Toronto Real Estate Board members reported 7,228 residential sales in March and a listing stock of 15,971 listings as we head into Toronto’s Spring Market. While the numbers are lower than the same period last year, they are still indicative of a healthy real estate market. The low listing inventory compared to the number of sales, indicates a Seller’s market, and the average list to sale price ratio of 99% (Seller’s sold at 99% of list price) in an average of 24 days is further proof of that.
No news is good news as they say. The economy is strong and stable, immigration to the GTA continues, investment into Canada continues from all parts of the globe and interest rates are still low. All in all, sales continue to take place, and April should see approximately 9,500 homes sold on the Toronto Real Estate Board’s MLS system.
Condominium apartment sales are still the hottest part of the real estate market, and they continue to be in great demand with the resulting price increases. That’s not going to change, as they are the lowest price point that buyers can afford in Toronto. With rents on the increase, investors continue to buy apartments for the rental return and long term appreciation.
As the weather changes and buyers start coming out in full force as they usually do every Spring, I am strongly recommending to my clients to buy now before the multiple offers come back in full swing. With only two listings for every sale, multiple offers are occurring every day, and it’s only going to be more competitive for buyers as the weather warms up. If you are considering, do it now!
If you have any questions, please give me a call, I would love to chat.
Have a great April,
(PS I am never too busy for your referrals!)
Why Choose Peter Kwan of RE/MAX Realtron When Selling Your Home?
Real Estate Professional Peter Kwan has been serving home Sellers and Buyers in Toronto since 1991. He is a consistent Top Producer and has earned many awards throughout his career, including #1 Chinese agent in Canada.
Backed by the power of the RE/MAX network, Peter uses a combination of traditional and high tech tools to market properties to the greatest number of potential buyers worldwide. His website features community and Real Estate information, as well as Listings.
Peter is fluent in English, Cantonese and Mandarin. His aggressive and unique marketing plan gives all his clients' homes extraordinary exposure. SOLD FAST, and gets TOP DOLLAR! His success has been due to personal approach and integrity * dedicated service to his clients and the industry.
Peter is tireless in his efforts to serve his clients. He understands the needs of a family. By exceeding the expectations of his clients, Peter has earned their referrals and repeat business. He has the skills, knowledge and experience to achieve your Real Estate Goals.
Why Peter Kwan? Because…He specialize in you!
Peter Sold 1 Home Ever 2-3 Days since 2006.
Most of Peter's listings sold record breaking over asking price were without ineffective open houses, staging & even no For Sale sign on the property. Peter is very happy and appreciated if the owner allow him to install an overasking sign after Sold.
Peter is so confident that if owner found any real estate agent sold more properties in Ontario than Peter Kwan within the past 26 years, Peter is willing to match their commission plus a free air ride with Peter Kwan (Pilot in Command) on his private airplane.
No Free Lunch! Peter invests close to $1 Million every year just to Advertise!