Style4Living: Real Estate FYI
Friday, November 11th, 2011
October homes sales across the GTA remained very strong this year with a total of 7,642 sales recorded – up 17.5% compared to October 2010. The average sale price also increased from October last year by 8% to $478,137.
Although we’re still seeing a sellers’ market in many GTA neighbhourhoods, buyers who were having difficulty finding something to buy in the spring and the summer had better luck last month due to and increased supply of listings. Jason Mercer, TREB’s Senior Manager of Market Analysis predicts a strong finish to 2011 as low interest rates continue to enable a positive affordability picture across the GTA.
If you’re a first time buyer or if you’re thinking of making your next move in the real estate market it’s time to get in touch with us! Whether you’re on the listing or buying side of things, we provide excellent service. We’re here to help you find your Style 4 Living so get in touch with us today to set up a free consultation.
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Wednesday, October 12th, 2011
The September market this year surpassed September 2010 sales by 25%! There were a total of 7,658 transactions bringing the first three quarters of 2011 to a total of 70,588 – a 2.6% increase over the first nine months in 2010.
We have had a much more active summer than last year; however, we are still experiencing a shortage of listings resulting in continuous competition between home buyers. Now that fall has officially arrived the listing situation is starting to improve so it is expected that home buyers will have more options to choose from in the upcoming months. That being said, annual growth in sales for September was 25%, where annual growth in new listings was only 15% – so market conditions remained fairly tight last month.
Low interest rates and rising incomes continue to play a large role in housing affordability across the GTA. If you are thinking of getting into the real estate market or making your next move contact the Style 4 Living Team today for your free consultation!
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Thursday, September 15th, 2011
The strong summer sales continued throughout August this year with a reported 7,542 GTA wide – a 24% increase from sales in August 2010. The number of new listings was up 20%; however, market conditions remained tight in most Toronto areas as overall sales growth surpassed the growth of new listings. These tightened conditions have once again led to an increase in average sale price this month totalling $451,663.
Jason Mercer, TREB’s Senior Manager of Market Analysis, reports that the market remains on pace for the second best year on record and expects that approximately 90,000 more transactions will occur by the end of December. Low mortgage rates continue to play a large role in housing affordability as well–with rates as low as 2.99% for a 4 year fixed mortgage.
Fall is just around the corner which means the market is about to pick up speed yet again! In order to make your next home purchase or sale a success you need a hard working Realtor representing your interests in the transaction. If you have any questions about the real estate market or if you’re thinking of buying or selling your home, get in touch with the Style4Living Team now for your free consultation!
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Thursday, August 11th, 2011
Real estate sales in July 2011 were booming GTA wide! TREB reported a 23% increase from sales in July 2010 for a total of 7,922 transactions. This time last year, sales slowed immensely due to the confusion over HST, higher mortgage rates, and new lending guidelines. However, strong sales were reported last month soaring over last years records – the greatest number of sales being seen in the condominium apartment sector. For the first 7 months of the year things are pretty much on par with last years records – only down a slight 1.3% overall.
Tighter market conditions have been the catalyst to the boosted rate of price growth this year. The average sale price in July 2011 was up 10% compared to last year at $459,122. Fortunately, the number of listings is gradually starting to improve and it is predicted that price growth throughout the second half of the year will be more sustainable.
Whether you are looking to buy your first home or make your next real estate move make sure you are working with a Realtor you can trust and that has your best interests in mind. Get in touch with the Style 4 Living Team today for your free consultation!
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