Market Update For The Week Ending April 7th - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale

Market Update For The Week Ending April 7th

07 April 2014
Bosley Real Estate

You’d never know it from stepping outside, but the weather is improving and while we are still waiting for that one last snow fall (yes, you know it’s coming), we know the general trend points to warmer temperatures ahead and that can only mean one thing....more listings. Hallelujah!

Buyers were relieved last week as listings of freehold homes in the core improved by slightly over 11%. The number of sales remained unchanged but with more homes on the market, the number of multiple offers retreated 4% off the historic high of the week before (70%). The west core was the only area where available listings dropped yet sales increased signifying a tightening in that market. In the east core, the opposite held true. There we saw a significant increase in available listings (up 34%) and a 20% decrease in sold properties. It is often interesting to see how the tide in buyer habits shifts east to west and then back again, while the central core remains relatively constant.

The condominium market saw a significant increase in the number of new listings coming to market last week. This was most notable in the entry level and move up markets ($200k-$400k and $400k-$700k) in the central core where 148 suites where added to those categories. Both the east and west core saw little change to their availability levels. The good news is that, across the core, the number of suites selling at or over the list price has remained consistent over the last three weeks at 25%.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto and Niagara-on-the-Lake since 1928. We have four centrally located offices and over 220 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately report on the true temperature of the real estate market.

Here Are The Top Five Trending Stories Of The Week:         

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BMO's Mortgage Rate Cut Won't Have Big Impact On Housing Market

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Too Little Known About Health Of Housing Market: Economist

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