July Market Much Hotter than the Weather

August 10th, 2009

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I had felt the heat a few weeks ago…and the most recent Real Estate stats confirm it: THE JULY MARKET WAS RED HOT!!

The latest number from the Toronto Real Estate Board show that average price for July transactions was $395,414 – up six per cent from the same month last year. Another repeating trend is; less inventory. In ’08 we had 14,830 listings in ’09 only 12,174, that’s a decline of 18%. This helps to explain all the multiple offers I’ve been involved in!

To keep it simple, the 3 stats you need to know are:
July prices up 6%
Sales are up 28%
New listings are down 18%

I’ve said it last month and I’ll say it again this month: It’s a great time to list your home and if your looking for a tech savvy realtor to market your property…I’d love to help!!