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Posts tagged with: real estate market

Mid-September Resale Housing Report

September 16, 2011 - Updated: September 16, 2011

Greater Toronto REALTORS® reported 3,149 transactions during the first 14 days of September, representing an increase of more than 25 per cent in comparison to the first two weeks of September 2010. New listings over the same period, at 6,890, were up by 14 per cent compared to last year.

“Purchasing and paying for a home over the long term represents the single largest financial commitment most households will make over a lifetime. To make this commitment, households must be confident in their economic prospects,” said Toronto Real Estate Board President Richard Silver. “The fact that sales continued to grow through the first half of September suggests that GTA households remain confident that the economy will remain buoyant.”

The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010.

“Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

“In response to strong price growth, more households chose to list their homes for sale in comparison to last August. Growth in listings is expected to continue. Increased choice will result in more sustainable rates of price growth,” continued Mercer.

** Provided By:  TREB, September 16th, 2011

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2nd Best March Result on Record!!

April 11, 2011

Greater Toronto REALTORS® reported 9,262 transactions through the TorontoMLS® system in  March 2011, representing the second best March result on record. The number of transactions was 11 per cent lower than the record result reported in March 2010.

“The strong home sales reported in March and throughout the first quarter of 2011 have been  based on a solid affordability picture and improving economic conditions in the GTA and country-wide,” said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for March 2011 was up five per cent year-over-year to $456,147. The strongest average annual price growth was reported for condominium apartments and semi-detached houses, at approximately seven per cent for both home types.

“Market conditions were tighter in March compared to last year. With more competition between buyers, we have seen a strong but sustainable rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

** Provided By:  Toronto Real Estate Board, April 5th, 2011

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Less Inventory = Buyers Competing for Homes = Great Sellers' Market!!!

February 18, 2011

Greater Toronto REALTORS® reported 3,084 sales during  the first two weeks of February 2011 – a 13% decrease compared to the first two weeks of  February 2010.

"We are on pace for a strong sales result in February, but transactions will come in lower than the record result reported last February. Sales remain strong because the GTA resale market contains a diversity of housing types catering to a wide array of home ownership needs," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of February was $451,257, representing a five% increase compared to the first two weeks of February 2010.

"Average selling price growth for existing homes is expected to range between three and five percent this year. Tighter market conditions over the last four months have pushed price growth to the top end of this range," said Jason Mercer, TREB's Senior Manager of Market Analysis.

 

** Provided By TREB, February 17, 2011

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TREB's Market Watch for December 2010

January 20, 2011

Tagged with: real estate market toronto real estate board vaughan toronto brampton real estate agent mary nacarato mandy coz

What's Happening Mid-Month in the Housing Market?

December 16, 2010

Greater Toronto REALTORS® reported 2,509 sales through the Multiple Listing Service® (MLS®) during the first two weeks of December 2010.


This represented a 19 per cent decrease compared to the 3,079 sales recorded during the same period in December 2009. Year-to-date sales amounted to 84,316 – down one per cent from the 2009 total of 84,888.


“While off the 2009 record, the level of December transactions remains strong from a historic perspective. The number of transactions in 2010 will be the third highest on record,” said Toronto Real Estate Board President Bill Johnston.


The average price for December mid-month transactions was $435,225 – up three per cent compared to the average of $423,103 recorded during the first 14 days of December 2009.


“Market conditions remain tight enough to support moderate growth in the average selling price. Expect the three per cent annual rate of growth reported for the first two weeks of December to be the norm in 2011,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

** Provided By TREB - December 16, 2010

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Bank Of Canada Keeps Interest Rates at One %

October 21, 2010 - Updated: October 21, 2010

Prime rate has remained unchanged ~ see link.

http://www2.mambonetcom.com//cgi-bin/public/redir.pl?cid=2678&rid=11686&id=362

 

Tagged with: prime rate interest rates mortgage rates house affordability economy economic outlook real estate market

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