Sunny Sharma - Blog

February Market Watch

sunny.sharma@century21.ca — Sat, 19 Mar 2011 00:00:00 GMT

March 3, 2011 -- Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14 per cent lower than the record sales reported in February 2010.

While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years.

"Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for February 2011 transactions was $454,423, which was more than five per cent higher than the average selling price reported in February 2010.

"Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Median Price
Median Price In February, the median price was $379,000, from the $366,300 recorded during February of 2010

MARKHAM ENERGY RETROFITS COMPLETE THIS MONTH

sunny.sharma@century21.ca — Fri, 11 Mar 2011 00:00:00 GMT

Markham has implemented a number of energy efficiency retrofits at eight Town-owned facilities. Investments in these retrofits will provide these facilities with new energy efficient features* and reduce the Town’s operating energy costs. The following facilities were included:

1. Angus Glen Community Centre

2. 8100 Warden Avenue*

3. Markham Village Library

4. Rouge River Community Centre and Outdoor Pool

5. Markham Civic Centre

6. Armadale Community Centre

7. Thornhill Community Centre & Library

8. Thornlea Outdoor Pool

Energy Service Companies:

Johnson Controls LP

Siemens Building Technologies Ltd.

Construction:

January 2010 – March 2011

Budget:

$3,200,000

October Real Estate Statistics by TREB

sunny.sharma@century21.ca — Wed, 21 Oct 2009 00:00:00 GMT

While demand for existing homes has remained strong, it is important to recognize the context of current statistics. We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price," said TREB President Tom Lebour.

Year-to-date sales, at 69,964 are up six per cent compared to 2008. Average price, at $389,687, is up by two per cent.

"Tight market conditions throughout the GTA will continue to exert upward pressure on home prices in the fourth quarter," explained Jason Mercer, TREB's Senior Manager of Market Analysis. “Expect more listings in 2010 as home owners react to the price gains experienced in the second half of 2009.”