Posted by genieSABRE on Feb 25, 2012
TREB Market Watch February 2012

TREB Market Watch February 2012

Strong Sales/Price Growth Continue in 2012

Source: TREB
 

TORONTO, February 3, 2012 — Greater Toronto REALTORS® reported 4,567 sales through the TorontoMLS® system in January 2012. This number was 8.8 per cent higher than the 4,199 sales reported in January 2011. Sales growth
was strongest for low-rise home types in the regions surrounding the City of Toronto.

“A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers confident in their ability to achieve the Canadian goal of home ownership,” said Toronto Real Estate Board President Richard Silver.

The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum, The average selling price for January 2012 transactions was $463,534 –up by almost nine per cent compared to January 2011.

“Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year. Strong price growth is expected to attract more listings. A better supplied market should result in a slower rate of price growth, especially in the second half of 2012,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

 

  
Toronto Housing Market Report
 

NOTE: View more presentations from genieSABRE

Interested in narrowing it down to your Area, Community — For a complete breakdown of

  • SALES BY PRICE RANGE AND HOUSE TYPE
  • SUMMARY OF EXISTING HOME TRANSACTIONS
  • HISTORIC ANNUAL STATISTICS

CLICK HERE: http://rebatereps.ca/wp-content/uploads/2011/08/statistics_07_011.pdf
 

Bottom Line

You may pay a hefty price for the convenience of not having your property on the market right now.

Disclaimer: This blog covers the national housing market as a whole. Please check with a local real estate professional to discover how the following information will impact your region. GenieSABRE

Related Articles of Interest
Why Do You Want To Buy a Home
A Nation’s Strong Belief in Home-Ownership
Picking the Right Agent is Crucial

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