I just reviewed the stats from the Toronto Real Estate Board. TREB reported that in January, there were 4,567 sales for the month in the Greater Toronto Area which is approx 9% more sales than reported during January 2011.
At the end of January there were only 11,009 homes for sale in the GTA. This number is very low compared to the 12,109 for sale at this time last year and represents a 9% DROP from last year. Contrary to what I was expecting, inventory is NOT climbing meaning the market is “hotter” than I would have guessed. MORE sales and LESS inventory. In general terms, The Law of Supply and Demand has tilted even more in the favour of Sellers.
What does my crystal ball say? My Answer: It looks like the Spring Market may be a little “hotter” than most people thought (including myself). We simply can’t get enough homes listed in the popular areas and price ranges to quench the thirst of the buyers out there waiting to pounce on them. I do feel however that we will see more downward pressure in some higher price ranges and country properties.
Click this link http://www.thestar.com/news/article/1128392--census-2011-milton-fastest-growing-community-growth-outpaces-some-infrastructure-like-hospitals-and-schools?bn=1#.TzPI06M_F14.facebook for an interesting article on the development & growth of communities in Canada. Milton is the fastest growing community in Canada.
Whether selling OR buying, the key to taking advantage of current market conditions is working with the right realtor. When you hear of anyone who may want to buy or sell, please contact me at the office. I promise you that I will take care of them, do a great job and provide them with the best customer service. If you would like any more information, I’m here to help.
Lisa Portolese, Sales Representative
Royal LePage Kingsbury Realty, Brokerage
30 Eglinton Avenue West, Suite 200
Mississauga, Ontario, Canada
Bus (905) 568-2121
Cel (416) 953-9714
Email LisaMovesYou@Rogers.com
Website www.lisamovesyou.ca
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