Toronto Home Prices Show Signs of Rebound - Can I Call You Today?
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Greater Toronto Area Report March 2018, Steve Moran, Remax
House prices in the Toronto area continued to show signs of stabilizing in March; fueling predictions the area will see stronger price growth in the second half of 2018.
The average price for all housing categories in the Greater Toronto Area was $784,000 in March, down 14 per cent from March a year ago, prior to a steep market drop that began last May. However, the average sale price in March was up 2.2 per cent compared to February this year, driven by modest growth in detached home prices.
It is the third consecutive month that average sale prices have risen in the GTA compared to the prior month.
The average detached house in the GTA sold for $1,005,000 in March, which was down 17 per cent compared to a year ago.
The average GTA condo sold for $551,000 in March, up 6.1 per cent compared to March last year.
Looking forward, I expect the annual rate of price growth to improve in the second half of the year as sales increase relative to the below-average level of listings.
Thanks for watching, I would be happy to help you with your real estate needs. I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com.