Where are the hot properties in this crazed market?
Well if you decifer the December statistics and are looking for detached homes north of Eglinton to the 401, 11 of 37 sold with an average price of $434,000. That is the W09 district.
If looking to buy or sell a Condo Apartment in Etobicoke 15 sales out of 51 listings sold in the same area but this average price is in the $125,000 range.
For Condo Townhouses the hottest market was south of Eglinton to Burnhamthorpe(W08) where 4 out of 10 listings sold in the lower price ranges of $250-260,000.
The average length of time for a sale is in the 34 days on market range. In W07 QEW north to Bloor area it was the lowest at 27 days average.
Power of Sales listings have surged with all the Banks tightening their belts apparently. Last year at this time a random search of Bank sales would offer up 5-10 listings . Now that has jumped to four to five times that number currently. This includes condos, commercial and detached homes.
With the interest rates at all time lows this is the opportunity you've been waiting for. You can buy properties for 10 to 20% less than a year ago. If you intend to fix and flip quickly to keep carrying costs at a minimum and get on the Spring market any one of the above markets are showing good activity. In some cases due to the weather and this slower current market there is still a substantial yet smaller profit available.
This months websites to check out the best way to organize your emails, videos,social networking with your desktop, laptop, mobile device would be dimdim.com and zenbe.com. Google them if the link is not working.
Happy Hunting!
Mortgage Rate Watch and Comparison
