How's the Market? (April 2014)

Greater Toronto Area Realtors® reported 9,706 sales during April 2014, compared to 9,535 transactions in April 2013. The average selling price during April for a resale home in the GTA was $577,898, up by 10.1 per cent compared to the average reported for April 2013.

“April marked the beginning of the spring market, during which time we generally see the highest monthly sales totals in a given year. Despite the persistent shortage of listings, a substantial number of GTA residents were able to come to terms on a home that met their needs. However, sales levels would have been higher, but for the lack of supply,” said Ms. Usher.

“Price growth for the GTA as a whole was driven by the single-detached, semi-detached and townhouse market segments in the City of Toronto. So far this year, there has been no relief on the listings front for these home types in many neighbourhoods in Toronto and surrounding regions. Until we see a marked and sustained increase in listings, we should expect to see the annual rate of price growth above the long-term norm,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

Housing Market Watch: Durham Region

Within Durham Region, 1130 residential home sales reported during April, that's a 19% increase in sales compared to 947 in March. The average sale price during April was $391,351, up 9.4% compared to the average price reported in April 2013. The year-to-date average selling price is $384,980, which represents a 10 per cent increase compared to the same period last year.

The price growth is expected to continue. But even with increased average selling prices, Durham Region's housing market remains affordable and demonstrates great investment opportunities.

If you are looking for a house in Durham Region or are already a homeowner and wish to move to a new house in Pickering, Ajax, Whitby, Brooklin, Oshawa, Courtice or Bowmanville, please contact me or visit my website for more information.

I can answer all of your questions, help you find the right neighbourhood and the perfect house at a great price. Having sold real estate full time in Whitby and the surrounding areas for over 20 years, you can assured of exceptional local market knowledge and  skilled representation. Nothing beats experience.

As the top producing agent for 2013 at Re/Max Rouge River Realty Ltd.(amongst our five offices), you can be assured of a worry- free move and service that will exceed your expectations.

Randy Miller
Sales Representative
Re/Max Rouge River Realty Ltd., Brokerage
905-668-1800 or 905-427-1400
randy@randymiller.ca
www.randymiller.ca