Market Update – September 2012 YTD - Vaughan Real Estate - Vaughan Homes For Sale

September is always a fabulous month for me personally. The kids are back in school and everyone seems to be back into a routine. As I write this, I am preparing for another Thanksgiving. I have lots to be grateful for and I give thanks for all that we have been blessed with. From a real estate perspective, we have just finished a strong summer sales period and are quickly into the fall market. The market is selected pockets of the city remain very strong.

TREB reported 5,879 transactions for the month of September. The average selling price for these sales was just a little over $503,00 which is an increase of over 8.5% over 2011. When you look at the number of transactions versus 2011, the numbers reflect a 21% decrease, however, there were 2 fewer working days in September 2012 versus 2011. On a per working day basis, sales were still down 12.5% over 2011.

The key reason for the decline revolves around the stricter mortgage guidelines introduced earlier this year. These stricter guidelines are actually a positive measure to help keep the market from overheating. Even with these stricter rules in place, we continued to see substantial competition between buyers. The strong price increase we have been seeing is a function of low inventory from a historic perspective. It still is a good time to be selling. It isn't as crazy as it has been, but it is still all positive news relative to real estate. Mortgage rates are still hovering around the 2.99% for a 5 year fixed term. Awesome rates.

Here are my observations for those that are interested, on the Vaughan Real Estate Market. These quick facts and figures on Vaughan Real Estate and Vaughan Homes For Sale for September 2012 were taken directly from the numbers that the Toronto Real Estate Board publishes each month.
The Vaughan Real Estate market for September had 253 transactions in the month which was only a bit off the 265 transactions done in September 2011. The average price of these transactions was $603,962 which is substantially higher than the average for September 2011 of $556,437. A healthy increase for sure. The old supply and demand theory at work for us again.
Vaughan had 1008 active listings in September with homes selling for 98% of asking price with average days on market of 27 days. Breaking it down by segment shows that there were 144 sales of detached homes with an average selling price of $724,000. Semi detached homes had 24 transactions at an average of $498,000. Townhouses came in at 41 transactions for the month at an average of $489,000. The other major segment was condominiums with 33 sales at an average price of $$353,000.
Again, the Vaughan Real Estate Market remains positive relative to average selling price versus the prior year and with more buyers looking at fewer available units, the numbers make sense.
That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for September. Watch for my October Market Update in the first week of November.
If you want to see these market update numbers for any month and for any area or region, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for.
By the way, when you are dealing with any Realtor, make sure they know these facts as well. If not, find one that does. Have a great day.

 

JOE ANDREOLI TEAM

Vaughan Real Estate Homes For Sale Market Update - February 2012

VaughanReal Estate - Vaughan Homes For Sale - Market Update – February 2012 YTD

As I sit in my office drinking my coffee, I can't stop thinking about this fantastic weather we have been having and how this weather has helped my business. The long range forecast for March Break is sunny and 15 degrees. Not bad for Toronto weather. I’d also like to mention that the year is already going way too fast for me. I think this amazing weather has quite a bit to do with that. I guess it's not good if you are a skier, but you won't find me complaining about the winter so far this year.

During my last update, I was chatting about the lack of snow and the same holds true for the fabulous start we have had for the month of March. I sound like a broken record as that is exactly what I mentioned last month. With this lack of snow and with spring around the corner, one could almost argue that we are in a spring market already. The market is hot and sellers are starting to capitalize on this fact. A good agent will have recognized this by now and would have acted accordingly with regards to their sellers and buyers.

Feburaury 2012 was another solid month from a real estate perspective. GTA sales in February were 7,032 units. That's a 16% increase versus last year for you math junkies. There's lots of active buyers out there. The majority are trying to capitalize on the low mortgage rates. Again, the old supply and demand theories are in play here. The low inventory levels have kept competition between buyers strong, resulting in robust rates of price growth. Common sense really. Now would be a fantastic time to sell if you were thinking of it.

The Toronto Real Estate Board published February market statistics by area last week and I have reviewed the key indicators and will interpret the February numbers for the Vaughan Real Estate Market. In a nutshell, the market is definitely favouring the sellers these days. Inventory remains tight and there are still quite a few buyers aggressively looking.

Here are my observations for those that are interested, on the Vaughan Real Estate Market. These quick facts and figures on Vaughan Real Estate and Vaughan Homes For Sale for February 2012 were taken directly from the numbers that the Toronto Real Estate Board publishes each month.

The Vaughan Real Estate market for February had 351 transactions in the month which was actually up from the 204 transactions reported for January. The average price of these transactions was $609,901 versus $616,647 for January. The average days on market was 19 days which is well below the number 0f 30 days for January. Again, these are all healthy numbers.

If you break down the stats by house type, you will see that all segments remain strong. Detached sales accounted for 197 transactions for the month of February with the average selling price of these homes at $742,765 with the homes on the market for an average of 18 days.

Semi-detached homes represented only 29 transactions with an average selling price of $492,703. These homes were on the market for an average of 15 days before selling. The number is quite low which tells me that their were lots of buyers looking at purchasing with low inventory relative to the market.

Condominiums accounted for 56 transactions and the average days on the market at 32 days which is high relative to the other segments.

That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for February. Watch for my March Market Update in the first week of April.

If you want to see these market update numbers for any month and for any area or region, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for.

By the way, when you are dealing with any Realtor, make sure they know these facts as well. If not, find one that does. Have a great day.

JOE ANDREOLI TEAM

VaughanReal Estate - Vaughan Homes For Sale - Market Update – January 2012 YTD

First off, I’d like to mention that the year is already going way too fast for me. I think this amazing weather has quite a bit to do with that. I guess it's not good if you are a skier, but you won't find me complaining about the winter so far this year.

During my last update, I was chatting about the lack of snow and the same holds true for the fabulous start we have had for the month of February. I sound like a broken record as that is exactly what I mentioned last month. With this lack of snow, one could almost argue that we are in a bit of a spring market atmosphere. The market is hot and sellers are starting to capitalize on this fact. A good agent will have recognize this by now and would have acted accordingly with regards to their sellers and buyers.

January 2012 was another solid month from a real estate perspective. GTA sales in January were 4,567 units versus 4,199 sales in 2011. That's an 8.8% increase versus last year for you math junkies. There's lots of active buyers out there. The majority are trying to capitalize on the low mortgage rates. Again, the old supply and demand theories are in play here. The low inventory levels have kept competition between buyers strong, resulting in robust rates of price growth. Common sense really. Now would be a fantastic time to sell if you were thinking of it.

The Toronto Real Estate Board published January market statistics by area last week and I have reviewed the key indicators and will interpret the January numbers for the VaughanReal Estate Market. In a nutshell, the market is definitely favouring the sellers these days. Inventory remains tight and there are still quite a few buyers aggressively looking.

Here are my observations for those that are interested, on the Vaughan Real Estate Market. These quick facts and figures on Vaughan Real Estate and Vaughan Homes For Sale for January 2012 were taken directly from the numbers that the Toronto Real Estate Board publishes each month.

The Vaughan Real Estate market for January had 204 transactions in the month which was actually up from the 199 transactions reported for December. The average price of these transactions was $616,647 versus $562,602 for December. The average days on market was 30 days which is above the number 0f 27 days for December. Again, these are all healthy numbers.

If you break down the stats by house type, you will see that all segments remain strong. Detached sales accounted for 119 transactions for the month of January with the average selling price of these homes at $756,535 with the homes on the market for an average of 23 days.

Semi-detached homes represented only 10 transactions with an average selling price of $485,425. These homes were on the market for an average of 43 days before selling. The number is quite high which tells me that the prices could have been too high relative to the market.

Condominiums accounted for 3 transactions and the average days on the market at 26 days which is low relative to the other segments.

That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for January. Watch for my February Market Update in the first week of March.

If you want to see these market update numbers for any month and for any area or region, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for.

By the way, when you are dealing with any Realtor, make sure they know these facts as well. If not, find one that does. Have a great day.

 

JOE ANDREOLI TEAM

Vaughan Real Estate Homes For Sale Market Update YTD December 2011

Vaughan Real Estate - Vaughan Homes For Sale - Market Update – December 2011 YTD

     First off, I’d like to wish my family, friends, colleagues, clients and followers of my blog a very Happy New Year. I wish everyone all the best for 2012. Here’s to a healthy, happy and prosperous 2012.

     During my last update, I was chatting about the lack of snow and the same holds true for the fabulous start we have had for the month of January. With this lack of snow, we have been discussing the fact that with this, the spring market may start sooner than most people think. A good agent will recognize this and act accordingly with regards to their sellers and buyers

     December was another crazy month from a real estate perspective and it capped off the second best year ever on record for the Toronto Real Estate Board. The entire GTA had sales of 89,347 units – up 4% in comparison to 2010. My colleague, Richard Silver, President of TREB stated that "Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs, and if Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater Toronto Area,” The same held true for the Vaughan Real Estate Market.

     The Toronto Real Estate Board reported 4,718 residential transactions through the MLS system in December. The average selling price was $451,436 – up 4 per cent in comparison to December 2010. For all of 2011, the average selling price was $465,412, an increase of 8% in comparison to the average of $431,276 in 2010.

     The question I get asked most often this time of year is “What’s going to happen next year?” TREB is forecasting a 4% increase in the average selling price versus 2011. This forecast is subject to a heightened degree of risk given the uncertain global outlook. I tend to agree with them and I believe we are going to have a great year in real estate. For me, the key is maintaining low interest rates. It will be interesting to reflect on this one year from today.

     The Toronto Real Estate Board published December market statistics by area last week and I have reviewed the key indicators and will interpret the December numbers for the Vaughan Real Estate Market. In a nutshell, the market is definitely favouring the sellers these days. Inventory remains tight and there are still quite a few buyers aggressively looking.

     Here are my observations for those that are interested, on the Vaughan Real Estate Market. These quick facts and figures on Vaughan Real Estate and Vaughan Homes For Sale for December 2011 were taken directly from the numbers that the Toronto Real Estate Board publishes each month.

     The Vaughan Real Estate market for December had 199 transactions in the month which was actually down from the 283 transactions reported for November. Makes sense given the holidays. The average price of these transactions was $562,602 versus $549,336 for November. The average days on market was 27 days which is well above the year to date average of 21 days. Year to date sales have totalled 4,198 transactions with the average selling price at $567,258. Again, these are all healthy numbers.

     If you break down the stats by house type, you will see that all segments remain strong. Detached sales accounted for 101 transactions for the month of December with the average selling price of these homes at $711,644 with the homes on the market for an average of 28 days.

     Semi-detached homes represented only 18 transactions with an average selling price of $478,000. These homes were only on the market for an average of 20 days before selling. Super quick which tells me that inventory is very tight with escalating prices.

     Condominiums accounted for 7 transactions and the average days on the market at 16 days which is low relative to the other segments.

     That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for December. Watch for my January Market Update in the first week of February.

     If you want to see these market update numbers for any month and for any area or region, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for.

By the way, when you are dealing with any Realtor, make sure they know these facts as well. If not, find one that does. Have a great day.

JOE ANDREOLI TEAM