|
"Real
Estate Bits"
December
2010
Market Update
TREB Reports Strong Sales During November 2010
December 3, 2010 - Greater Toronto REALTORS reported 6,510 existing home sales in November – down 13% from 7446 sales in November 2009. New listings were also down 13% annually to 8642.
On a month-over-month basis, the seasonally adjusted annual rate of sales increased for the fourth straight month to 88,100. This rate was substantially higher than the July 2010 low of 67,900.
"The GTA resale market has tightened since the summer. Healthy market conditions continued to support growth in the average selling price," said Toronto Real Estate Board President Bill Johnston.
"Sales through the first 11 months of the year were down only marginally compared to the same period in 2009. We remain on track for one of the best years on record under the current TREB market area,” continued Johnston.
The average selling price for November 2010 transactions was $438,030 – this figure is up five% compared to November of 2009.
"The average selling price in the GTA is affordable. A household earning the average income can comfortably cover the mortgage payments on an average priced home. Expect the average selling price to grow at a moderate pace over the next year," said Jason Mercer, TREB's Senior Manager of Market Analysis.
Average Days On Market in November was 33
What They Sold For:
This Graph Shows Monthly GTA
Sales
By Volume and Price Category
October 2010
November
2010
Year-Over-Year Sales and Price Comparison
| Year-2007 |
# of Sales |
Average Price |
| |
|
|
| Total |
93,193 |
$376,236 |
| |
|
|
| Year-2008 |
# of Sales |
Average Price |
| |
|
|
| Total |
74,552 |
$379,347 |
| |
|
|
| Year-2009 |
# of Sales |
Average Price |
| |
|
|
| January |
2670 |
$343,632 |
| February |
4120 |
$361,305 |
| March |
6171 |
$362,050 |
| April |
8107 |
$385,641 |
| May |
9589 |
$395,609 |
| June |
10,955 |
$403,972 |
| July |
9967 |
$395,414 |
| August |
8035 |
$387,921 |
| September |
8196 |
$406,877 |
| October |
8476 |
$423,559 |
| November |
7446 |
$418,460 |
| |
|
|
| Total |
87,308 |
$395,460 |
| |
|
|
| Year-2010 |
# of Sales |
Average Price |
| |
|
|
| January |
4986 |
$409,058 |
| February |
7291 |
$431,509 |
| March |
10,340 |
$434,696 |
| April |
10,898 |
$437,600 |
| May |
9470 |
$446,593 |
| June |
8442 |
$435,034 |
| July |
6564 |
$420,482 |
| August |
6232 |
$411,012 |
| September |
6310 |
$427,329 |
| October |
6681 |
$443,729 |
| November |
6510 |
$438,030 |
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Mortgages
Rates As Of December 13,
2010
Nino will
guarantee these rates for 120 days for any "confirmed" client of
Rosemary Wright if you bring this newsletter with you!
These "Preferred Rates" are available for new
mortgages for any of my clients who bank with Nino Pasquariello,
Senior Bank Manager of Scotiabank & Trust. Nino's office is located
at 2200 Yonge Street (at Eglinton) in Toronto.
(Bus):
416-932-3885 #7000 (Fax): 416-932-3167
E-Mail:
nino.pasquariello@scotiabank.com
Scotiabank Web-Site:
www.scotiabank.com
Find The Best Way To Use "Your" Money
|
6 Month Open |
6.45%
|
|
6 Month Closed |
4.55%
|
|
1 Year Open |
6.50% |
|
1 Year Closed |
2.44% - Bank's
Discretion |
|
2 Year Closed |
3.15% |
|
3 Year Closed |
3.45% |
|
4 Year Closed |
3.74% |
|
5 Year Closed |
3.70% - Bank's
Discretion |
|
5 Year Scotia Flex-Closed |
(Prime Rate less
0.70) (2.30%) |
|
5 Year Scotia Flex-Open |
(Prime Rate plus
0.80) (3.80%) |
|
7 Year Closed |
5.35%
|
|
10 Year Closed |
5.95%
|
We
are unable to guarantee the rate on the Prime Based Variable
Rate products. Rates will be based on Prime at the time of
the mortgage closing. On a Pre-Approved Mortgage the rate is
protected for 120 days from the date of application. Please
be aware that rates can change at any time. Please call
Scotiabank for more details on their 5 Year “Flex Value”
products..
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Home Inspection Companies
Just for Fun...
Really, Really Bad Jokes
I am not available right now, but
Thank you for caring enough to call.
I am making some changes in my life.
Please leave a message after the
Beep.
If I do not return your call,
You are one of the changes.
My wife and I had words - but I didn't get to use mine.
What is a mixed feeling?
Watching your mother-in-law back off a cliff in your new BMW.
Timmy asks his Dad, "What is the difference between confident and confidential?"
Dad replies, "You are my son, I'm confident about that.
Your friend George is also my son - that's confidential."
In November - the median price was $366,000 - up from the $353,800 recorded during November of 2009.
Business Referrals
Client & Networking referrals are the foundation of a
successful real estate sales representative's career.
Over many years in this industry I have enjoyed the
confidence and repeat business of my clients. I appreciate
your on-going support and want you to know that I will
always look after friends and colleagues you refer to
me with professionalism, care and respect.
www.sagerealestate.ca
Rosemary Wright
Sales Representative
Sage Real Estate Ltd., Brokerage
(Bus): (416) 483-8000
(Fax): (416) 463-0159
WebSite:
www.rosemarywright.com
E-Mail:
mail@rosemarywright.com
"Professional
Service With A Personal Touch"
T his
newsletter is never sent unsolicited. If you wish to
be removed, please reply to this E-Mail with the words "Remove
from Newsletter" in the subject line or call me at
(416) 483-8000 to request removal.
The intent of the newsletters - "Real Estate Bits" &
"Real Estate Bits - 2" is to provide information to you
regarding real estate. Personal details such as your
name, contact information and address are never revealed
to anyone without your consent. In accordance with the
new
Privacy Act,
your consent must be given (either implicitly or
explicitly) to receive these newsletters. If you do not
want to receive my newsletters - please notify me. My
newsletters are not intended to solicit Buyers or
Sellers who are currently under contract with any
Broker.
The information and opinions contained, statistics and
articles are courtesy of TREB, CMHC or other individuals
or companies and are believed to be reliable, but their
accuracy is not guaranteed. Sage Real Estate Ltd., Brokerage and Rosemary Wright accept no
responsibility whatsoever for any loss arising from any
use or reliance on the accuracy and timeliness of the
information contained herein. Every endeavour is made to
ensure accuracy. These newsletters do not render
financial, legal, accounting, home inspection or
professional advice. They are for general educational
purposes only. They do not offer do-it-yourself advice.
We encourage you to always contact the appropriate
professionals or specialists to address your individual
needs.
E&OE |
