoor floral arrangements are visually pleasing.
11.Consider your lighting. Natural light makes a home feel more welcoming, open and appealing. Drapes and blinds should be opened and mood lighting left on in darker rooms.
12.Take a look at your possessions. Stained or tattered items should be removed from view. Fresh towels, made beds, and clean throw rugs are a must.
13.Fix any small repairs, including leaky faucets, squeaky doors, and loose door handles. They may seem insignificant but minor repairs add up in the mind of a potential buyer.
14.If you have pets, ensure that their dishes, sleeping areas, and litter boxes are clean. Any noticeable pet hair should be vacuumed, and dog droppings removed from the yard.
15.If you know the mood you want to create but do not have the furnishings, consider renting them. Large pictures, designer coffee tables, and accessories that enhance your homes overall look may increase the appeal of your home without seriously denting your pocket book.
To see more information, please visit http://www.marianogigante.com/ or follow my tweets @marianogigante
The market in Mississauga is still red hot! The areas of Old Meadowvale Village, Levi Creek, Port Credit/Mineola and Churchill Meadows are seeing particularly strong activity with multiple offers again being seen in these areas. It is the best time to sell before new mortgage rules and the HST come into effect. (Read more about the HST by clicking on the HST label on the blog)
Gone is last year's situation of houses lingering on the market but the difference now is that buyers are extemely picky and want the home they buy to be in show home shape. If you want top dollar for your home, doing simple things can make a huge difference in the price you can achieve for your home.
There are many professional home stagers that can help you but below you will find some simple tips that can get you started.
1.Think of your home as a commodity. Remember, it is not going to be your home anymore and should be marketed as a product. When looking at your home, you should decide on a general theme that emphasis the best features of your home and portrays an overall mood.
2.You don't get a second chance to make a first impression. Clean up and revamp your front entrance way. It is the first place a buyer will see. Polish doorknobs, replace burnt out bulbs, and repaint the door if it is stained or scratched.
3.Do a thorough cleaning before putting your house on the market. Spotless walls, windows, carpets, flooring, and appliances make a lasting first impression. Key areas are the kitchen, bathroom and front entry. If your carpets or vinyl floors are stained, especially in high traffic areas, you should consider replacing them.
4.Consider the outside of your house. Does your siding need washing, your gutters cleaning out, or your hedge need trimming? A tidy outside raises less concern about maintenance issues.
5.Remove any clutter. Small appliances on countertops, knick-knacks, jam-packed bookshelves can be packed away in preparation of moving. Family photos should also be packed away so that the potential buyer can more easily visualize their own possessions in your home. This also includes removing any excess furniture so your home has a spacious airy feeling. You may want to rent a temporary storage unit for furniture and other boxes that take up room in your closets or storage spaces.
6.Arrange the furniture in your home to showcase its best features. Put a few pieces on angles to create cozy corners, and a less boxy look.
7.Remove any area rugs that are covering attractive flooring and a fresh coat of paint can do wonders for a dingy room. Try using currently fashionable colors to update your home's décor. Cream or neutral colors warm up a room making it feel giving a homey impression.
8.Vacant homes should have the heat or air conditioning on for showing purposes. It reduces the stale odors that accumulate inside of a vacant house and gives a more inviting impression to potential homebuyers.
9.The mood you create in your home is also dependent on odors. If you home has an unpleasant or mildew smell you will want to remove the source of the odor. Open up the windows to let fresh air inside your home before you show it. If you are going to use a scented candle or incense, try and use mild varieties as strong smells can irritate sensitive noses.
10.Baking bread, playing soft music, and adding additional plants to your home, are all psychological cues that make a potential home buyer feel like your home is a nice place to live in and they will spend more time previewing your house. Outdoor planters and indoor floral arrangements are visually pleasing.
11.Consider your lighting. Natural light makes a home feel more welcoming, open and appealing. Drapes and blinds should be opened and mood lighting left on in darker rooms.
12.Take a look at your possessions. Stained or tattered items should be removed from view. Fresh towels, made beds, and clean throw rugs are a must.
13.Fix any small repairs, including leaky faucets, squeaky doors, and loose door handles. They may seem insignificant but minor repairs add up in the mind of a potential buyer.
14.If you have pets, ensure that their dishes, sleeping areas, and litter boxes are clean. Any noticeable pet hair should be vacuumed, and dog droppings removed from the yard.
15.If you know the mood you want to create but do not have the furnishings, consider renting them. Large pictures, designer coffee tables, and accessories that enhance your homes overall look may increase the appeal of your home without seriously denting your pocket book.
To see more information, please visit http://www.marianogigante.com/ or follow my tweets @marianogigante
Thursday, March 18, 2010
GTA REALTORS® REPORTING MARCH MID-MONTH HOUSING STATISTICS
Toronto, March 17, 2010
Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing Service® (MLS®) during the first two weeks of March.
This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession.
The mid-month sales total was also 16 per cent higher than the previous March midmonth high reached in 2006.
“The spring-like weather in the first half of March brought the first green sprouts of the recurring spring market. Every year, monthly sales climb steadily through May,” said Toronto Real Estate Board President Tom Lebour. "People are buying homes because they are confident in the current economic recovery and mortgage payments on the average priced home remain affordable."
The average price for March mid-month transactions was $440,153 – a 20 per cent
increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34 per cent to 8,540.
"Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in less upward pressure on home prices.”
Source: Toronto Real Estate Board
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on http://www.torontorealestateboard.com/.
For more information please visit http://www.marianogigante.com/ or follow my tweets @marianogigante
Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing Service® (MLS®) during the first two weeks of March.
This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession.
The mid-month sales total was also 16 per cent higher than the previous March midmonth high reached in 2006.
“The spring-like weather in the first half of March brought the first green sprouts of the recurring spring market. Every year, monthly sales climb steadily through May,” said Toronto Real Estate Board President Tom Lebour. "People are buying homes because they are confident in the current economic recovery and mortgage payments on the average priced home remain affordable."
The average price for March mid-month transactions was $440,153 – a 20 per cent
increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34 per cent to 8,540.
"Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in less upward pressure on home prices.”
Source: Toronto Real Estate Board
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on http://www.torontorealestateboard.com/.
For more information please visit http://www.marianogigante.com/ or follow my tweets @marianogigante
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