Great to see the the luxury market with decent sales volumes. There were 32 sales above $1,000,000. 8 of those sold between $1.5 & $2MM and 9 homes sold above $2,000,000.
That's up from 13 sales above a million in total for this January and 25 sales a year ago February.
It took just under a month to sell all types of homes. The average was 27 days on the market. Several homes had multiple Offers.
The average price of a 2 storey home this February was $878,000, an 8% increase over February '2011.
There were 275 sales during the month up from 152 in January & 238 a year ago. A significant improvement.
Rental sales were off slightly with 46 transactions. The cheapest was a $1200/mth for a small condo apt and the most expensive was for a large detached home in Southeast Oakville which went for $10,500/mth.
5 year money at the moment costs approximately 3.29% with 5 year variable money available at 2.90%.
Saturday, March 3, 2012
Tuesday, January 3, 2012
December 2011
The upper end market is still dragging. During the last quarter of 2011 there were 16 sales above $1,500,000 with only 2 homes selling above the 2 million dollar mark. Looking at the last quarter of 2010 there were 12 homes sold above $1,900,000 and 19 sales.
The average price of a detached 2 storey home last month was $701,000. The month was fairly active with 138 sales up from Dec '2010's 124 sales. 100 of those 138 sales sold below $660,000 coupled with the soft high end market had an adverse impact on out average sale price.
There were 22 properties rented ranging in value from $1,275 to $5500/mth.
The average time to sell was 43 days.
5 year money is available at 3.39% with variable mortgage money running about 2.90%.
The average price of a detached 2 storey home last month was $701,000. The month was fairly active with 138 sales up from Dec '2010's 124 sales. 100 of those 138 sales sold below $660,000 coupled with the soft high end market had an adverse impact on out average sale price.
There were 22 properties rented ranging in value from $1,275 to $5500/mth.
The average time to sell was 43 days.
5 year money is available at 3.39% with variable mortgage money running about 2.90%.
Thursday, December 1, 2011
November 2011
There were a respectable 222 sales during November and 59 rental sales. The average time to sell & rent was 35 & 23 days, respectively. The 35 days on market is better than a year when it took 5 days longer but about a week slower than this October's 27 days.
The average price for a detached 2-storey home was $775,000. That is down $20,000 from this October and almost $40,000 or, about 5.50% from a year ago. 16 homes sold above one million dollars w/14 of those selling below $1.6 million with only one sale above $2,000,000 which went for $2,300,000. The ultra luxury market segment, those homes selling above 1.8 million dollars has been extremely quiet.
The 222 sales during the month were up about 10% from Nov '2010's 201 sales but lower than this October's 263 sales. Volumes do trend lower as we approach the holiday season. Considering Europe's financial distress and gloomy news prices are holding up well and volumes, save for the ultra luxury segment, are very good.
Five year mortgage money can be had at 3.39% almost 2 points below the bank posted rates while comparable variable term mortgage money costs about 2.90%. The Canadian bank prime rate remains at a low 3% and as you may know expected to remain low as per the economic short to mid term forecast.
The average price for a detached 2-storey home was $775,000. That is down $20,000 from this October and almost $40,000 or, about 5.50% from a year ago. 16 homes sold above one million dollars w/14 of those selling below $1.6 million with only one sale above $2,000,000 which went for $2,300,000. The ultra luxury market segment, those homes selling above 1.8 million dollars has been extremely quiet.
The 222 sales during the month were up about 10% from Nov '2010's 201 sales but lower than this October's 263 sales. Volumes do trend lower as we approach the holiday season. Considering Europe's financial distress and gloomy news prices are holding up well and volumes, save for the ultra luxury segment, are very good.
Five year mortgage money can be had at 3.39% almost 2 points below the bank posted rates while comparable variable term mortgage money costs about 2.90%. The Canadian bank prime rate remains at a low 3% and as you may know expected to remain low as per the economic short to mid term forecast.
Tuesday, November 1, 2011
October 2011 Sales Activity
All in all an excellent month with 263 sales. 28 homes sold above $1,000,000. 17 of those went below $1.5 million and one sold above $2 million. There were also 66 rental properties leased which is very active for this time of the year. And the average time on the market was 27 days.
Compare that to a year ago and you would find 201 sales and 14 rentals leased.
The average price of a 2 storey home was $795,000. No doubt we are one of the most expensive areas to live in Metro.
October sales volume was also significantly better than September 2011. Who would have predicted this activity given the gloomy state of Greece, Europe and the USA.
Mortgage money is going to stay very attractive as a result of the global picture. At the moment you can get 5 year money around 3.30% and variable as low as 2.60%.
Compare that to a year ago and you would find 201 sales and 14 rentals leased.
The average price of a 2 storey home was $795,000. No doubt we are one of the most expensive areas to live in Metro.
October sales volume was also significantly better than September 2011. Who would have predicted this activity given the gloomy state of Greece, Europe and the USA.
Mortgage money is going to stay very attractive as a result of the global picture. At the moment you can get 5 year money around 3.30% and variable as low as 2.60%.
Saturday, October 1, 2011
September 2011
Sales volumes this September were up 8.5% year over year with 223 sales but down slightly from this August's 226 sales. The average time to took to sell was about 28 days which is quicker than August 2011 & Sepetmber 2010 where it took 33 and 37 days to sell on average, respectively.
There were 92 detached 2 storey sales w/an average price of $781,000. There were 31 detached bungalow sales with an average price of $573,000, while Freehold THs saw 36 sales w/an average price of almost $470,000 and 20 condo apartments sold w/an average price of almost $275,000.
The rental activity was off with only 57 rentals during the month compared to 89 this August and 62 in September 2010.
The number of sale for homes above one million remained steady with 18 sales this month compared to 19 a year ago. Only 3 homes sold at or above the 2 million dollar mark with the highest sale during September coming in under 2.5 million.
There were 92 detached 2 storey sales w/an average price of $781,000. There were 31 detached bungalow sales with an average price of $573,000, while Freehold THs saw 36 sales w/an average price of almost $470,000 and 20 condo apartments sold w/an average price of almost $275,000.
The rental activity was off with only 57 rentals during the month compared to 89 this August and 62 in September 2010.
The number of sale for homes above one million remained steady with 18 sales this month compared to 19 a year ago. Only 3 homes sold at or above the 2 million dollar mark with the highest sale during September coming in under 2.5 million.
Thursday, September 1, 2011
August 2011
A decent August with 226 sales up slightly from August 2010 when there were 214 sales. The average price for a 2-storey home was $819,000 and there were 93 sales. It took on average 33 days to sell homes & condo's which is faster than the 39 a year ago.
There were 89 rental properties sales, same as this July. Of those, 21 were condo apartments. Rental prices ranged from $1245 for a 1BR condo apartment at The Lighthouse in Bronte to
$6850/mth for a detached home on the lake, also in Bronte .
27 bungalows sold at an average price of $617,000 or, 76% of the cost of a 2-storey home.
5 year money is very cheap right now at 3.44%. Variable mortgage money remains attractive in the 2.25% range.
There were 89 rental properties sales, same as this July. Of those, 21 were condo apartments. Rental prices ranged from $1245 for a 1BR condo apartment at The Lighthouse in Bronte to
$6850/mth for a detached home on the lake, also in Bronte .
27 bungalows sold at an average price of $617,000 or, 76% of the cost of a 2-storey home.
5 year money is very cheap right now at 3.44%. Variable mortgage money remains attractive in the 2.25% range.
Wednesday, August 3, 2011
July 2011
There were almost 100 more sales this July than in 2010 with 289 sales. This is more in line with sales volumes for the July 2008 + 2009. Most of that (180 sales) were for homes & apts which sold for less than $600,000.
The average price of a detached 2 storey home was $796,000. Last July that average was $712,000.
The average time on the market was 29 days for all types of housing. Properties selling above one million took an average of 67 days to sell.
You can still get a detached 3BR single car garage home in the range of $450,000 to $600,000, mostly in Northwest Oakville. And you can get some older 4BR double car garage detached home plans starting in the low 5's in the Falgarwood area, but pickings are slim.
The rental market remained active with 89 sales 19 of which were for condo apartments.
Mortgage money is still very attractive with 5 year money available as low as 3.69% & variable is available at 2.25%.
The average price of a detached 2 storey home was $796,000. Last July that average was $712,000.
The average time on the market was 29 days for all types of housing. Properties selling above one million took an average of 67 days to sell.
You can still get a detached 3BR single car garage home in the range of $450,000 to $600,000, mostly in Northwest Oakville. And you can get some older 4BR double car garage detached home plans starting in the low 5's in the Falgarwood area, but pickings are slim.
The rental market remained active with 89 sales 19 of which were for condo apartments.
Mortgage money is still very attractive with 5 year money available as low as 3.69% & variable is available at 2.25%.
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