Feb. 04, 2017
Kathy’s Uxbridge Real Estate Market Update For February 2016
The Toronto Real Estate Boards (TREB) Releases 2017 Market Outlook Report
2017: SELLER’S MARKET CONDITIONS TO REMAIN IN PLACE
“Strong rates of price growth and a short supply of listings will continue to make headlines in 2017. TREB MLS® System sales are expected to range between 104,500 and 115,500, with a point forecast of 110,000. The results of a TREB-commissioned Ipsos survey on intending buyers found less respondents planning to purchase a home in 2017 than compared to the previous year. Despite the possibility of a decline in sales, first-time buyers will continue to account for more than half of the home sales in the GTA. Strong first-time buyer activity points to confidence in home ownership as a quality investment. A likely range for the average selling price in 2017 is between $800,000 and $850,000, with a point forecast of $825,000. This suggests an approximate calendar year growth rate ranging between 10 per cent and 16 per cent.”
View the full report @ http://rem.ax/2l1sVCQ
Uxbridge Market Update
Median Sold Price This Month $789,500
Average Sale Price This Month $927,886
Median Sold Price Last Month $1,150,000
Average Sale Price Last Month $1,188,357
This past month there were 20 new listings and 14 residential sales reported by the Toronto Real Estate Board for Uxbridge. The 14 sales represents a 26.32% decrease from the 19 sales last month.
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Local Uxbridge And Area Month End Real Estate Market Snapshot
*see notes .. Figures represent the MLS Statistical Summary .. data source Toronto Real Estate Board
The Toronto Real Estate Boards (TREB) Releases Market Year In Review
2016: ANOTHER RECORD YEAR FOR GTA HOME SALES
‘2016 saw both record home sales and accelerated annual sales growth. Key drivers of record home sales included population growth, low mortgage rates, low unemployment, and above-inflation economic growth, while strong demand and very low inventory resulted in robust price growth. It’s important to note that record home sales in 2016 were heavily based on domestic demand. Foreign buying activity in the GTA represented a minimal 4.9 per cent of transactions. In fact, the great majority of foreign buyers were purchasing a primary residence, a property to rent out, or a property for another family member to live in. You’ll find more on the market in 2016, including the results of TREB-commissioned Ipsos surveys on recent buyers and foreign buying activity in the first section of this report.”
View the full report @ http://rem.ax/2l1sVCQ
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
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 11.8%, with the number of new listings down 17.6% over the same period.
The average selling price for January 2017 was $770,745 compared to $630,193 in January 2016.
“Home ownership continues to be a great investment and remains very important to the majority of GTA households. As we move through 2017, we expect the demand for ownership housing to remain strong, including demand from first-time buyers who, according to a recent Ipsos survey, could account for more than half of transactions this year. However, many of these would-be buyers will have problems finding a home that meets their needs in a market with very little inventory,”” … Toronto Real Estate Board President Larry Cerqua.
The Average Selling Price for homes in the GTA ….. UP 22.3% from the same period last year
“The number of active listings on TREB’s MLS® System at the end of January was essentially half of what was reported as available at the same time last year. That statistic, on its own, tells us that there is a serious supply problem in the GTA – a problem that will continue to play itself out in 2017. The result will be very strong price growth for all home types again this year,”” Jason Mercer, TREB’s Senior Manager of Market Analysis.
View All Our Current GTA Housing Market Charts Click Here
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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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