March Market Report: Figures Show Loosening of Marketplace

March Market Report: Figures Show Loosening of Marketplace
We have survived a brutal winter that kept sellers off the market and hopefully the change of weather will allow buyers more options in the next months. Often a tight winter like this delays the spring market into the summer months but time will tell.

According to TREB's Market Watch, the number of sales done in March 2015 in Toronto real estate market has risen by 11 per cent in comparison with last year. The trend is even stronger in the detached homes market segment in whole Greater Toronto Area - the number of sales has increased by 14 per cent compared to March 2014. The accessibility of low interest rates still makes home ownership affordable and the high demand has also reflected to higher average price, which has risen to $613,933. That's a 10 per cent increase compared to last year's $557,982.

RS info feb 15

These March figures are showing a bit of a loosening of the marketplace. More product in the past month is a great sign and hopefully the better weather will mean that even more product will come to the market this month. We have survived a brutal winter that kept sellers off the market and hopefully the change of weather will allow buyers more options in the next months. Often a tight winter like this delays the spring market into the summer months but time will tell. Stay tuned...

Title Photo: Watch This Space! by wyliepoon

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