Monthly Market Report I just did my scan of the May sales numbers for the Toronto Real Estate Board today. It looks like any previous fears some people had of a pending downturn in the market aren’t materializing. Sales numbers are steady. The number of sales (10,182) is pretty close to what happened in June 2012, off by only approx 3%, so there really is no significant change. We are definitely in the thick of things with the spring market. Slightly more homes for sale this year. There are 22,677 homes for sale on TREB which is up by around 10% over May last year. There are more choices in some areas for the buyers which is a welcome relief. Remember, there are some areas and price ranges that are REALLY hot and others are more balanced. The number of new listings coming on the market is on par with last year so things won’t change much. Town of Milton? The number of sales in Milton has gone UP by 11% over last year. We are still one of the most active areas in the GTA. The number of homes for sale has also gone up over last year but we’re still holding at a 1.6 month supply of homes for sale. What’s going to happen? Status quo! Nothing dramatic will change. Sales will remain constant and prices will increase slightly over the year (3-5%). Mortgage rates are still VERY low. It’s a very healthy real estate market now and for the foreseeable future. Is it a good time to buy or sell? My standard reply to this is “Only if you want to move!” The real answer to this question is different for everybody. If you want to get a clear picture, please give me a call. We’ll get together and chat about it. And remember, if you know anyone who needs help with real estate and is looking for an agent, I have a good one in mind! Yours Truly, Troy
Posted on: Wed, 12 Jun 2013 12:24:39 +0000
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