DID YOU KNOW??
*that recorded sales in the Greater Toronto Area for 2010 was the THIRD best year in the history of Toronto’s resale market?
*that the average sale price appreciated by 9% compared to 2009? (while the most pessimistic journalists were predicting up to 20% depreciation!)
*that the forecast for 2011 is a moderate increase of between 3% and 5% to an average sale price range of $440? (currently $431.4K)
*that the average days on market in 2010 was 37 days (except in RIVERDALE/LESLIEVILLE….a STUNNING 16 days! and 101% of list!!)
*that it will be the FIRST year since 2007 that we will see a strong, steady and BALANCED market!
So for all of you buyers who tried to wait out a bigger better deal, I’m sorry. Our only solace now is that prices will not go UP as MUCH in 2011. Another bit of comfort is that we don’t expect the cost of borrowing to change much…especially in the first half of the year. And, now this is HUGE….if our mayor is successful in exterminating that pest…municipal land transfer tax….then the $4K you save on at $400K home is for the new furniture! Yippee!
And for all you SMART sellers and SMART buyers who took the plunge in 2010….Way to go! As we say in the biz…Don’t wait for Spring…do it NOW! And may I thank you ALL for trusting me with the biggest decisions you had to make all year!! I’m soooo greatful!
Happy New Year All!
Your “house” whisperer