Autumn Real Estate Market Update

Toronto Real Estate Board sales in August 2007 became the fifth record-setting month in a row totalling 8,059 sales throughout the Greater Toronto Area. This is up 15% over August of last year. This 2007 summer has been the most active resale market in the history of summers on TREB records.

Although the market has been strong, home prices remain affordable with the average price of a home around 360,000 in August. This is down approximately one per cent from the previous month, giving incentive for buyers. The health of the current real estate market in Toronto Mississauga Oakville Milton and Brampton as well as many other areas is good news for Ontario’s economy. With strong economic fundamentals in place there is confidence in a strong autumn housing market.

The start of September 2007 shows to be strong. With the past five consecutive months being record breakers, September is on track to do the same. Early sales numbers show September sales are up from last year. The real estate market in Canada and the GTA continues to prove its strength month after month.

Thinking of Buying?
View Right at Home Realty Listings in the Greater Toronto Area

Are you planning to make a move?

One of the most common reasons to move is that the size of the family has changed. As the family grows, more rooms and square footage is needed. The perfect house for two soon becomes crowded and the living area per person is reduced. The condo or apartment for a couple is no longer sufficient and a larger home is needed.

Another reason to relocate, is to reduce the commute to work. Perhaps their job has changed, and they need to commute into downtown Toronto, or they now have found work in the suburbs of Mississauga, Oakville, Milton or Brampton as these areas are building up office buildings and commercial centers.

Many would like to have a larger backyard or be in a greener area and enjoy the many nature trails and parks offered. Erin Mills in Mississauga offers many trails that connect with the Credit River all they way down to Etobicoke and the Lake Ontario lake front.

Another reason to move is that the interest rates are still relatively low, and the market is strong to get close to their desired asking price.

Planning to make a move? Call Leif Kalaas
Your Right at Home Realty Inc. Realtor