Real Estate Update
Timing The Market
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I hope this report finds you well!
It's true that you can't time the very top or bottom of the Real Estate Market - but with a little help you can come close!
Historical data and a keen sense of where the market is going is vital to the success of your home sale or purchase. On the Jay Miller Team, we track the market very carefully to help our clients maximize their profits when selling and get the best deal when buying.
Check out the detailed market report for January 2011 below and then click on the following links to view our featured listings (and find out about open houses), Search 1000's of Homes, get Your Area Report (a great way to determine the value of your home) and more!
Real Estate Market Statistics
Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010.
"While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points," said TREB President Bill Johnston.
The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.
"The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective," said Jason Mercer, TREB's Senior Manager of Market Analysis.
From The Toronto Real Estate Board (TREB) Market Watch February 4th, 2011. TREB includes: York, Durham, Peel and part of Simcoe Regions.