Hi, my name is Jarrett Hunter and I am a downtown Toronto realtor with Royal LePage. This is the market information for March 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 8,518 sales of single family dwellings in the GTA in March, a decrease from March 2006 (8707 sales). Still, any number over 8000 indicates a very robust market overall. The downtown area had a total of 891 active listings with a total sales volume of 491 (almost a 25% increase from February's sales volume). 397 of these were condominiums.
As we enter into the spring market we see many more purchaser's entering and with the short "days on market" numbers we will also see a lot more multiple offer situations for prime properties.
The average days that a property was on the market before selling was a very fast 23.5 days. The average selling price? $330,471 - no dramatic change over last month.
We are hoping for a more "balanced" spring market with supply meeting the demand for homes.
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.
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