The Toronto real estate house and condominium market this spring is looking a lot like last year with near record sales, low house and condo inventories and imminent interest rate increases predicted for this summer and beyond.
Last year, sellers finally realized by early May that they could get a good price for their homes and decided to list them all at once. Inventory jumped almost 15% in one month and the average sale price peaked for the year. After the dust settled, thru a busy June, the Bank of Canada raised their rates and the market slowed down.
This year in the GTA, listings of houses and condos are lower than they’ve been since before 2000 and so far there’s no indication that move-up sellers are going to jump into the market.
To get the full market scoop, click on our March Toronto Real Estate Market Report video below.
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