Finally some good news about the Real Estate market! I heard a little tid bit on 680 News yesterday about how the "doom and gloom" of the market is on its way out and home values are on the rise. They stated that for 2009: "In Toronto, the average price of a standard condo rose 2.9 per cent to $309,316, detached bungalows rose 9.9 per cent to $446,214 and standard detached homes increased 3.5 per cent to $564,175".
To read more about this, visit 680 News.
And of course, interest rates are still low which increases activity and right now there is almost no inventory for these buyers to look at. This being the case, it is rare not to be in a multiple offer situation.
Karen
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