Second Best February on Record!
Hi, my name is Jarrett Hunter and I am a downtown Toronto realtor with Royal LePage. This is the market information for February 2007 for my area which is downtown Toronto – best defined as the area south of Bloor Street to the lake, west of the Don Valley Parkway and east of Dufferin Street. – I like to refer to it as “the Core.”
Toronto Real Estate Board Members reported 6,772 sales in February, an increase over February 2006 (6,756 sales) and the second best total for this month ever recorded! The downtown area had a total of 840 active listings with a total sales volume of 395 (over a 30% increase from January’s sales volume). 324 of these were condominiums.
February’s big sales volume should be a good indicator of yet another busy spring market in the core. The average days that a property was on the market before selling was a very fast 25.5 days. The average selling price? $333,818 – no dramatic increase over January’s average. Looks like we are in a very balanced market for both buyer’s and seller’s. The Bank of Canada has decided to hold interest rates once again so it is still a great time to think about making your next move.
If you require any more specific information, or, want to discuss your own particular real estate needs, feel free to contact me directly via e-mail (Jarrett@jarrett.ca) or call me on my direct line at (416) 410-2300.
As recorded on my Podcast at www.TuneinRealEstate.com