Toronto Waterfront

Improved consumer confidence and a pent up demand from dismal fall and winter Real Estate results have buyers back into the the new and resale Toronto Markets.

The May Toronto Real Estate Market, continues to move forward in sales and prices in month over month results since January 2009.

Fewer sellers on the Toronto home and condo  Market are resulting in multiple offers and bidding wars for single family homes and many downtown Toronto Condos.

Challenges in the economy and political constraints like the  new HST tax and the Toronto Land Transfer Tax could start a slowdown in a fundamentally sound Real Estate Market.

Buyers who waited to buy in our fall and winter Real Estate Markets, are now active but good properties go fast so buyers that can now afford to buy now, are bidding up the selling price of Toronto Homes and Condos.

Toronto Realtors reported 9,589 sales, up 2 per cent from the same period a year ago. This was the first annual increase in sales since December 2007. The Toronto Real Estate Board attributes this resilient resale housing Market to home buyers taking advantage of much lower mortgage rates.

Condos in the Central Toronto Districts (  C09, C11 ) increased 7 per cent from May 2008 to May 2009. Other Central Condos we follow, were down year over year from 2 -12 per cent.

Related Posts:

Toronto Condos Resales May 2009

Toronto Real Estate May Sales Higher

Toronto Condos Downtown