Posted by genieSABRE on Sep 11, 2011
TREB Market Watch August 2011

TREB Market Watch August 2011

Market conditions remain tight as sales growth outstripped growth in new MLS listings.

Author: Hannif Highclass
Source: TREB
Publish:My Blog: 09/07/2011

Greater Toronto REALTORS®

reported 7,542 sales through the Toronto MLS® system in August – a 24 per cent increase over 6,083 home sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010. Market conditions remain tight as sales growth outstripped growth in new listings. “Home sales in the GTA Toronto have stood up well despite a less certain economic outlook,” said Toronto Real Estate Board President Richard Silver. “Home sales will be bolstered by low mortgage rates moving forward. The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, Home Ownership affordability in the City of Toronto could be further improved with the removal of the City’s land transfer tax. This tax currently represents a substantial upfront cost for home buyers.”

 


[pdf-ppt-viewer href=”http://rebatereps.ca/wp-content/uploads/2011/09/treb-august-20111.pptx” width=”600″ height=”475″],

With market conditions remaining tight in the GTA, the average selling price continued to grow strongly in August – up by more than 10 per cent year-over-year to $451,663.

“We remain on pace for the second best year on record for sales. Approximately 90,000 transactions are expected by the end of December,” said TREB’s Senior Manager of Market Analysis Jason Mercer. “Major home ownership costs, including the average monthly mortgage payment, remain affordable despite the strong price growth experienced so far this year.”

Click here for the complete Market Watch in PDF format.

 


REMEMBER: REAL ESTATE

Home Owners: If, you already own a home – good for you!

May you be blessed with
warmth in your home,
love in your heart,
peace in your soul
and joy in your life.

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genieSABRE recommend you check out our main web site. You will not be disappointed!

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genieSABRE has extensive knowledge and experience in this field. As a developer of commercial /retail plazas (built 3 so far) and owners of residential rental homes, we can guide and advice you as to what is best for you according to your personal financial position.

Call: Hannif Highclass @ 416.444.4252

Do Check out these interesting web sites:

Facebook GTA Toronto MLS Listings

6 Interactive Mortgage Calculators

Sellers Flat Fee Listings & Buyers Cash Rebate

 

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Now it’s Your turn!

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Do you think, that prime rate /mortgage rates are going to go up because of what is happening in States?

 

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