GTA’s July housing market showed encouraging signs of growth with a little increase in the home sales price.
The TREB ( Toronto Real Estate Board) reported an increase in sales of 24.3% compared to this time last year, and month-to-month sales saw improvements with an increase of 5.1%.
Although growth in sales outpaced growth in listings, more new listing is slowly entering the market.
It is certainly encouraging to see the Ontario Government working on a solution to bring more supply on-line and speed up, the development of different forms of housing in conjunction with their “More Homes, More Choice Plan” with is the Bill 108
The Government of Ontario believes that increasing the supply of housing will help every person in Ontario by making housing more affordable.
There is a good article on The Star
With 8,595 sales in July, high-density housing continues to be a popular choice among home buyers.
Average price: Semis 4.3 %, condos 6.7% (Toronto) and of course Detached 29.7 increase in de number of sales on (905) area over 3,000 houses sold while in Toronto 866 houses sold.
Although the market for homes has been impacted the most due to the strict OSFI (Office of the Superintendent of Financial Institutions) Federal agency that regulates and supervises more than 400 regulated financial institutions, including all banks in Canada. Impacted by the stress test, home sales rebounded through the summer.
This confirms that homeownership continues to be a priority for a majority of the GTA residents. In fact, we are seeing a growing demand for ownership housing, in the GTA households, continue to increase 40,000 to 50,000 new homes every year.
In the Durham Region, we had 1,041 sales in July, we have about 2 months of inventory in the market and ratio of sales of 55 %, That means every 2 houses 1 sales
In Whitby, there were 398 sales in the month of July with an average of 21 days on market This year we had so far 1,193 sales with 2,303 listings
Our listing was sold IN an average of 13 days, faster than the market average 21 days. This is due to pricing right and the use of top-notch marketing technics
So if you are looking to sell your home faster and for the right value give us a call.