Toronto Mid May 2010 Real Estate market
HOW IS THE REAL ESTATE MARKET in your AREA– Are you PUZZLED
Toronto – May 17, 2010. Dear Readers --- We analysed the market and recent activities to find out what is happening in the market. If you have been affected by the market and the economy then this will be interesting reading for you. The Toronto Real Estate Board statistics for the recent past has been reviewed. Sales are still strong however the inventory levels are on the rise. The number of homes on the market has gone up. We’ve put some information together for you. You have this information about 21 days before TREB releases their May report to the media.
So far in May there are 5,015 sales reported to TREB! That puts us on track for about 10,000 sales for May. Although this is a very healthy number, it doesn’t seem we will be venturing into record breaking territory as we have for the last several months. What is significant are the inventory numbers. As of yesterday there were 24,805 homes for sale. Inventory has jumped from 18,431 April 1st which is a 35% increase in about 45 days. Although not abnormal in a typical market, this is significantly different than last year when the inventory actually dropped slightly during this time. Some might say we are going into more of a “Normal Market”. In a few areas and price ranges, things are still pretty tight, but in the majority of districts of TREB there are more choices for the buyers out there.
We are clearly experiencing one of the most interesting real estate markets ever.
If you know anyone who wants to take advantage of some interesting market conditions, whether they want to sell OR buy, the key is working with the right agent. It’s more critical now than it has ever been.
For a FULL MARKET report or a REPORT SPECIFIC TO YOUR AREA along with graphs that you can review which shows the trends of the market please call 1-800-452-5802 ext. 555 or visit:
www.ValueHomes.ca/AreaMarketWatch.
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| Month | Inventory | Sales | | | | | | | | | |
| Jun-09 | 18,704 | 10,955 | | | | | | | | | |
| Jul-09 | 16,915 | 9,967 | | | | | | | | | |
| Aug-09 | 15,682 | 8,035 | | | | | | | | | |
| Sep-09 | 15,894 | 8,196 | | | | | | | | | |
| Oct-09 | 14,771 | 8,476 | | | | | | | | | |
| Nov-09 | 13,827 | 7,446 | | | | | | | | | |
| Dec-09 | 10,292 | 5,541 | | | | | | | | | |
| Jan-10 | 12,052 | 4,986 | | | | | | | | | |
| Feb-10 | 14,514 | 7,291 | | | | | | | | | |
| Mar-10 | 18,684 | 10,430 | | | | | | | | | |
| Apr-10 | 22,951 | 10,898 | | | | | | | | | |
| May-10 | 24,275 | 10,000 | | | | | | | | | |
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