March 2012 Market Update – Tight Market Drives Price Growth
March was another strong month for the Toronto Real Estate Market. There were 9,690 sales reported by the Toronto Real Estate Board, up by almost 8% in comparison to March 2011. The average selling price was $504,117, up by 10.5% from this time last year. The positive affordability picture brought on by low mortgage rates, has spurred buyers on. With a lack of inventory, many listings have attracted multiple offers, resulting in price growth.
“Toronto’s Condo Authority”