The Real Estate Market - Stabilization?

So, the end of May has just passed and the market is proving to be rather interesting at the moment.  I'm helping some Buyer clients look for homes, and interestingly, multiple offer situations are starting to happen once again.  Admittedly, this is in the "hot" area of Leslieville just east of downtown Toronto.  But even here in Brampton where I do most of my work, the market is not a catastrophe, despite the news headlines.

So, here are some interesting statistics for you:

In the Leslieville and South Riverdale area of Toronto (MLS District E1), the total number of homes sold in the month of May was exactly the same as in May 2008 i.e. no change.  And, the price of detached homes actually increased - albeit, only by $38, but it's still an increase!

In the Bramalea area of Brampton (MLS District W24), the total number of homes sold in the month only decreased by 6.3%, and the average price of detached homes only fell by 2.2%.  Sure, this is a decline from May 2008 but really, it's not a large amount.  Notice how these numbers aren't making the news eh?  I guess these statistics are just a little too stable and boring, and aren't "newsworthy".

I've started to read recently that consumer confidence is slowly starting to increase, too.  Personally, I think the general population is tired of the "bad news" and is now looking for good news.  And, this action simply changes their attitude, so consumer confidence rises! 

As a Realtor, this is good news for me.  It's been a quiet few months so it will be nice to get busy again helping my clients buy and sell real estate.  I'm ready when you are.  Go ahead, give me a call at 416-819-2509 or send me an email at jim.datlen@century21.ca.

Professional service. Expert advice.

 

Jim Datlen

Jim Datlen

Real Estate Broker
CENTURY 21 Millennium Inc., Brokerage*
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