January 2012

The stats from the Toronto Real Estate Board have just been reviewed. TREB reported that in December, there were 4,718 sales for the month in the Greater Toronto Area which is approx 10% more sales than reported during December 2010. The yearly numbers were very strong in 2010 and “UP” over 2010.

At the end of the year there were only 12,868 homes for sale on the Toronto Real Estate Board. This number, although still very low, is slightly higher than what was reported at the end of 2010. January & February are typically big months for new listings coming on the market so the inventory level should climb soon. The sooner sellers list this year the better off they will be. There is still a back-log of buyers out there looking for a home right now with very few choices.

That same old question comes up: “What will happen to the market in 2012?” My Answer: “Same Old”! Sales numbers will stay around the same. Prices will increase very slightly. There will be slightly more homes for sale. Much of the same thing for at least 12 months and a very healthy, robust real estate market. I do feel however that we will see some downward pressure in the higher price ranges and country properties.

Whether selling OR buying, the key to taking advantage of current market conditions is working with the right realtor. When you hear of anyone who may want to buy or sell, please contact at 416-721-3316. I promise you that I will take care of them, do a great job and provide them with the best customer service. If you would like any more information, I’m here to help.

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