Tuesday, April 6, 2010
Market Watch for March 2010
With interest rates on the rise and the dreaded HST Tax looming over the horizon, the real estate market is maintaining its pace. Multiple offers are abundant. Agents are holding off offers to stimulate multiple offers and homes are being listed lower for a quick sale with the same result.
We are still on the short side for listings. I guess I keep harping on listing agents because they aren't supplying the listings that I need for the number of serioius buyers that I have who WILL NOT compete in multiple offers but have not found that dream home. I keep looking and previewing.
As the March Market Watch states:
Greater Toronto REALTORS® reported the best result on record under the current Toronto Real Estate Board (TREB) boundaries.
“The strong rebound in the existing home market was one of the initial drivers of economic recovery,” said TREB President Tom Lebour. “While we don’t expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries.”
“The average home price in the GTA will continue to grow this year, but the pace will slow as we move through the spring,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As growth in new listings starts to outstrip growth in sales, buyers will experience more choice, resulting in more sustainable single digit rates of average price growth.”
I have found more of my buyer clients holding off for a short while, but still looking. This is the time of year when the spring market is coming to an end and we are entering a time with many changes. HST is becoming a reality. I keep previewing homes in Mississauga and Oakville.
Let's all get out there and enjoy the weather. What better time to look at homes -- days are longer, no boots and coats, and safer driving conditions.
Give me a call - 416 427 1875. Your decision is the decision that I will respect. Let's talk about your next step.
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes in the Nine Of Five
I am an agent who instills in her clients the confidence to make the right purchase or sale decision. I achieve this by being hands on during the entire purchase process and demonstrating a superior knowledge of Toronto real estate matters and by educating my buyers and sellers in Mississauga.
If you have a family member, or friends, considering a purchase, you would want them looked after by an experienced and ethical REALTOR give me a call 416 427 1875