The Toronto real estate market seems to be proving time and time again that all the negative debbie downers’ market predictions are incorrect, with prices on the rise and interest rates still remaining at an all time low the market is looking pretty positive for the next while.
April was a very hot month for not only Toronto but all of GTA! Single detached home sales were up 22% compared to April 2011, condo sales were up 4.4% and overall sales were up 18% compared to April 2011 with 10,350 transactions reported.
The average price for April 2012 in the GTA is now $517,556 which is up 18.5% compared to last year at the same time and the Toronto average price for April 2012 is currently sitting at $568,436.
Take advantage of these great interest rates and buy now! After all, wouldn’t you much rather pay more for the house at a lesser interest rate so it goes back in your pocket instead of the bank’s? Makes much more sense to me!