Market Watch Feb2016 Summary

As the second month of 2016 came to an end, the listing volume and sales ratio continued to be strong into March, especially east of the city where fantastic opportunity exists in Durham region. Pickering and Ajax prices continue to rise, as demand increases in these vibrant growing communities which are an attractive, affordable option compared to the City of Toronto.

Monthly Tip:

As a Seller, it is common to expect an appraisal to be booked on your property after an accepted Agreement has become firm. The appraiser is sent by the lender/bank of the Buyer and does to necessarily have anything to do with a finance condition that may have been included and waived in your Agreement of Purchase and Sale. These days, most properties will require an appraisal sometime between acceptance and closing.

As a Buyer, ensure that you have your financing pre-approved before you start looking at properties. Listings sell quickly in this market and you may need to present a clean, firm offer. It is also recommended that you have a home inspection done on any property you are considering. In high demand areas, you may want an inspector to attend your showing. This gives you peace of mind and the advantage of a clean, firm offer without unknown defects in the home.

For more information on current market conditions, rates, or advice on buying or selling a home, please contact Laura McBride "Digging in to get it SOLD", Sales Representative for over a decade with Sutton Group - Heritage Realty Inc., Brokerage. 416-798-7278 or 905-619-9500