April 2012 Real Estate Update

In the GTA, there were 10,350 sales recorded with TREB in April 2011. This is 18% higher than last year’s sales in April 2011.

The hottest interest and demand has been with single-detached homes in the GTA. The number of listings of single detached homes has not kept up with demand. This has resulted in competition between buyers and has also resulted in a strong price increase in this market segment, up 8.5% compared to April 2011. With a lower number of available homes for sale, this has resulted in competition between buyers and also resulted in price growth. The other segments, such as condominium apartments experienced a more moderate price increase of 4%, since there was more supply.

With low mortgage rates, this has encouraged buyers that they can achieve home ownership, and is a positive factor influencing home sales. Although, interest rates are expected to increase over the next two years, the timing of these increases could be delayed by slower than expected growth this year.

Thinking of making a move? Call Leif - Your Mississauga Real Estate Agent

January 2012 Real Estate Update

For January 2012, there were 4,567 sales recorded with TREB. This is actually 8.8% higher than last year’s sales in January.

With very low advertised fixed mortgage rates, this has encouraged buyers that they can achieve home ownership.

Yet, at the same time, sellers are also benefiting, as the average sales price for homes in the GTA in January 2012 was $463,534. This is up nine percent compared to last year.

With a lower number of available homes for sale, this has resulted in competition between buyers and also resulted in price growth.

With home price values on the rise, it is likely that this will prompt more households to list and will then balance out inventory levels.

Thinking of making a move? Call Leif - Your GTA Real Estate Agent

December 2011 Market Update

In December 2011, there were a reported 4,718 TREB sales.
For all of 2011, the total number of sales amounted to 89,347. This is up 45 compared to last year.

With the low borrowing costs, this made Buyers confident to buy.
In 2011, the average home selling price was $465,412. This is an 8% increase compared to 2010.

With many months of low listing inventory, this resulted in higher selling prices.
For 2012, TREB is forecasting the average home price to rise a more moderate four percent increase.

Buying or Selling in Mississauga, Oakville, Milton, Brampton or Toronto? Call Leif - Your GTA Real Estate Agent

May 2011 Real Estate Report

In May 2011, there were 10,046 sales recorded with TREB. That is up six percent in comparison to May of last year. Also interesting is that there was 16,076 new listings. When compared to last year, the number of listings is 15 percent less. These numbers indicate a definite seller’s market with a market that has become much tighter compared to last year, due to a substantially less listings.

The average price of a home on the market was $485,520. This is up nine per cent compared to May 2010. With home price appreciation on the rise, it is likely that this will prompt more households to list, resulting in a more balanced market later this year.

Thinking of making a move? Call Leif - Your GTA Real Estate Agent

April 2011 Real Estate Market Update

In April 2011, there were over 9,000 existing homes sales through Toronto MLS. The number of sales is 17% lower than April of 2010 where there was a new sales record set for April of 10,898. Although this year’s sales are lower than last year’s, they were in line with the number of sales in the previous five years.

We can expect the pace of sales to remain good as spring and summer months are favorite times to buy and sell. The average selling price is up by 9% this year because of tighter supply. Since the number of listings on the market are low, it has resulted in increased buyer competition, resulting in strong price growth. It is expected that May will have more listings and more balanced market conditions.

Planning to Buy or Sell in Mississauga, Oakville, Milton, Brampton or Toronto? Call Leif - Your GTA Real Estate Agent

February 2011 Real Estate Report

In February 2011, there was a reported 6,266 transactions through the Toronto MLS system. This was 14 percent lower, than the record pace set last February in Mississauga, Oakville and Toronto and GTA. Even though February 2011 did not set a new record, it was 50% higher than February of 2009 and higher than the February average for the past decade. The average selling price in February 2011 was around 454,000, that is a 5% higher average selling price than last February.

Demand for ownership continues as the economy in the GTA sees healthy growth and a declining unemployment rate. The average home price continues to grow, but not as much as in the past year, however, the Toronto Real Estate continues to doing well.

Planning to Buy or Sell in Mississauga, Oakville, Milton, Brampton or Toronto?
Call Leif - Your Mississauga Real Estate Agent

January 2011 GTA Real Estate Report

In January 2011, there was a reported 4,337 transactions through the Toronto MLS system. This was 13 percent fewer homes, than January 2010 in Mississauga, Oakville and Toronto and GTA. However, the average selling price has increase four to five percent on a average compared to January of last year. The average selling price in January 2011 was around 427,000.

The forecast for the future, is that the average home price will continue to grow, but not has much as we have experienced in the past year. However, the market is healthy and doing well.

Planning to Buy or Sell in Mississauga, Oakville, Milton or Brampton?
Call Leif Kalaas - Your Right at Home Agent.