Toronto real estate market report shows a terrific start to January 2010. Have 1749 sales from January 1 to January 15 by the MLS. Reports indicate that the market has doubled from January 2009 sales report for the same period.
When the report shows progress in selling market means people are more confident and welling are committed to long-term payments. This means that they are more confident in the economy and their stability in their jobs. Also do not forget that interest rates are very low at this time and this is another way to encourage a reason for consumers to feel more comfortable in buying a home.
The average price in the same period in 2009 was approximately $ 332,500 today in the year 2010 was approximately $ 395,000. There is increasing appreciation and value of the home.
Toronto Home Sales in 2009 started very weak but the year ended with a great sales. Experts believe that, yes, 2009 for the Toronto finished very strong, together with low interest rates and winter, the supply is less than demand. This affects the price of a house in Toronto.
Sellers hoping and waiting for a better time to put their home up for sale. They think if they wait much the price can be higher. Experts in Toronto reported that many homes go into Toronto home market then the supply will be high and the current price will not be high as soon as the end of 2009 and early 2010. This will affect the real estate market in Toronto.
Although it has a slow real estate market in 2008 in Toronto, in the last months of 2009 house prices do increase in value. For example, house detached bungalows increased by 6%, increased by 5.2% 2storey homes, condominiums and apartments increased from 6.4%.
As you know the location of the conversation is always first. Even in a bad economy and recession passes, Toronto house that was on the scene still has less influence than other locations. Yes, it shakes too well the value of the house in a good location Toronto but not as much as the others.Thanks