June 05, 2017
Kathy’s Uxbridge Real Estate Market Update For May 2017
Uxbridge Real Estate Month End Market Update
… By The Numbers
Sales year over year are down 18.37%
New Listings year over year are up 31.94%
Average Days On The Market year over year is down by 50%
Average Sale Price is up 13.14% year over year
This past month there were 95 new listings and 40 residential sales reported by the Toronto Real Estate Board for Uxbridge. The 40 sales represents a 21.57% decrease from the 51 sales last month and a 18.37% decrease over last year.
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
As always bear in mind that numbers paint a picture but not necessarily the whole picture
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.
I’ve Bought Firm But My Home Has Not Sold …..
As the market changes from a sellers market to a buyers market some may find themselves in the position of having to close on their new home with out having sold their existing home. Hopefully they have prearranged financing to allow them to do this ….. but what happens if they can’t close, can they just walk away from the deal, will they simply loose their deposit, or will it cost them more? Mark Weisleder of Parnes Rothman LLP provides some answers and options
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 down on a year-over-year basis by -20.3%, with the number of new listings up 48.9% over the same period.
The average selling price for May 2017 was $863,910 compared to $752,100 in May 2016.
“Home buyers definitely benefitted from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017. However, even with the robust increase in active listings, inventory levels remain low. At the end of May, we had less than two months of inventory. This is why we continued to see very strong annual rates of price growth,albeit lower than the peak growth rates earlier this year,” … Toronto Real Estate Board President Larry Cerqua.
The Average Selling Price for homes in the GTA ….. UP 14.9% from the same period last year
“The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out. On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by listing their home for sale to take advantage of these equity gains,” 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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