March MLS Numbers Indicate Real Estate Bottom**NOW IS THE TIME TO BUY

Toronto -April 6, 2009

In March 2009, Greater Toronto REALTORS reported 6,171 sales - down 7% from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 - down less than 5 % from the same month last year. "The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months," commented TREB President Maureen O'Neill.

"In fact, over the past two months, the situation in the housing market has improved."

"Sales in March incresed at a rate over and above what would be expected from the normal spring-time bump," said Jason Mercer TREB's Senior Manager of Market Analysis. "A greater number of households have taken advantage of incresed affordability in the housing marketplace"

MORE positive news is that the 'days on market' fell from February 2009--45days to March 2009--39 days. This is the largest positive indication of recovery...the number of days for a property to sell.

With prices down a little from last year and interest rates at historical lows, it is 20% cheaper to own real estate in Toronto. NOW is THE TIME to BUY. Prices will not stay lower and interest rates will go back up.

Comments

Holiday Travel Tips for Your Home

The festive holidays are approaching, and calendars are already filling up. Whether you’re staying with family around the country or taking an extended leave to escape the winter, you may be planning to leave your home vacant for more than a day or two. To ward against coming home to the wrong kind of holiday surprise, here’s what to do before you depart. Cheap Wi-Fi cameras Security equipment might sound high-tech and expensive, but securing your home against potential intrusion doesn’t cost much. For around $30, you should be able to outfit your home with WIFI cameras which are home assistant compatible. Shut the main water off Remember to shut off the main water supply if you plan to be away from your home for more than a day. In the event of a plumbing failure, your home could fall prey to serious water damage. Install smart water sensors in your basement Installing a smart water sensor in your basement can easily save a lot of money and worry. Some models will alert you to leaks a...

GTA REALTORS® Release November 2024 Stats

Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year. “As we approach the end of 2024, I am pleased to report an improvement in housing market conditions. Many home buyers patiently waited on the sidelines for reduced inflation and lower borrowing costs. With selling prices remaining well off their historic peak and monthly mortgage payments trending lower, the stage is set for an accelerating market recovery in 2025,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce. GTA REALTORS® reported 5,875 home sales through TRREB’s MLS® System in November 2024 – up by 40.1 per cent compared to 4,194 sales reported in November 2023...

Jason Walker Real Estate in Toronto

Search This Blog