April Newsletter: My Best Advice For Buyers Right Now – TO’s Best Small Batch Gelato – Modern White Kitchens
April 23, 2021
Well, spring was in the air…but it will return later this week!
Toronto’s real estate market continues to set records. It was inevitable that sales would be up by volume compared to last March as the market came to a complete halt for a few weeks. However, the average price of a detached home sold in March 2021 was up by 19.2% compared to last March, the average price of a semi was up by 11.5% and the average price of a townhouse was up by 15%. The average condo price was down by .7%, but don’t let that fool you – it’s only because smaller units are selling again. Lack of inventory, low mortgage rates, looming new mortgage qualification rules AND the dreaded FOMO are partly the reason for this market.