Many of you may be asking why should I buy now? There are many good reasons and the best answer right now is is 'Why not?'.
Interest rates have just been reduced again this week to record low levels and you can now lock in for five years as low as 3.49%.
There is a good selction of homes available at all price points with new homes coming on the market everyday.
If you are trading up there are many first time buyers waiting in the wings.
We are also in a fairly balanced market, so you likely won't have to go through the difficult process of multiple offer scenarios when you are buying.
Call or email me and I will be pleased to do a search for a new home.
Thanks for checking out our newsletter. Let us know if you have any questions or comments regarding the articles or real estate in general -- we'd love to hear from you!
Thanks,
Armand
Toronto GTA Market Trends - September 2010
Generally, the average price for homes sold in September was slightly higher than in August and continued to run above year ago prices.
There is much more fluctuation by area as you will see below. The larger fluctuations are in the areas where there is a wide range of prices and the mix of homes sold can have a more dramatic effect on average prices (e.g. Rosedale).
Greater Toronto REALTORS® reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010. This represented a 23 per cent decrease compared to the 8,196 sales recorded during the same period in 2009.
Through the first nine months of the year, sales amounted to 69,069 – up four per cent compared to the first three quarters of 2009 and on track for one of the best years in our history.
The average price for September transactions was $427,329– up five per cent compared to the average of $406,877 reported in September 2009. The average selling price through the first nine months of the year was $429,657.
See Summary Of August Sales And Average Price Below:
Housing Market Price Trends by Type of Dwelling and Area – Total GTA
