April 2007 Market Watch

Best Day Ever, Best Month Ever!

Did Toronto have home shopping fever or what?

The highest single day total of sales was on April 30th with 581 sales reported. Even more significant, April 2007 was the highest single month sales total ever reached - an astounding 9,452 sales! (that's 113% of April 2006).

And it looks like May is going to blow that number away with 5,003 sales reported during the first 15 days of this month.

So what does this mean for home owners and home buyers?

Year-to-date prices are rising steadily - nearly 5% over last year - with the average home in the GTA at $379,025. Values are increasing but buyers should not be waiting for the market to 'drop' to get into a home...you will be waiting a very long time, maybe forever!

The average time it took to sell a home fell to 28 days and the average sale price rose to 99% of the list price.

This is showing a lot of confidence in the market, and a lot of demand.

Looking to make a move or get into the market? Capitalize on your equity now or get into a position to start earning some.

As a city that is comparatively under-valued, real estate will continue to be a wise investment.

To find out what your home is worth, or to check out new listings, contact me at:

(416) 728-2499
info@markrichards.ca

Regards,
Mark


Neighbourhood Watch - April 2007

E02 -The Beach (coxwell, danforth, victoria park)
Detached: $629,591
Semi-detached: $467,974
Condo: $384,439

E03 - Danforth North (DVP, victoria park, danforth)
Detached: $423,997
Semi-Detached: $410,992
Condo: $181,592

E01 - Danforth South & Riverdale (DVP, danforth, coxwell)
Detached: $427,929
Semi-Detached: $397,596
Condo:$366,879

C04 - Bedford West & Lytton Park (allen, 401, yonge, eglinton)
Detached: $930,303
Semi-Detached: $555,609
Condo: $289,875

C09 - Rosedale (yonge, st.clair, bayview, bloor)
Detached: $1,892,179
Semi-Detached: $547,000
Condo: $382,000

C03 - Forest Hill (allen, eglinton, yonge, st.clair)
Detached: $974,930
Semi-Detached: $451,153
Condo: $427,938

C12- Lawrence Park/Bedford East (yonge, 401, leslie, eglinton)
Detached: $1,412,840
Semi-Detached: n/a
Condo: $504,625

Source: Toronto Real Estate Board April 2007 MarketWatch - for the full report, click here.

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