I am back with 2nd blog posting and some exciting news from Greater Toronto Area REALTORS®
Today ,Greater Toronto Area REALTORS® announced the March 2013 Market numbers. Numbers are encouraging the average sale price in March 2013 was $ 519,879 - up by 3.8% compared to March 2012, and average sale price in Q1 2013 as $508,066 -up by 3.2% compare to Q1 of 2012 and number of transactins reported are down by 17 percent.
In 905 area, which is my area of expertise average sale price of Detach homes saw the most growth at 5.4% and condo apartment saw the least growth at 1.3%.a\nd number transactions were -16.4% and -17.8% respectively.
Average sale price of Semi-detach homes saw a morderate gain of 3.1% and townhouse are at 4.2% and transactions were down -14.4% and -14.8% respectively.
Wtih that being said, home ownership still remains affordable, there many motivated buyers in the market place who are willing to offer fair market value for their home of choice. While some buyers might hold off and it based on variouse factor e.g. lack of inventory in their choice of market segmentwait for the the average sellig price to dip as well.
Thank alot for reading, please come back for more and keep me posted if you have any questions and remember Ahmar Khan for all Real Estate needs.