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
