March proved to be another successful month with 351 sales and the average days on market was just under 12.
Comparing to March 2008 there were 17 sales over $1,000,000. The same as in 2008. March '08 had 286 sales taking 27 days to sell on average.
This March 141 homes sold between $500,000 and one million compared to 123 in March '08.
There were 150 2 storey sales and 53 bungalows sales with average sale prices of $698,000 and $550,000, respectively. March 2008 saw 123 2 storey sales averaging $ 639,000 and 28 bungalow sales with an aveage price of $552,000.
There were 76 rentals this March compared to 43 in 2008.
Mortgage money is up slightly for longer term loans. 5 year money costs 4.18% however, variable rate loans are still very attractive at 1.75%.
April has seemed to be somewhat slower so far but we will soon see how the numbers fair.
Sunday, April 11, 2010
Monday, March 1, 2010
No sign of let up!
This February had almost 100 more sales than in January with 281 sales and during a shorter month. The average sale price was $580,000 (all types of housing) with 2 storey homes averaging $757,000. 21 homes sold above a million dollars and 120 properties sold between $500,000 and a million. The average time on market was very quick at 21 days.
Best not to compare to last February's results but even if you go back to 2008 you will find sales volumes were up 18%.
Financing remains very favourable. The banks of course have tighten up their lending policies.
Best not to compare to last February's results but even if you go back to 2008 you will find sales volumes were up 18%.
Financing remains very favourable. The banks of course have tighten up their lending policies.
Friday, February 5, 2010
Sales still strong
January 2010 had 189 sales at an average sales price of $577,000 for all types of housing. The average time on th market was 33 days. This is in line with January 2008 when we had 196 sales. Last January during the recession we only had 86 sales.
Most of these sales were for properties valued below $700,000 (150) although we had one sale go through at $4,200,000. There were 18 sales above one million dollars.
Detached 2 storey homes are staying above the $700,000 mark with January's 2010 average at $731,000.
There were 52 rental sales during the month, similar to December 2009 volumes.
Interest rates have trended slightly lower with 5 year money available as low as 3.69% and variable rate lending at 2%. Hard to beat. We should see continued record sales volumes in the months ahead.
Most of these sales were for properties valued below $700,000 (150) although we had one sale go through at $4,200,000. There were 18 sales above one million dollars.
Detached 2 storey homes are staying above the $700,000 mark with January's 2010 average at $731,000.
There were 52 rental sales during the month, similar to December 2009 volumes.
Interest rates have trended slightly lower with 5 year money available as low as 3.69% and variable rate lending at 2%. Hard to beat. We should see continued record sales volumes in the months ahead.
Sunday, January 3, 2010
Record December sales volumes
Sales volumes finish off the year strong. December 2009 had 162 sales compared to 79 and 137 for December 2008 and 2007, respectively. That's double 2008 levels and almost 20% more than the previous record in 2007. Properties took 32 days to sell on average compared to 57 & 41 days for December 2008 and 2007.
There were 51 rental sales during the month. 12 were for condo apartments of which the 2 highest were $5,000 & $2,700 a month.
Interest rates trended slightly lower from recent months with 5 year money at 3.79%, variable at 2.10% and 10 year mortgage money at 5.30%.
The average price for a 2-storey homes was $702,000 down from November 2009's $791,000, October's $767,000 and September's 736,000. But still the same as December 2007's $703,000 and above December 2008's $639,000.
There were 20 bungalow sales in December '09 compared to 9 in 2008 and 14 in 2007. All in all an excellent month.
There were 51 rental sales during the month. 12 were for condo apartments of which the 2 highest were $5,000 & $2,700 a month.
Interest rates trended slightly lower from recent months with 5 year money at 3.79%, variable at 2.10% and 10 year mortgage money at 5.30%.
The average price for a 2-storey homes was $702,000 down from November 2009's $791,000, October's $767,000 and September's 736,000. But still the same as December 2007's $703,000 and above December 2008's $639,000.
There were 20 bungalow sales in December '09 compared to 9 in 2008 and 14 in 2007. All in all an excellent month.
Tuesday, December 1, 2009
Record Sales Continue
November finished off with 254 sales with an average sales price of $503,000 (all types of housing). That was double the sales volume of November '08 and more than the 245 sales in November '07. The average time it took to sell was 29 days.
2-storey detached home sales average price was up 3% to $791,000 over last months numbers.
There were 27 condo apartment sales at an average price of $640,000. The highest condo apartment sale was almost $2.2 million. Condo apartments took a little longer to sell than detached homes with an average of 44 days on the market.
There were 8 condo apartment rentals during the month all leasing in the $1,200 to $1,500 range.
Mortgage money remains attractive with 5 year money hovering 4% & variable rate money can be had slightly below prime at 2.15%. Higher rates will be heading our way during the latter half of 2010 and continue with moderate increases in 2011. Sellers will also be face with added costs when the HST takes effect on July 1, 2010.
2-storey detached home sales average price was up 3% to $791,000 over last months numbers.
There were 27 condo apartment sales at an average price of $640,000. The highest condo apartment sale was almost $2.2 million. Condo apartments took a little longer to sell than detached homes with an average of 44 days on the market.
There were 8 condo apartment rentals during the month all leasing in the $1,200 to $1,500 range.
Mortgage money remains attractive with 5 year money hovering 4% & variable rate money can be had slightly below prime at 2.15%. Higher rates will be heading our way during the latter half of 2010 and continue with moderate increases in 2011. Sellers will also be face with added costs when the HST takes effect on July 1, 2010.
Wednesday, November 4, 2009
October sales activity remains strong
Sales kept pace with September with 297 sales compared to 304. The average sales price for a detached 2 storey home was up 4% to 767,000. Twice as many homes sold above a million since last month, with 17 sales. October 2008 had 5 sales over a million. And twice as many homes sold between $500,000 and a million over October 2008 with 118 sales during the month.
44 bungalows sold in October compared to 21 sales in October 2008. Of these, 3 were bungalow lofts and 5 were raised bungalows. The average sale price was $487,000. One of the sales went just over the 2 million dollar mark and if you back that sale out, the average would be $450,000.
The rental market was also up with 71 sales versus September's 63 sales. October 2008 had 58 rental sales.
Longer term mortgage money has gone up slightly. 5 year money is now available at 4.25%. Variable rate money is 2.25%. These are still very attractive rates.
Owners planning to sell next year may want to do so early in the year to avoid paying the increase tax on real estate sales commissions (HST) that is purposed to take effect on July 1, 2010. The harmonized sales tax will be 13% up from the current 5% GST. You can avoid the extra 8% by closing on or before June 30, 2010.
Sales kept pace with September with 297 sales compared to 304. The average sales price for a detached 2 storey home was up 4% to 767,000. Twice as many homes sold above a million since last month, with 17 sales. October 2008 had 5 sales over a million. And twice as many homes sold between $500,000 and a million over October 2008 with 118 sales during the month.
44 bungalows sold in October compared to 21 sales in October 2008. Of these, 3 were bungalow lofts and 5 were raised bungalows. The average sale price was $487,000. One of the sales went just over the 2 million dollar mark and if you back that sale out, the average would be $450,000.
The rental market was also up with 71 sales versus September's 63 sales. October 2008 had 58 rental sales.
Longer term mortgage money has gone up slightly. 5 year money is now available at 4.25%. Variable rate money is 2.25%. These are still very attractive rates.
Owners planning to sell next year may want to do so early in the year to avoid paying the increase tax on real estate sales commissions (HST) that is purposed to take effect on July 1, 2010. The harmonized sales tax will be 13% up from the current 5% GST. You can avoid the extra 8% by closing on or before June 30, 2010.
Friday, October 2, 2009
The torrid pace continues
The average sales price for a two storey home during September was $736,000. Condo apartments took 40 days on average to sell or, a week less than September 2008. Sales volumes for all types of housing was up 35% with 304 sales compared to 225 a year ago. 126 of the 304 sold in 2 weeks or less.
Home sales above a million dollars took 3 weeks longer to sell than during September 2008. The average length of time on the market was 89 days however, there were almost twice as many sales, 17 versus 9.
Condo apartment sales volume for September remained about the same with 28 sales compared to 30 a year ago, but sold a week faster averaging only 40 days on the market.
Rental properties took a week longer to sell on average and the number of sales remained the same with 62 compared to 63 last year.
Similarily, borrowing costs are still extremely attractive. Prime remains at 2.25%. 5 year money can be had for as low as 3.84% and the best variable rate money is 2.35%.
We still have alot of people waiting for the right homes to come along so we may see this activity continue as long as new listings keep coming to market.
Home sales above a million dollars took 3 weeks longer to sell than during September 2008. The average length of time on the market was 89 days however, there were almost twice as many sales, 17 versus 9.
Condo apartment sales volume for September remained about the same with 28 sales compared to 30 a year ago, but sold a week faster averaging only 40 days on the market.
Rental properties took a week longer to sell on average and the number of sales remained the same with 62 compared to 63 last year.
Similarily, borrowing costs are still extremely attractive. Prime remains at 2.25%. 5 year money can be had for as low as 3.84% and the best variable rate money is 2.35%.
We still have alot of people waiting for the right homes to come along so we may see this activity continue as long as new listings keep coming to market.
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