Average Prices Continue To Rise - Total Sales For The Year Up Slightly MONTH END REPORT
Greater Toronto Realtors® reported 6,681 sales through the MLS® system in October 2010. This is down twenty one percent from the booming market of last October.
Despite this the year to date sales are still up one percent and average prices continue to rise with a year over year increase of five percent.
Looking at the mid month sales data below we see an increase in the number of sales in the last half of the month over the first half across the overall GTA. There was a 16% increase in sales activity in the City of Toronto and a 26% increase in the 905 region.
In an earlier post that looked at What Potential Buyers Are Looking At? you can see the trend to higher priced homes from earlier in the year. Coupled with the continued rise in average sales this could indicate a shift in the potential buyer demographics.
The Real Estate Market Is Local
and sometimes hyper-Local
These figures represent a broad range of properties over a wide area. The best way to determine the Value of Your Home is a Comparative Market Analysis. To discuss today's local Uxbridge Real Estate Market Conditions, the current value of your home or the marketing of your Home please give me a call or text me
MID MONTH REPORT
The GTA Market is currently in a state of flux with mixed indicators showing up.
While year over year sales for the year are up the number of sales to date in the month are down. The average sale price for October Mid Month transactions is also up from the first 14 days of October in 2009.
"we are seeing enough buyers relative to sellers to promote continued price growth year over year. Jason Mercer, TREB's Senior Manager of Market Analysis
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Kathy Clulow Sales Representative RE/MAX All-Stars Realty Inc.. Brokerage 905.852.6143
Each office independently owned and operated Not intended to solicit clients already under contract
Kathy, we are seeing the same here in Colorado. We are waiting for the next batch of REO's to hit which could cause prices to drop.
Prices are rising here in San Mateo County and the Silicon Valley areas of California, too. Numbers of sales are lower in most areas, however.
Kathy...heard, but didn't see reports, that Michigan has seen an "up" in October. won't that be good news for us. We need all that we can get--hopefully, come Jan. 1 2011 that atmosphere here will turn to Business & thus, Real Estate upticks. Jobs are so vital to this area [as well as other's hit hard] and the new legislature seems to be heading in that direction.
Your post is a great "Recovery Train" as well as 'Localism" post.
Best wishes for your Business.
Barb & Sal
Lottie - that seems to be the trend in many places right across Canada as well see CREA news on twitter
Barb and Sal - your Michigan News posts are a positive sign that employment will increase, ..... as it does confidence in the market will return ..... as more people are in a position to re-enter the real estate market