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.
