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Special Real Estate Report
April 2009
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Spring Is Here!
With temperatures reaching the mid 20's this past weekend I think we can confidently put away our Winter coats and boots - Hello Spring!
There is more good news in the Real Estate market. In my professional opinion, the housing market has made its correction and has landed approximately five percent below last year's average price, remaining steady.
Interest rates are at a historical low!
First time buyers are the driving force in the market. Properties up to $400,000 are moving swiftly. We have been seeing multiple offers on some of our properties.
Check out the full report below for more details and then click on the links to the left of this article to Tour Thousands of Homes For Sale or register for our complimentary Home Finder Program which will instantly notify you of new listings that match your home search criteria including Bank and Distress Sales. You may want to receive a report on what is for sale and what has sold in your area, if so, click on the Area Reports link and we'll send that off to you promptly.
Real Estate Report & Statistics
TREB Market Watch March 2009 - In March 2009, Greater Toronto REALTORS® reported 6,171 sales - down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 - down less than five per cent from the same month last year. "The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months," commented TREB President Maureen O'Neill. "In fact, over the past two months, the situation in the housing market has improved." The seasonally-adjusted annual rate of sales increased to 65,600 in March - up 36 per cent from the ten-year low reached in January. "Sales in March increased at a rate over and above what would be expected from the normal spring-time bump," said Jason Mercer TREB's Senior Manager of Market Analysis. "A greater number of households have taken advantage of increased affordability in the housing marketplace."
Helping you make informed decisions!
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