With 2% more sales transactions in February we have seen a moderate uptick in Toronto real estate sales activity over February last year. The sales increase was largely driven by resale condominium apartments. New listings of resale condominium apartments were up on a year-over-year basis, giving buyers ample choice. This is in contrast to the listings situation for singles, semis and townhomes, where supply continued to be constrained.
The average selling price for February 2014 sales was up by 8.6% compared to February last year.
“While the strong price growth experienced over the last year should prompt an improvement in the supply of listings, sellers’ market conditions will continue to prevail this year. Home prices, on average, will trend upwards at a pace well-above the rate of inflation. The impact of strong price growth on affordability will be mitigated by low borrowing costs,” said Mr. Mercer, market analyst of the Toronto Real Estate Board.
Urs provides real estate services in the Toronto West End
Most people are unaware that when they go into the sales office for a new condo development, the sales staff there to help you work for and represent the interests of the builder so it's a good idea as a potential buyer to have your own representation with you.
ReplyDeletePlease visit[www.jalilirealty.com]Pre construction Condominiums Toronto
Read the latest news on new condominium development in Yorkville Toronto. A breakdown of all the new condo projects in Orville from proposals planned to buildings currently under construction.
ReplyDeletePlease visit[http://www.jalilirealty.com] New Condo sales Toronto
Hi
ReplyDeleteIt is heartening that much of the business press is coming around to my position that the residential real estate market is poised for a rebound. But not everyone agrees with me. Consider this from reader CS, who responded to my column arguing that now is a good time to buy by writing....Read more at-real estate forecasts
Thanks