Sales Slow Due to Very Low Inventory in Toronto - March 2018 Sales Stats
Wednesday Apr 11th, 2018
March 2018 - 7,228 sales changed hands, a decrease in sales compared with the high of last last year but a large increase in sales from last month.
Average selling prices were down by 14.3% year over year. This due mainly to detached houses losing some value from their peak last Spring.
Condos are still gaining value year over year with large increases over last year. Unlike Traditional Houses the Condo market is very hot right now.
Inventory is still very low on all fronts and Quality new listings are not lasting long on the market.
Condos are now starting to increase in value by a higher percentage compared to houses. This represents a stark shift in the mind of the buyer. Condos are now viewed as the more realistic home choice for buyers to not only live and grow in but to get a foot hold into the Toronto market.
Contact me for more details: gaelen@gaelenpatrick.com or direct at 416-801-9265
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