Scarborough Selling Fast

Amanada Crescent in Scarborough. Just sold for over almost 7% over asking, the market is very hot because there is a shortage of homes on the Toronto real estate market. This is a great time to sell because the rates are still very low. This is a great time to sell out move into Durham Region where homes are still much cheaper.

Toronto Durham Peel York real estate market update for April 2011

The market is very active, but not all areas have been the same, it looks like each area is moving at its own pace. The interest rates did go up, just a couple of days ago, putting the fixed rate at or above 4% on a 5 year fixed rate. The variable for now has stayed the same. We are seeing the prices go up in most areas, seeing the 3% increase, as expected and more in some areas. It has not seemed that the elimination of the 35 year CHMC mortgage has had much affect on the market. The rates continue to be at an all time low, making it a great time to purchase, sell or invest in real estate. If you have any questions or have friends and family that are looking for assistance from a professional realtor, don't hesitate to give them my direct line at 416-225-2290, I am always very happy to assist your friends and family. Also if you, your friends or family, are looking for a new mortgage, renewal or refinance, don’t hesitate to call so that I can pass along my discounts and advice.




Here is the complete Toronto Real Estate Market Report for the month ending March 2011:


Market Statistics

Market Watch

Second Best March on Record

April 5, 2011 -- Greater Toronto REALTORS® reported 9,262 transactions through the TorontoMLS® system in March 2011, representing the second best March result on record. The number of transactions was 11 per cent lower than the record result reported in March 2010.



"The strong home sales reported in March and throughout the first quarter of 2011 have been based on a solid affordability picture and improving economic conditions in the GTA and country-wide," said Toronto Real Estate Board (TREB) President Bill Johnston.



The average selling price for March 2011 was up five per cent year-over-year to $456,147. The strongest average annual price growth was reported for condominium apartments and semi-detached houses, at approximately seven per cent for both home types.



"Market conditions were tighter in March compared to last year. With more competition between buyers, we have seen a strong but sustainable rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.



Median Price

In March, the median price was $385,000, from the $370,000 recorded during March of 2010.

For more information visit: http://www.theamigo.ca/ "Your AMIGO in Real Estate"

Real Estate Market is Heating UP

WOW, I have been working in and around Toronto over the last couple of days and the market is really heating up in certain areas. Everything is multiple offers. The spring market has started early this year. The reason behind this is the recent changes with CHMC, elminating the 35 year mortgages, by March 18,2011. If you are thinking of selling your property this year, this might be the perfect time to do it.