The pace of activity for the Toronto market has really picked up lately. Driven primarly by first time buyers and moderate move-up buyers, the Toronto real estate scene shifted this past month into overdrive. Suddenly multiple offers for properties, bidding wars and selling over asking has returned!
Toronto market statistics were provided by the Toronto Real Estate Board today.
Did you know the market prices have been rising steadily for the past several months?
For the month on May 2009, the Toronto average selling price rose by about $10,000 to $395,609, that is just off the all-time high figure of $395,866 set in May 2008. So that's up 2.6% from one month before, down just %0.6% from one year ago.
Given that there have been more sales in the low and moderately priced homes, once the higher-end homes start to sell more,there should be a further jump in average prices.
June was the busiest month since June 2007, with 9,589 properties changing hands.
Take advantage of this market opportunity... call Ralph Evans at 416 577-5486.
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