May 03, 2017
Kathy’s Uxbridge Real Estate Market Update For April 2017
Uxbridge Real Estate Month End Market Update
… By The Numbers
Sales year over year are up 37.84%
New listings year over year are up 92.68%
Average Days On The Market year over year is down by 38.89%
Average Sale price is up 15.85%
This past month there were 79 new listings and 51 residential sales reported by the Toronto Real Estate Board for Uxbridge. The 51 sales represents a 18.60% increase from the 43 sales last month and a 37.84% increase over last year.
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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.
Cause and Effect …..
While we are still seeing multiple offers, month end numbers indicate a little relief for home buyers in Uxbridge. The increase in new listings meant beleaguered home buyers had a wider selection resulting in fewer buyers bidding on the same home.
This increase in listings was offset to some degree by the increase in sales leaving a net increase of 50% more homes available at month end. This, in turn, may have a softening effect on our prices if the trend to more listings than sales continues.
RE/MAX Spring 2017 Market Report
It should come as no surprise that high demand and limited inventory resulted in significant price appreciation across the GTA during the first quarter of 2017. Read on ….
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 -3.2%, with the number of new listings up 33.6% over the same period.
The average selling price for April 2017 was $920,971 compared to $739,762 in April 2016.
“The fact that we experienced extremely strong growth in new listings in April means that buyers benefitted from considerably more choice in the marketplace. It is too early to tell whether the increase in new listings was simply due to households reacting to the strong double-digit price growth reported over the past year or if some of the increase was also a reaction to the Ontario government’s recently announced Fair Housing Plan,” … Toronto Real Estate Board President Larry Cerqua.
The Average Selling Price for homes in the GTA ….. UP 24.5% from the same period last year
“It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months,” 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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