Will The 2012 Real Estate Market Be To Hot To Handle?
One Sale Does Not Make A Market
One sale does not make a market but one sale could be the spark that will ignite a very hot spring market in certain areas of the (GTA) Greater Toronto Area real estate market. Recently a home in Mimico sold for a reported $200,000 over asking price as 31 people bid on the home.
Several factors including a prime location and a lower than usual number of properties for sale likely played a part in this sale.
More Listings Could Be The Wet Blanket
This does not mean that all areas of the GTA will experience sales like this but it may just be the spark to ignite the fire under some potential sellers to put their home on the market now instead of waiting till later in the year. On the other hand a sudden rush to get their home on the market by potential sellers, wishing to take advantage of this, may just be enough of a wet blanket to keep things under control resulting in a more stable market.
Locally, In Uxbridge, Ontario
There are currently 106 properties listed for sale on the National MLS® web site in Uxbridge which is up from 104 earlier in the month. Our Local Uxbridge Real Estate Market Update for all of 2011 shows the listing trend for the last three years to the end of 2011.
The Chart Below Shows How Many New Listings There Were In Each Month
More Historical Market Statistics Can Be Viewed Here
Will The 2012 Real Estate Market Be To Hot To Handle?
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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
Wow, Kathy - that is one staggering number. Was this a knock 'em dead home? Great location? Under priced to begin with? That's just wild. Let's hope it's an omen for housing values rebounding in the Uxbridge Ontario real estate market.
Hi Kathy, What a interesting blog. The market is getting better in the Denver area but what a deal in your area.
Wow! Looks like great numbers. The same seems to be happening here in Destin, Fl. Starting to see multiple offers and the inventory is diminishing. 2012 is looking up.
Juli - I suspect location location location and priced to generate multiple offers
Will - certainly not the norm ..... glad to hear denver is picking up
Bill - Florida is due for some good news for a change