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March 2012: Prices Keep Rising
Posted March 26th, 2012 under market updates.
The Bank of Montreal's announcement of another five-year term at an investment rate of 2.99% seems to have sparked another buying rush. Brampton is continuing to experience a shortage of listings, and the sales-to-listings ratio remains around 57%, as good properties are selling as quickly as they come on the market.
This is continuing to cause prices to rise, despite already having attained high levels. February saw an average rise of 1.25%, with detached homes taking the lead at 2.4%. The average price increase since February 2011 is a whopping 13% for detached homes in Brampton. Prices simply cannot escalate like this without an adjustment coming eventually.
If you're thinking of making a move, now's the time to get high value for your property.
Want to know more about the state of the market? Just ask me, I'll be happy to help.