The average selling price on Toronto’s MLS listing for the month of February was a whopping $553,193.00 dollars! This number being an increase of 8.6%, nearly 9% up from February 2013. Based on this Data, predictions say that it will stay a ‘sellers market’ for the next year. In the case of the buyer, be prepared for those biding wars and long lineups of offers on homes. Particularly, single residential homes. Bungalows are really popular in the City of Toronto right now, so have those on your radar for now!
Prices are expected to dip down starting at the end of this year, as per predictions from Bond Giant Pimco. This is good news for buyers, at least there seems to be some prediction for catching a break! Even if it is a small one.
Right now though, it is a sellers market, so if you have been thinking of listing, now is the time to do it!
Contact Robert Clancy today to find out if it makes sense to sell your property based on your mortgage terms!