We saw a slight improvement over last month with 214 sales. Almost up 11%. This pales in comparison to a year ago when we transacted 300 sales.
The average price for a detached 2 storey home was approximately $703,000 this August. Last year the average was $645,000, about a 9% improvement.
Days on market were about the same with 39 compared to 38 last year. As were rental sales with 88 versus 89 last year.
Even though the prime lending rate is higher this year (2.75%) 5 year mortgage money as well as variable rate money is about 30 basis points cheaper at the moment at 3.64% & 2.10%, respectively.
We are all hoping for a strong fall.
Friday, September 3, 2010
Monday, August 2, 2010
Oakville Sales Activity July 2010
The market continues to be very slow and showing activity is soft. Much more so than we normally see.
We had 190 sales this July compared to 364 a year ago and 270 this June The average price for a detached 2-storey home still remains high for metro Tronto at $712,000. The average days on market all types of housing was 38 and continues to inch upwards.
There were 74 rental sales. 13 were condo apts and 4 detached homes went above $5,000/mth. One was a Southeast lakefront bungalow.
Bank prime is 2.75% w/5 year money hovering 4% and 5 year variable available at 2.15%.
We had 190 sales this July compared to 364 a year ago and 270 this June The average price for a detached 2-storey home still remains high for metro Tronto at $712,000. The average days on market all types of housing was 38 and continues to inch upwards.
There were 74 rental sales. 13 were condo apts and 4 detached homes went above $5,000/mth. One was a Southeast lakefront bungalow.
Bank prime is 2.75% w/5 year money hovering 4% and 5 year variable available at 2.15%.
Thursday, July 1, 2010
Cooler times are upon us
There were 270 sales in June. Down from this May's 350 sales however, 2-storey homes average sale price reached $794,000.
There were 27 sales above one million dollars compared to 21 a year ago. The average price (all types of housing was $610,000 up $100,000 from a year ago and $17,000 over last month.
The average time to sell continues it's upward trend over the last few months with 33 days for June.
Rentals activity was about the same as last June with 70 transactions.
5 year money can be had for 4.39% which is similar to June '09's 4.35%. 3 year variable is available at Prime less 65 basis points. Prime is 2.50%.
We are definitely in a balanced market. Showing activity has severely dropped off and the market seems much cooler than normal.
There were 27 sales above one million dollars compared to 21 a year ago. The average price (all types of housing was $610,000 up $100,000 from a year ago and $17,000 over last month.
The average time to sell continues it's upward trend over the last few months with 33 days for June.
Rentals activity was about the same as last June with 70 transactions.
5 year money can be had for 4.39% which is similar to June '09's 4.35%. 3 year variable is available at Prime less 65 basis points. Prime is 2.50%.
We are definitely in a balanced market. Showing activity has severely dropped off and the market seems much cooler than normal.
Friday, June 4, 2010
Oakville May 2010
There were 350 sales in May, down 14% from May '09 (398 sales). The average sales price (all types of housing) was $583,000. The average sale price for 2-storey homes was $729,000. It took on average 25 days to sell a home compared to 45 days a year ago. Which is normally pretty good however, that is up slightly from April 2010's 22 days and March's very "hot" 12 days.
We are seeing a cooling from the earlier Spring market excitement. The market is becoming more balanced as more listings come out and we are seeing a large number of price reductions as seller's try to get their homes sold.
The good news is prices are up year over year about 8%.
Mortgage money inched up with 5 year money being offered at 4.35%. The banks raised there longer term rates a 1/2 point. Variable money is still quite attractive and in the low 2% range depending upon the term. Rates are expected to climb another couple of points before yearend so we should see reasonably activity in the third quarter as sellers and downsizing boomers take advantage of these high prices.
We are seeing a cooling from the earlier Spring market excitement. The market is becoming more balanced as more listings come out and we are seeing a large number of price reductions as seller's try to get their homes sold.
The good news is prices are up year over year about 8%.
Mortgage money inched up with 5 year money being offered at 4.35%. The banks raised there longer term rates a 1/2 point. Variable money is still quite attractive and in the low 2% range depending upon the term. Rates are expected to climb another couple of points before yearend so we should see reasonably activity in the third quarter as sellers and downsizing boomers take advantage of these high prices.
Sunday, May 2, 2010
April 2010 Stats
There were 372 sales in April with 22 properties going above one million and 154 selling between $500,000 & one million. The average days on market was up from March at 22 days. In April 2009 there were 310 sales and in 2008 there were 360 sales.
There were 68 rentals transactions. 24 were condo apts and 21 were detached homes. The highest rental was $8,500 a month for an apartment at 111 Forsythe.
The ultra high end market is still quite slow as are properties which are being offered as land value for new build situations.
Long term rates have edged up. 5 year money can be had for 4.29% with variable money offered at 1.75%. Prime is still 2.25%.
There were 68 rentals transactions. 24 were condo apts and 21 were detached homes. The highest rental was $8,500 a month for an apartment at 111 Forsythe.
The ultra high end market is still quite slow as are properties which are being offered as land value for new build situations.
Long term rates have edged up. 5 year money can be had for 4.29% with variable money offered at 1.75%. Prime is still 2.25%.
Sunday, April 11, 2010
12 Days on Market
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.
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.
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.
Subscribe to:
Posts (Atom)