Another BROKEN RECORD! and I apologize if I “sound like one!” Not since February 2010 have sales in the Toronto Market been so brisk.
So here’s the scoop!
- Sales in the GTA are up by 21% even after accounting for the extra LEAP day.
- New market Listings are up by 8%….but clearly, we are still not meeting buying demand.
- The average sale price for a home in the GTA has soared by 15% to $685.3 K (but that’s CHEAP compared to the average sale price in Vancouver now boasting $1.3 Million!
- In the city of Toronto: Detached home sales have risen by 12%.
- Sales of detached homes are mostly located in the 905 area code; in fact sales there are 4 times as great as those in the city.
- But, where semi’s are concerned the ratio of sales 905 compared to the city is only 2:1…allowing me to posit that supply may be running low in the burbs as well!
- Condo sales in the city are up by a whopping 26%!!!
- Condo prices are also way up by 18% to $435.6K….this has everything to do with lots of people (both first-time buyers) who are priced out of the market finding their housing options in the condo market. And those condos are very good investment vehicles as well….so investors are getting on board. Our data still tells us that speculation is at a very low level and that most of these sales involve end users….so we see no “bubble” here!
If you want more details on February’s stats just click on the link http://bit.ly/1TSQRXn
If you (or someone you know), are looking for a Realtor who cares MORE about focusing on you, your concerns, goals and the successful purchase or sale of YOUR unique home, than they care about their volume of transactions and awards, please let me know the best way for me to connect, as I would love to offer my highly personal service. Contrary to that old expression, not only IS this business, but it IS personal! And, please, I encourage you to ask me any questions you may have about this post. I value your input and appreciate the time you took to read it.