The 2016 trends have continued into March, where we still see a limited inventory, with a 20.7% decrease in the product for the month of March, while the number of active Buyers in the marketplace is up 15.2%. These percentages highlight why we continue to see such a competitive bidding frenzy in the housing market. March did not show any signs that the dreaded bidding war or bully offer frenzy were coming to an end. In fact, we saw record numbers for the average sale prices across the GTA for condos and freehold homes. The average sale price for a condo in Toronto is up by 4.3% from last year for an average sale price of $389,319 while the average sale price for a home is up a whopping 13.6% for an average sale price of $675,492. It is important for buyers to be aware of the changes in our marketplace so they have a realistic idea of budget.  


Your email address will not be published. Required fields are marked *