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December - Toronto Real Estate Report- Balanced, Looking Good
The figures for November have come in and as was expected the number of transactions in the GTA are 13 per cent lower at 6510 in November 2010 from 7,446 in November 2009.
On a month-over-month basis, the seasonally adjusted annual rate of sales increased for the fourth straight month to 88,100.
Though we have seen a tightening of the resale market in the GTA... the market continues to be healthy with the average price is up five percent compared to November 2009 at $438,030.
More recently, on my listings, I have seen in the past few weeks a lot more Buyer showings. There was a lull from Mid-October to Mid-November but consumer's are showing confidence in the Canadian Housing Market.
Last weeks RBC Q3 report showing that homes were more affordable in the third quarter may be helping Buyer's confidence and getting them back in the market. It also helps that the Bank of Canada is holding the overnight rate at 1%. This will continue to keep the Mortgage rates low and keep housing affordable for the average family in the GTA.
So what should be expect in 2011?
Well, Jason Mercer, TREB's Senior Manager of Market Analysis says we should "expect the average selling price to grow at a moderate pace". In other words... we have a balanced market and it is a great time for Buyers to buy, upgrade, downsize or invest and Sellers to put their house or condo on the market.
While you are in the Christmas, Holiday spirit, please take a moment to support Habitat for Humanity and making your tax deductible donation. Receipts will be e-mailed to you. Thank you for your generosity.
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Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
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Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com
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May 2010 - Toronto Real Estate Housing Market Statistics
Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos Real Estate: http://www.JasJagpal.com
GTA REALTORS® Report Monthly Resale Housing Figures
TORONTO, JUNE 3, 2010 ‐ Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.
"The pace of transactions slowed in May following record‐setting sales in February, March and April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes.”
New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.
"The gap between listings and sales has widened, which means there is more choice for buyers," said Jason Mercer, TREB's Senior Manager of Market Analysis. “The annual rate of price growth will slow in the second half of 2010, from the current double digit pace into the single digits.”
For all your real estate needs call Jas Jagpal at: 647-272-6629 or email: jasjagpal@gmail.com
Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos Toronto Real Estate – http://www.jasjagpal.com
Posted on: www.1stoprealestate.ca, www.linktomorningside.com, www.markhamboxgrove.com
Toronto Housing Market Charts - April 2010 - Jas Jagpal
Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos Real Estate: http://www.JasJagpal.com
For all your real estate needs call Jas Jagpal at: 647-272-6629 or email: jasjagpal@gmail.com
Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos
Toronto Real Estate – http://www.jasjagpal.com
Posted on: www.1stoprealestate.ca, www.linktomorningside.com, www.markhamboxgrove.com
