Toronto Area Home Prices Up 5% in March | Toronto Real Estate Blog

Toronto Area Prices Up 5% in March

Toronto Selling Prices March 2011

The Toronto Real Estate Board reported 9,262 transactions in March, the second best March result on record, though still 11% below the all-time record set in March 2010.  The average selling price for March 2011 was $456,147, up 5% over last March. Here’s a brief video from Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

The total inventory of homes for sale in March was 16,616, representing only 1.8 months’ supply at a rate of 9,262 sales per month. Anything less than 3 months’ supply is considered to be a sellers’ market, so it’s not surprising that prices are increasing at a strong pace. If interest rates increase in the second half of the year, as is widely expected, then we might see a moderation of this trend in the summer and fall, but for now we have a very hot spring market!

 

Advertisements

About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: