You’ve Bought Firm But Your Home Has Not Sold Yet …..
As the market transitions from a sellers market to a buyers market You may find yourself in the position of having to close on your new home with out having sold your existing home.
Hopefully you have prearranged financing to allow you to do this ….. but what happens if you can’t close ….. can you just walk away from the deal ….. will you simply loose your deposit, or will it cost you more? Real Estate lawyer Mark Weisleder of Parnes Rothman LLP provides some answers and options
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
Median Sold Price This Month $774,700
Average Sale Price This Month $850,035
Median Sold Price Last Month $805,000
Average Sale Price Last Month $870,098
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
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If you are contemplating the sale of Your Home contact us
Local Uxbridge Month End Real Estate Market Snapshot
Click on the image to view all the charts
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.
View All Our Current GTA Housing Market Charts Click Here
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
Statistics Are What They Are
The Real Estate Market Is Local and sometimes hyper-Local While Statistics Charts and Graphs may provide an indication of market trends they should not be used to determine value trends in relation to a particular home or vicinity.
The best way to determine the Value of Your Home is a Comparative Market Analysis. To discuss today’s local Uxbridge Real Estate Market Conditions, the current value of your home or the marketing of your Home please Contact Me @ 905.852.6143
caveat – E&OE – these numbers reflect the raw data as reported by the Toronto Real Estate Board for the past month at the time of posting.
** “New” listings entered into the Toronto MLS® system between the first and last day of the month being reported may include listings that were previously listed and cancelled or expired and then relisted.
