March 03, 2017
Kathy’s Uxbridge Real Estate Market Update For February 2017
Right, Wrong Or Indifferent …
Right, wrong or indifferent when it comes to real estate everyone has an opinion.
They range from, prices will continue to rise but at a more moderate rate all the way to we are in a bubble that is about to burst.
Cause and Effect
Here in Uxbridge, as in many heated markets across North America, a shortage of homes for sale last year continued to push prices even higher. As the number of listings dwindled from previous years and home sales rose slightly sales prices rose dramatically.
By The Numbers
Looking at the raw “short term” numbers here in Uxbridge you may feel that a change is in the wind:
Sales year over year are down 4.55%
New listings year over year are down 37.5%
Average Days On The Market year over year is up by 66.7%
Average Sale Price year over year is up 51.7%
Numbers paint a picture but not always the whole picture for example the numbers above don’t tell us the days on the market are up due to the mix of homes being sold (country properties often take longer to sell) They also don’t tell us that changes to the average sale price is often a reflection of a change in the mix of homes being sold.
Remember the best way to determine the Current Market Value of your home, short of selling it on the open market, is to have a Comparable Market Analysis done for your home
Uxbridge Market Update
This past month there were 20 new listings and 21 residential sales reported by the Toronto Real Estate Board for Uxbridge. The 21 sales represents a 50% increase from the 14 sales last month.
View Our Weekly Uxbridge Real Estate Market Updates Click Here
View All Our Current Uxbridge Housing Market Charts Click Here
If you are contemplating the sale of Your Home contact us
Local Uxbridge And Area Month End Real Estate Market Snapshot
*see notes .. Figures represent the MLS Statistical Summary .. data source Toronto Real Estate Board
Search “All” The Listings Here ….. Use our quick search links for homes for sale in the following Durham Region Communities of Uxbridge, Port Perry/Scugog and Brock or the York Region Communities of Georgina, East Gwillimbury, Whitchurch-Stouffville or our map search platform the choice is yours.
GTA MARKET UPDATES
Greater Toronto Area Real Estate Market Update Month End Report
Sales were up on a year-over-year basis by 5.7%, with the number of new listings down 12.5% over the same period.
The average selling price for February 2017 was $875,983 compared to $685,738 in February 2016.
“The February statistics tell me that many Greater Toronto Area households continue to view home ownership as a great long-term investment. The high demand for ownership housing we’re seeing is broad-based, with strong sales growth for most low-rise home types and condominium apartments. This makes sense given the results of a recent consumer survey undertaken for TREB by Ipsos, which found an even split between intending first-time buyers and existing homeowners who indicated that they were planning on purchasing a home in 2017,” … Toronto Real Estate Board President Larry Cerqua.
The Average Selling Price for homes in the GTA ….. UP 27.7% from the same period last year
“The listing supply crunch we are experiencing in the GTA has undoubtedly led to the double digit home price increases we are now experiencing on a sustained basis, both in the low-rise and high-rise market segments. Until we see a marked increase in the number of homes available for sale, expect very strong annual rates of price growth to continue,” Jason Mercer, TREB’s Senior Manager of Market Analysis.
View All Our Current GTA Housing Market Charts Click Here
Thanks for taking the time to read our monthly Real Estate Market Update
Kathy Clulow Office: 905.852.6143
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1- Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the Toronto MLS® system between the first and last day of the month/period being reported.
2 -New listings entered into the Toronto MLS® system between the first and last day of the month/period being reported.
3 – Active listings at the end of the last day of the month/period being reported.
4 – Ratio of the average selling price to the average listing price for firm transactions entered into the Toronto MLS® system between the first and last day of the month/period being reported.
5 – DOM Average number of days on the market for firm transactions entered into the Toronto MLS® system between the first and last day of the month/period being reported.
6 – Due to past changes to TREB’s service area, caution should be exercised when making historical comparisons.
7 – Past monthly and year-to-date figures are revised on a monthly basis.
8 – SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 – Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
data source Toronto Real Estate Board month end reports as posted at the end of each month
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