Despite the challenges of the cold winter and mountains of snow the New Year 2014 has started strong in Real Estate in Toronto. Average selling price for home in January 2014 was up by 9% in comparison to January 2013. Despite strong price increase home ownership in Toronto remains affordable.
It is a great time to list your home for sale as the inventory of listings is still low while many people continue looking for their new home and the competition between buyers continues.
According to Toronto Real Estate Board report we can expect a very strong Spring Market, with continuous increase in selling prices and no major changes in mortgage rates which are still close to historically low.
Click Here for full Report: http://www.torontorealestateboard.com/market_news/market_watch/2014/mw1401.pdf
It is expected that the price growth will remain strong throughout 2014, and therefore the increase in home equity will motivate more homeowners to list their homes for sale.