Tuesday, December 1, 2015
Winter Newsletter Coming Soon!
Bart and I (also assisted by Canada Post) will be delivering your newsletters soon! If you'd like to be added to my mailing list, please email me at kevinconroy@cogeco.ca.
Friday, November 6, 2015
October 2015
October had 241 sales with an average time on the market of 25 days. 61 of those sold above $1,000,000. In October 2014 there were 236 sales.
The average price for a detached 2-storey home sale was $1,093,000 about 5% lower than September's average sale price $856,000 while the mean was $750,000. A year ago those numbers were $843,000 and $705,000, respectively.
Financing remains very attractive and inventory is light. And the bidding wars continue!
The average price for a detached 2-storey home sale was $1,093,000 about 5% lower than September's average sale price $856,000 while the mean was $750,000. A year ago those numbers were $843,000 and $705,000, respectively.
Financing remains very attractive and inventory is light. And the bidding wars continue!
September 2015
The average sale price for a detached 2-storey home was $1,148,000 this September. In June that average was $1,144,000. Many sales had multiple Offers and 265 properties changed sold. The majority of properties sold in less than a month.
62 properties, which included 7 condo apartments and 20 bungalows & lofts, sold above $1,000,000.
The September rental market was active with 242 properties renting ranging in price from $1050/mth for a 1BR apt on Kerr street to $8500/mth for a detached home in Southeast Oakville.
Financing remains very attractive with 5 year mortgage money bing offered as low as 2.44% & variable at 2.05%.
62 properties, which included 7 condo apartments and 20 bungalows & lofts, sold above $1,000,000.
The September rental market was active with 242 properties renting ranging in price from $1050/mth for a 1BR apt on Kerr street to $8500/mth for a detached home in Southeast Oakville.
Financing remains very attractive with 5 year mortgage money bing offered as low as 2.44% & variable at 2.05%.
Wednesday, July 1, 2015
June 2015
June's sales volumes was slightly stronger than a year ago. This June we saw 338 sales compared to 317 in 2014 so pretty much the same however there were 40% more homes/condo's that sold at or above $1,000,000. So that's significant! 83 versus 59.
That also helped the detached 2-storey sales market to have an average sale price of $1,144,000. A year ago it was $1,032,000.
When you compare sales volumes for the first 6 months the trend is still almost the same. In 2015 there were 1685 sales and in 2014 1666 sales. And home sales volumes for homes & condo's selling at or above a million dollars rose 25% for the first half of the year. 390 versus 313.
The rental market is a little bit lower with 76 sales this June compared to 87 a year ago.
Financing remains very attractive with 5 year mortgage money offered as low as 2.54% and 3 & 5 year variable mortgage money offered at 2.20% & 2.15%, respectively. Hard to beat!
That also helped the detached 2-storey sales market to have an average sale price of $1,144,000. A year ago it was $1,032,000.
When you compare sales volumes for the first 6 months the trend is still almost the same. In 2015 there were 1685 sales and in 2014 1666 sales. And home sales volumes for homes & condo's selling at or above a million dollars rose 25% for the first half of the year. 390 versus 313.
The rental market is a little bit lower with 76 sales this June compared to 87 a year ago.
Financing remains very attractive with 5 year mortgage money offered as low as 2.54% and 3 & 5 year variable mortgage money offered at 2.20% & 2.15%, respectively. Hard to beat!
Wednesday, April 1, 2015
Jan - Mar 2015
It's still a Seller's market. Sales volumes were a little higher the first quarter of 2015 compared to 2014 however they were slightly lower for detached 2-storey homes. And that has worked out just fine for Seller's as we saw a number of homes get multiple Offer's.
On paper, detached 2-storey home prices were up 4.5% to $1,078,000. The percentage could have been greater if the Ultra luxury market performed as well as it did during the first quarter of 2014. There were 45% more properties sell above the 2 million dollar mark for the first quarter period in 2014 which skewed the average price higher last year.
The condo apartment market sales volumes was about the same with most of the 68 sales selling for less than $500,000. Only 2 apartments sold above a million dollars during the quarter.
There was a significant spike in the rental market. Up 35% and likely attributed to the low resale sales inventory. Prospective buyer's continue to rent while waiting for more selection to hit the market.
Financing is still extremely attractive with 5 year money available at some banks below 2.40%.
On paper, detached 2-storey home prices were up 4.5% to $1,078,000. The percentage could have been greater if the Ultra luxury market performed as well as it did during the first quarter of 2014. There were 45% more properties sell above the 2 million dollar mark for the first quarter period in 2014 which skewed the average price higher last year.
The condo apartment market sales volumes was about the same with most of the 68 sales selling for less than $500,000. Only 2 apartments sold above a million dollars during the quarter.
There was a significant spike in the rental market. Up 35% and likely attributed to the low resale sales inventory. Prospective buyer's continue to rent while waiting for more selection to hit the market.
Financing is still extremely attractive with 5 year money available at some banks below 2.40%.
Wednesday, January 7, 2015
December 2014
Still a shortage of listings, case in point, sales volumes for December were off by 22%. On the year they were off 5%. So December was considerably light.
19 of the 101 December '14 sales sold above one million dollars. That was almost double for the same period in 2013 and resulted in the average price of a detached 2-storey to climb to over $1.1 million. During the year that averaged hovered above & below that threshold with most months reporting above the million dollar mark for detached 2-storey homes.
The rental market fared better in December '14 compared to December '13 with the number of sales increasing by 25%, but they were off on an annualized basis by 7.5%.
Seems that a number of families are deciding to stay put longer in their current homes & apartments rather than sell & buy something else. And many are finding that renovating is the more practical choice to make.
It also took a week longer to sell homes & condominiums during the month with the average sale taking about 40 days to complete the sale.
The lack of new inventory will help sale prices to maintain their lofty levels. However, the financial markets have taken a recent plunge with the drastic drop in oil prices and it will be interesting to see what that might do to the housing market as the year unfolds. Financing does remain very attractive!
19 of the 101 December '14 sales sold above one million dollars. That was almost double for the same period in 2013 and resulted in the average price of a detached 2-storey to climb to over $1.1 million. During the year that averaged hovered above & below that threshold with most months reporting above the million dollar mark for detached 2-storey homes.
The rental market fared better in December '14 compared to December '13 with the number of sales increasing by 25%, but they were off on an annualized basis by 7.5%.
Seems that a number of families are deciding to stay put longer in their current homes & apartments rather than sell & buy something else. And many are finding that renovating is the more practical choice to make.
It also took a week longer to sell homes & condominiums during the month with the average sale taking about 40 days to complete the sale.
The lack of new inventory will help sale prices to maintain their lofty levels. However, the financial markets have taken a recent plunge with the drastic drop in oil prices and it will be interesting to see what that might do to the housing market as the year unfolds. Financing does remain very attractive!
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