A message from the president of the Toronto Real Estate Board.
March 6, 2009 — As we approach the spring season and see real estate activity picking up, Realtors remain optimistic about the future of the GTA resale housing market. With reports such as RBC’s Homeownership Survey highlighting that Canadians believe in the long-term value of a home, now is a great opportunity to invest in that Canadian dream.
Toronto Real Estate Board Members reported 4,120 sales in February 2009, compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month, compared to $382,048 during the same month last year. It is very important to note that a considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties.
On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632, respectively. The housing market is seasonal. Traditionally, sale volumes and average price climb in the first half of the year, reaching their highest levels in late spring before trending lower from July onward.
Now, while the economic downturn has had an impact, the GTA housing market is resting on a solid foundation. Current home prices and mortgage rates suggest that GTA homes have become more affordable on average. A greater number of homebuyers could take advantage of this affordability once their positioning in the economy becomes more certain.
Beyond spring’s real estate market, which typically experiences more activity, the demand for ownership housing will remain strong in the GTA over the long term because of steady population growth driven by immigration. The Toronto area is Canada’s single greatest beneficiary of immigration. According to Statistics Canada, this country welcomed 247,202 permanent residents in 2008 — 70,000 more than in 1998, and well within the government’s planned range of 240,000 to 265,000 new permanent residents for 2009.
Source: Toronto Real Estate Board
If you have Brampton real estate to sell consider using the services of Vic Singh.
Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year. “A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties,” said Toronto Real Estate Board President Maureen O’Neill.
On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively. The housing market is seasonal. Traditionally, in the first half of every year, sales and average price climb to their highest levels in late spring before trending lower from July onward. “While the economic downturn has had an impact, the GTA housing market is resting on a solid foundation.
Current home prices and mortgage rates suggest that GTA homes have become more affordable on average,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater number of home buyers could take advantage of this affordability once their positioning in the economy becomes more certain.”
Typically the spring real estate market tends to experience more activity and with the Canadian economy experiencing a period of low mortgage rates and strong immigration, this trend could continue. According to Statistics Canada, Canada welcomed 247,202 permanent residents in 2008, 70,000 more than in 1998,and well within the government’s planned range of 240,000 to 265,000 new permanent residents for 2009.
The TREB President pointed out that Greater Toronto REALTORS® are an integral part of the real estate transaction process. “TREB Members are uniquely positioned to help home buyers and sellers adapt to changing market conditions,” added Ms. O’Neill. “In addition, TREB continues to advocate public policies that do not threaten affordability but support home ownership in the GTA such as lower taxation and less regulation.”
If you have Brampton real estate to sell consider using the services of Vic Singh.
Here are the statistics for the Brampton real estate market for February 2009 and how they compared to February 2008.
Total number of houses sold = 350
Total number of houses sold in February 2008 = 555
Breakdown:
Detacheds sold = 206
Semi-detacheds sold = 77
Freehold townhouses = 29
Condo townhouses = 21
Condo apartments =16
Active listings:
Currently there are 1908 houses for sale in Brampton.
Detacheds = 1184
Semi-detacheds = 321
Freehold townhouses = 141
Condo townhouses = 150
Condo apartments = 121
For questions on the Brampton real estate market drop me an email.
Look Directory
Got a house to sell? With so many Brampton realtors around how do you decide who to choose? Do you pick a realtor who advertises a lot? Do you keep a discount company? When asked most homeowners said they quality of service they will get and the commission they will have to pay were the most important things to them. Product knowledge the realtor had and they amount of experience in the Brampton area were third and fourth.
Commission varies from agent to agent so be sure to interview a few to get a feel for how the industry works. I’ve been in a Brampton realtor now for about 8 years and have put together a system where I’m able to offer my clients full service and at the same time charge very reasonable commissions. I work at Remax which has about a 35% market share in Brampton. More signs on the lawns means we get more calls coming in from buyers. Your buyer might come from a sign that another realtor had on another property.
MLS is the most important marketing tool you need. Brampton realtors use this database to find properties for their buyers. Brampton realtors don’t look in newspapers, they don’t look at flyers they look on the MLS when they need to find a house for their qualified buyers. A property listed on the MLS can be sold by any agent at any company. All realtors have agree to co-operate with each other when they list a house on the MLS.
But just being on the MLS is not enough. You also need amazing pictures that’ll make your listing stand out. Let’s say 8 properties meet the criteria of the realtor’s buyer and the buyer only wants to see 5 properties that day how does the realtor narrow them down? He’ll quickly glance them and click to see the pictures to see which 4 houses show best. I have professional photographers come in and take pictures of your house. On top of that I also have them put together a virtual tour. With today’s market conditions the supply is higher then demand. There are so many listings on the MLS yours must stand out in some way. That’s why I always put up a virtual tour and 30+ pictures with each of my listings (and this does not cost my clients any extra money). See sample here.
You can also click here to see the services included in my low commission package. There are lots of Brampton realtors who would be happy to serve you. Do your homework and see what type of service they offer and how much they charge. I’d love to be one of the realtors interviewed.
If you have Brampton real estate to sell consider using the services of Vic Singh.
Virtual tours are done for each of my listings. This does not cost you any extra money. To have your property featured here with a virtual tour give me a call.
Featured Listings:
This Brampton house is located by Queen St and Mclaughlin Rd. It is absolutely spotless and has 3 very spacious bedrooms. The family room can be used as a 4th bedroom. We are asking $308,000. To view this property give me a call at 905-277-0771 or email me at textvic@gmail.com
Click on picture to view the virtual tour.
This Brampton house is located by Ashby Field and Bovaird. Close to the GO station. Comes with 3 bedrooms and 3 washrooms. The neighbourhood is great for young families. We are asking $316,900. To view this house give me a call at (905)277-0771 or email me at textvic@gmail.com .
Click on the picture to view the virtual tour.
This Brampton condo is located by Queen St and Hwy 410. It has 2 bedrooms plus a solarium. Amazing view of the city. A very luxurious building that has great facilites such as a tennis court, pool, and a gym. To view this condo give me a call at (905)277-0771 or email me at textvic@gmail.com . Click on the picture to view the virtual tour.
The Brampton house is located by Chinguacousy and Wanless. Home owners paid a premium for the lot. You can call me at (905)277-0771 to view this house. Click on the thumbnail to view the virtual tour.
Here are the Brampton real estate stats for January 2009 and how they compared to 2008.
Total number of homes sold in Brampton (Jan 2009) = 244
Breakdown:
Detacheds: 150
Semi-detached: 52
Condo townhouse: 11
Condo apartment: 8
Freehold townhouse: 20
Other: 3
Number of homes sold in January 2008 = 516
To see monthly Brampton real estate statistics from 2008 or the yearly breakdown click here.
If you have Brampton real estate to sell consider using the services of Vic Singh.
Very Unique Home With An Amazing Layout! Open Concept Kitchen Combined With Family Room – Great For Entertaining. Kitchen With Island, Under Counter Lighting,Ceramic Backsplash.Walk Out From Family Room To Large Deck Overlooking The Fenced Backyard. Formal Living & Dining Room Combo.Mstr Bdrm Offers A Personal Sanctuary. Professionally Finished Basement With Above Grade Windows,Rec. Room,2 Bedrooms & 4 Piece Bath.Premium Pie Shaped Lot. A Must See!!
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