ht a finale to 2011...and delivered the SECOND BEST YEAR IN SALES IN THE HISTORY OF THE TORONTO REAL ESTATE BOARD! So this year has been one of THRILLS as opposed to PILLS! .....for sellers! For those buyers who were able to find and purchase their dream homes in 2011...HUGE CONGRATS! For those who didn't get to that crowded offer table on time....we'll do it in 2012!! Here's how the intel breaks out in the GTA:* Average sale prices UP 4% compared to Dec/10 but for the year, UP 8% overall
* Total sales for 2011 UP 4% over 2010
* Active listings UP 13% compared to Dec/10 BUT we still have only 2.2 months of supply, meaning the Sellers still RULE!....we need 4-6 months worth of inventory before we have a "level playing field".
* Average days on market DOWN this December, 32 days compared to last December of 37 days. (unless you were shopping in Riverdale or The Beach...YOU had only 12 days to get your bids in!!)
While GTA numbers are good to know, most of you want to know about YOUR corner of the world...so I'll drill down a little more...
Average sale price IN DECEMBER for DETACH home in: CITY OF TORONTO: $701kk
CENTRAL CORE: $1,091KK (location, location, location!)
Average sale price IN DECEMBER for SEMI-DETACH in CITY OF TORONTO: 5517KK
CENTRAL CORE: $654K
CONDOS: Average sale price in December GTA $330K UP 18% over l/y BUT, in the CITY where 56% of active listings are...average price is $416K
BOTTOM LINE: "Thrills or Pills" are in the eyes of the beholder! We anticipate and TRULY HOPE FOR...an increase in New listings that will help us to serve our purchasers better as well as to satisfy the needs/objectives or our sellers. Yes, we would like the real estate market "to CHILL"!!
I'm ready to go to work with you NOW so run, don't walk to your nearest phone/handheld/tablet and CALL!
