According to Royal Le Page, prices are still increasing for property in the city. Based on this, who says the housing market is declining and slowing? It is in full swing ladies and gentlemen, welcome to the spring market! Based on data collected from this real estate company, in the first quarter of 2014, single home (standard two story) sales were averaging around $428,943.00 across Canada as a whole. This was a 5.4% increase from 2013, on top of this, bungalows were purchased at an average of $380,765.00(up by 4.4%) and condominiums were averaging $252,174.00 (up by 2.5%).
The report also indicated this rush of buyers happened at the end of the first quarter, which could be due to the terribly long winter we have been having not just in the City of Toronto, but across Canada. Based on this, the buzz has already started to build, lets hope it stays for the remainder of 2014! Going strong!
Contact Robert Clancy today to find out how to obtain your mortgage needs!