Real Estate Curve

Greater Toronto Area Real Estate Sales Statistics Summarized – August 2010

All These Statistics Are Compared To August 2009

We have 25% MORE Active Listings
Monthly Solds 26% LESS
Year To Date Sales 8% MORE
Year To Date Average Selling Price 11% MORE

In the Month of May 2010 the real estate in meadowvale, port credit, lorn park has seen a slow down in sales, good listings and decrease in multiple offer.
Great news, maybe this will balance out the market. Although still there isn’t enough listings as there were predicted as compared to last year this should out balance out through out the reminder of the year. What does the HST hold for us, it is just a few weeks away, will the vendors sitting on the fence list after HST takes effect stay tuned.

These Stats Are Compared to February 2009:

Active Listings –> 32% LESS

Monthly Sold –> 77% MORE

Year To Date Sold –> 81% MORE

Year To Date Average Selling Price –> 19% MORE

Sold Price To List Price –> 4% MORE

Average Days On Market –> 51% LESS

$200,001-$300,000
Sold to List Price: 98.37%
Average Days On Market: 42

$300,001-$400,000
Sold to List Price: 100.33%
Average Days On Market: 13

$400,001-$700,000
Sold to List Price: 99%
Average Days On Market: 15

$200,001-$300,000
Sold to List Price: 98.61%
Average Days On Market: 23

$300,001-$400,000
Sold to List Price: 99.17%
Average Days On Market: 22

$400,001-$700,000
Sold to List Price: 98%
Average Days On Market: 41

Although we are getting more and more listings in Mississauga and around the GTA, there isn’t enough. There are tons of buyers and still there isn’t enough listings. We have bidding wars and some people still over pay for a dream house because the supply is low and demand is high. Let us wait for March to come, in the past few years, March is the typical month where real estate starts to pick up. My predictions are, there will be alot of activity before July(HST will come on effect) and prices should stay stable.

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.

Happy New Year to all the readers, may this year bring the real estate market to a steady balance.

- realestatecurve

Happy Holidays to everyone, may your holidays be safe and joyful.

Since when did we go into bidding wars in Mississauga, once in a while before but now it seems each good listing has a bidding war. Buyers are becoming angry and feel the pressure to buy. First time buyers are shocked and feel extreme pressure from their agents as well.
Banks are appraising the properties and wonder where are the sale prices coming from. Well its easy, in a bidding war the final price comes from the person who is willing to pay the most for the house.
People now is Mississauga are even buying real estate without inspections, what’s next?
Houses selling in 1-4 days, others over listed are staying on the market or getting low ball offers.
The majority of the activity is coming from the 300-500K homes.

Stay tuned for the next update…

Through out the last few weeks, the market in all parts of Mississauga specifically in Meadowvale, Clarkson, Port Credit Real Estate has been moving like hot cakes. If the property is rennovated or not but priced right, it will sell quick. People are not being that picky as they use to be due to the lack of extreme LOW inventory.
Have you been looking for a house, did you find one, were there mulitple offers on it or even worst did it sell before you could take a look at it? These are all the symptoms which buyers are experiencing currently in Mississauga Real Estate and through out the GTA.

As of November 2, the inventory of Mississauga and the GTA is extremly low, ATTENTION SELLERS IT IS YOUR MARKET!!!

As we moved on from the summer the housing inventory in real estate in Mississauga and Toronto was at the lowest possible, tons of buyers but not a lot of sellers. What this mean is, that currently it is still a sellers market. The buyers are fighting for the homes which may not be worth that much, but since there is a limited inventory buyers are on fire to buy. What happened to the market it use to be a buyers market? It quickly changed to a sellers market, what will the next few months bring? I believe it will be the same as the last past 3 months, low invetory and a bit of a slow down beacuase of the holidays…

Here are the latest stats for the Mississauga and Toronto Real Estate Market

Compared to 2008 Sales are up by 22%

Compared to 2008 Inventory is down by 40%

What does this mean, is that people are buying virtually everything if it is priced right and if the condition of the property is decent.

For hot properties this mean…yes a “Bidding war”, nothing to be thrilled of if you are a buyer. On the other hand for sellers this is an ideal type of a market.
List it and sell it fast.

With all the bad inventory in the Gta’s market, buyers are getting mad on their agents. Is this right? I don’t think so, but apperntly if your agent can’t find you a home it is the agents fault. People have to think before they accuse other people, they have to ask themselves as a buyer,”am I too picky” ? Are the houses over priced or if there is no good inventory available. Before blaming your agent ask yourself all those questions. Real estate agents are there to help you purchase the biggest investment of your life, they want to be referred again and again (well some just want to make a quick buck) but most of them will work for your best interest. So before you start screaming at your agent, sit down with him or her and talk about the market and why it is what it is.

Well another 2 weeks have passed and the Gta’s inventory is horrible, what I mean to say is that there isn’t many home that are priced at market value that are kept up. On the other hand there is tons of homes that are out of shape and outdated and people still are asking alot of $$$$$ for them. People need to wake up and start renovating or dropping the price. I know alot of people are shopping around but with this inventory is it really hard to find a good solid home.