Greator Toronto Real Estate Market Statistics
Last month(December 2009) there has been roughly -47% Active listings compared to 2008.
The amount of real estate sales in (December 2009) was at a high of +115%, highest in the last 4 years.
What does this mean, is that there aren’t that many active listings and people are still buying real estate in Toronto, Mississauga and the greater Toronto area more then ever.
What will happen in the future for Ontario real estate when the HST will start in July?
I personally think that sellers will want to sell their properties before hand to avoid additional costs. What I mean is that on a average home worth $400,000 a seller will have to pay $1600 more in taxes on commission when the HST will be in effect. Therefore a lot of people will want to save that money and sell/close before hand to avoid the additional cost.