BC and Ontario housing markets feel effects of HST in July
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Resale housing forecast revised
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In today's competitive real estate market, timing is everything. Many properties are sold before they are ever advertised. Beat other real estate buyers to the hottest properties for sale with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to arrange a FREE Evaluation. Whether you are buying or selling a property, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.In addition, if you have any general questions about buying or selling real estate, please contact me. |
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Toronto real estate market in decline
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February 20. 2012
Home sales up by 9% in February
Greater Toronto Realtors reported 3,206 sales through the Toronto MLS® system through the first 14 days of February 2012 – up by more than 9% compared to the 2,933 sales reported during the same period in 2011. New listings were up by 13% over the same period.
“The GTA resale home market became better supplied during the first 14 days of February. If growth in new listings continues to outstrip growth in sales this year, competition between home buyers will ease. More balanced market conditions on a sustained basis would result in a lower annual rates of price growth later in 2012,” said Toronto Real Estate Board (TREB) President Richard Silver.
The average selling price during the first 14 days of February was $491,493 – up by nine per cent compared to the first 14 days of February 2011. On average, sellers received 99 per cent of their asking price and their homes were on the market for an average of 25 days.
“Both buyers and sellers are aware of the substantial competition that exists for most listings in the GTA. There is not a mismatch in expectations, so homes sell quickly at close to the asking price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
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