Real Estate Update May 2010 |
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Real Estate Update May 2010
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Real Estate Update
May 2010
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Greetings, I Hope You Are Well!
The Real Estate Market is breaking new records!
Check out the report below and then click on the following links to Search 1000's of Homes, get Your Area Report (a great way to determine value) and more!
Results Worth Celebrating!
Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April 2010, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April - a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.
"The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth," said Toronto Real Estate Board President Tom Lebour.
"More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010."
The average price for April transactions was $437,600 - up 13 per cent compared to the average of $385,641 recorded in April 2009.
"Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales will remain strong in the
second half of 2010, but will slip from the current record pace as borrowing costs rise."
From The Toronto Real Estate Board (TREB) Market Watch May 5th, 2010. TREB includes: York, Durham, Peel and part of Simcoe Regions.
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The Jay Miller Team
Helping you make informed decisions!
Jay Miller, Broker
Re/Max Omega Realty (1988) Ltd., Brokerage
Email: jay@jaymiller.ca
Direct: 905-717-3525, 416-278-4113
905-898-1211
The Jay Miller Team
Diane Priest*, Gerry Bainbridge*, Cindy Barrett*, Matthew Miller*, Amelia Casco Valverde*, Shannon Hogan**, Carolyn Noel**
*Sales Rep., **Administrator
Give Us A Call - We Are Here To Help!
Not Intended To Solicit Current Agency Relationships
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