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Hey everyone! Welcome to this real estate market update by your trusted real estate
advisor. I'm Craig Woods, Broker at Royal LePage Your Community Realty. The Toronto
real estate board has released its numbers for February 2013. It reports the number of
transactions were down 15.4% from the same time last year. The board's market watch
report shows the average days on market increasing this year. In January it was 37 days which
was a 12.9% increase from January 2012's 32 days. For February it increased 16.9% from
the 24 day average in Feb 2012. This is not to bad if you consider the average days
on market in the Upper Florida Keys is 241 days!
Although it appears it is taking slightly longer to sell a listing the prices continue
to increase. This seems to indicate that sellers are not in a desperate situation and are able
to get a good price for their property. The average selling price rose another five point
eight % from last month's average bringing up the average selling price by over 6.6%
so far this year. The number of active listings is on the increase
and you know what that means? Yep,we need more cowbell. It's a good thing
I have one. If you would like to find out if you qualify for a complimentary marketing
consultation on listing your home, please contact me via the information at the end
of the video. Now you're up to date - Make it a great day!