Summer 2009 Sales Roar
"The turnaround in Canadian housing this year might be the single most surprising turnabout we've seen in any economic indicator I can think of" said Douglas Porter, deputy chief economist at BMO Capital Market. " The extent of it is nothing short of amazing."
In Toronto this year, real estate sales activity for both June and July was simply astounding with the highest volume ever experienced for these two months! In July, there were 9,967 sales in the GTA, up from 7,806 last year. The average price in July was $395,414, an increase of 6% compared to 2008.
In the space of 18 months, the GTA went from being a sellers' market to a buyers' market and back again to a sellers' market.
- To date in 2009, there have continued to be fewer listings than last year:
- Buyer's however came back into the market in late spring and continue to be very active in their search for a home:
- This combination of low supply and high demand has created a very tight supply of homes in some of the most popular neighbourhoods, which in turn has led to bidding wars in some neighbourhoods.
If you plan to Sell &/or Buy a Home any time soon...
Call me at 416-322-8000
-or-
Email me at LLilley@BosleyRealEstate.com
I'm here to help.
I provide top quality service, excellent process and market knowledge plus strong communication and negotiating skills - with integrity, care and a dash of humour to boot!
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