Number of houses sold in March 2009 = 509
Number of houses sold in March 2008 = 627
Breakdown:
Detacheds = 280
Semi-detacheds = 106
Freehold townhouses = 45
Condo townhouses = 41
Condo apartments = 35
In December and January the Brampton real estate market was down about 52% but in March things seem to have picked a little bit. By no means should this be considered a full recovery but it is a sign of hope.
Consider hiring one of the hardest working Brampton realtors or view the unique process I use to sell Brampton Homes.
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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.
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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.
Mid-Month January GTA Housing Resales at 888
TORONTO, January 19, 2009
Greater Toronto REALTORS® reported 888 sales during the first half of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada the economic situation throughout Canada changed noticeably over the past year with job losses in the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has been impacted,” according to TREB President Maureen O’Neill.
The average GTA price mid-way through January is $332,495 from $367,574 during the same period in 2008. The median GTA price was $301,000 compared to 316,000 last year. “While sales have declined, listings have remained high. GTA home buyers have benefitted from more choice,” explained Ms. O’Neill. “Historically, increased choice in the marketplace has equated to a moderation in price growth.”
In January 2009, stronger declines in sales and prices were experienced in the City of Toronto. “Sales for January a year ago may have been elevated by the flurry of transactions completed before the city’s land transfer tax went into effect,” added Ms. O’Neill. “The costs of home ownership in the 416 has increased due to the added land transfer tax many home buyers now face in the City of Toronto. Some households considering the purchase of a home in the City have either put their decision on hold or looked elsewhere in the GTA.”
Source: Toronto Real Estate Board
Well 2008 started of with a bang but as we all know the Brampton real estate market has been getting hit very heavily in the past few months. Here are the stats for the Brampton real estate market for December 2008 and monthly breakdown.
Number of houses sold in Brampton in December 2008 = 182
Number of houses sold in Brampton in December 2007 = 359
Hell Ride download Breakdown of Brampton sales:
Detacheds = 102
Semi detacheds = 36
Freehold townhouses = 17
Condo apartments = 12
Condo townhouses = 11
Other =
Monthly stats on the Brampton real estate market:
Month / 2008 sales / 2007 sales
January: 516 / 543
February: 555 / 658
March: 627 / 739
April: 845 / 887
May: 876 / 981
June: 757 / 870
July: 716 / 841
August: 599 / 744
September: 590 / 630
October: 453 / 601
November: 323 / 573
December: 182 / 359
For questions on the Brampton real estate market drop me an email. If you are thinking of selling your house please see my article “1% for MLS”.
TORONTO, December 17, 2008 — Greater Toronto REALTORS® reported 1,487 resale transactions during the first half of December, from 2,868 sales recorded in the same period a year ago, Toronto Real Estate Board President Maureen O’Neill announced today.
The average price of a home in the Greater Toronto Area is currently $360,652. This compares to an average of $404,707 recorded during the first half of December 2007 and to an average of $343,048 recorded during the same period in 2006.
Keeping today’s market statistics in perspective, MLS statistics confirm that over the last 10 years the price of homes has increased in value. What this means for the consumer is that real estate continues to hold its value and is a solid choice for long-term investments, said Ms. O’Neill.
In the 416 area, 619 transactions were recorded during the first half of this month, from 1,402 sales that took place during the same timeframe a year ago.
The average price in the 416 area is currently $382,759, from an average of $450,731 a year ago, and $367,650 recorded in the first half of December 2006.
In the 905 region 868 homes changed hands in the first two weeks of this month, from 1,466 transactions that took place in the first half of December 2007.
The 905 region’s current average price is $344,887 from an average of $360,691 recorded during the same timeframe a year ago and $325,477 recorded at mid-December 2006.
The recent C.D. Howe land transfer tax study confirms REALTORS concerns that the second LTT imposed on homebuyers in the City of Toronto has indeed contributed to the economic conditions in the GTA, added Ms. O’Neill.
There are currently 24,708 listings on the TorontoMLS system, from 17,027 a year ago. The average number of days a home now remains on the market is 43, as compared to 33 days a year ago. Sellers are achieving 96 per cent of their listing price, as compared to 98 per cent a year ago.
Location, price and your own personal financial and family situation all play an important role when considering a purchase, said Ms. O’Neill. REALTORS can provide you with information about neighbourhoods, school districts and realistic pricing because of their vast knowledge of the local community.
This mid month release does not provide a year in review analysis. A summary of activity for all of 2008 including the month of December will be provided in the January 2009 Market Watch Report.
Source: Toronto Real Estate Board
For statistics on the Brampton or Georgetown real estate markets drop me an email.
The Bank of Canada slashed a key interest rate by three-quarters of a percentage point Tuesday as the central bank moved to combat major economic weakness. With the interest rate reduction is the biggest drop since one of a similar size in October 2001 the bank’s overnight rate now stands at 1.5 per cent, a level not seen since 1958.
“While Canada’s economy evolved largely as expected during the summer and early autumn, it is now entering a recession as a result of the weakness in global economic activity,” the bank said.
“The recent declines in terms of trade, real income growth and confidence are prompting more cautious behaviour by households and businesses.”
Most economists had been expecting a cut of half of a percentage point, although some had been calling for the more aggressive reduction the central bank made. In the wake of the Bank of Canada’s decision, the Canadian dollar was trading down 0.83of a cent to 78.91 cents US. Now would be a perfect time for people who had been waiting to buy in Brampton but were unable to qualify.
After the central bank’s move, TD Bank became the first of the country’s big banks to reduce its prime lending rate what it charges its top customers although it didn’t go for the full reduction of 0.75 of a percentage point. TD dropped its prime rate by a half-point to 3.5 per cent. The other top banks followed suit. Economists said the central bank may not be done with interest rate cuts, given the weak condition of the economy.
“Canada is only just entering a recession that will likely get worse before it gets better,” said TD Bank economist James Marple.
“Given the further deterioration in the outlook for inflation, an additional 50-basis-point cut when the Bank of Canada meets again on Jan. 20 is a reasonable expectation.”
Dawn Desjardins, assistant chief economist at Royal Bank, believes the Bank of Canada’s key rate will remain at 1.5 per cent, although she said future cuts could be necessary if the economic downturn is protracted.
