Hi Everyone, part of this post comes courtesy of Doug Hannan- a Broker at Re/Max...yes I do represent Royal LePage Kingsbury Realty, Brokerage, however, like I have mentioned to clients before, we all work "together" I am especially fond of Doug because recently he ran into Darryl Sittler and instead of asking for an Autograph, he bought him a Timmies Coffee. I salute you Doug. Darryl...I have had my eyes on you for sometime, thanks to that special kid Terry Fox. More on that later. Oh and by the way, Doug didn't have the heart to tell you his new joke which I promise to share with at the the next Terry Fox Run in September unless Doug makes a sizesable donation to buy my silence. ; )
I just went thru the Toronto Real Estate Board statistics. Sales are still strong however the inventory levels are on the rise. I’ve put some information together for you. You have this information about 21 days before TREB releases their May report to the media.
So far in May there are 5,015 sales reported to TREB! That puts us on track for about 10,000 sales for May. Although this is a very healthy number, it doesn’t seem we will be venturing into record breaking territory as we have for the last several months. What is significant are the inventory numbers. As of yesterday there were 24,805 homes for sale. Inventory has jumped from 18,431 April 1st which is a 35% increase in about 45 days. Although not abnormal in a typical market, this is significantly different than last year when the inventory actually dropped slightly during this time. Some might say we are going into more of a “Normal Market”. In a few areas and price ranges, things are still pretty tight, but in the majority of districts of TREB there are more choices for the buyers out there. I’ve included a graph that you can review which shows the trends of the market.
We are clearly experiencing one of the most interesting real estate markets ever.
If you know anyone who wants to take advantage of some interesting market conditions, whether they want to sell OR buy, the key is working with the right agent. It’s more critical now than it has ever been. That’s where I come in.
Call me with their information or give them my number. I’ll work hard for them and give them the “ Royal Red carpet” treatment!
Have a great day everyone....gotta show some houses that my clients will turn into homes!
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