Market Watch – March 2008

The market watch for March was recently posted on my website and you can’t help but notice the low number of transactions and it’s very easy for anyone to become worried if the market is going to crash. I wanted to take a moment and point out a couple of things:

• We’ve had one of the worst winter in recent memory (we broke 70 year old records) that attributed to keeping buyers and sellers off the fence and seeing properties
• We had 6% less listings than last year which can also be attributed to lower number of transactions
• The average days on market for the year went down this March from 35 in 2007 to 32 in 2008
• Year to date average price for all districts in Greater Toronto Area rose from $363,263 to $379,006

As you can see there are positive and negative points to be noted in the report. It’s all about interpretation. A worthy point to note is that we are still seeing properties that are selling under seven days and with multiple offers. The factors are price and condition of the property. If your property is priced correctly and is in good condition (staged well) then it will sell no matter what market you’re in.

The contributing factor,

Addy Saeed
Real Estate Sales Representative
Re/max Active Realty Inc., Brokerage
Direct: 1-877-HEY-ADDY
Web: http://www.HeyAddy.com