Am I NUTS? or is this market getting crazier by the minute!
So more RECORDS have been broken during this “Merry Month of May”!!
1 Sales in the GTA UP by almost 11%
2 Average sale price soared by a whopping 15.7%! to $752K (last year at this time, a mere $650K)
3 New listings are DOWN by over 6% but WORSE…TOTAL LISTINGS down by 30%! Yes by almost ONE THIRD….I have NEVER seen that stat in the past decade, and I am betting this is a record number too.
4 Average days on market DOWN another 17% from 18 days last year, to 15 days this year.
5 CONDO sales UP by 22% but average sale price is up by only 5%, well above inflation (we worship the SUPPLY gods!)
And if you’re looking for homes in Central Toronto…well, here’s what you’re going to have to “cough” up;
**average price of a detached home is now $2ML+
**average price of a semi-detached home is now $1ML+
**average price of a condo apt is almost $1/2ML
All you Buyers out there? Are YOU going nuts? Are you losing out in Bidding Wars? Do you have fear of missing out?
I have a few ideas on how to help you avoid not only the “nuttiness” of this market, but also on how to get better bang for your real estate buck…so contact me now. I am happy to share what I know and would love to help you get what you so richly deserve…either the highest price for your home sale, or the lowest price for your home purchase…or BOTH!