Toronto Real Estae Market Quicky Update
Toronto Real Estate Market March 2012 Quicky Update:
Has shown a 7% increase in unit sales ( Number of houses or condos sold) in Toronto Real Estate over the same time period last year.
The number of new listings for sale is down by 2%, and the number of transactions is expected to hit 8000-9000. This means of course that with only 12-13000 listings on the Toronto Real Estate market about 75% of all properties will sell within the month.
The average sales price is approx of $502,000, which represents a 9% increase year over year for the past 3 years. Mortgage Rates Rates are on the way up, which may cause some leveling of price. It’s so important to get your clients pre approved. This will not only lock your rate in, but ensure you are properly qualified to buy the home you are after and enable you to make your offer stronger.
Work with a Toronto mortgage broker who gives you a detailed pre qualification certificate, not just a rate hold. Feel free to give us a call and we can get this in place for you within a short time.