Greater Toronto Resale Housing Sales Up in First Half of May

TORONTO, May 19, 2009 - Greater Toronto REALTORS® reported 4,561 transactions in the first half of May – an increase of three per cent compared to May 2008.

“Members reported a rise in buying activity this month,” said TREB President Maureen O’Neill. “Many home buyers who were undecided about purchasing a home during the winter months are now proceeding with confidence as a result of the GTA housing market's affordability.”

The average price for MLS® sales was in line with last year, down by less than one-half of one per cent at $399,811.

“More sales and fewer listings resulted in tighter market conditions which pushed the average selling price back up to last year's level,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “Look for new listings to increase as home owners react to the positive news surrounding home sales and prices.”

Is your Home Being Properly Presented???

In today's fast paced, Internet driven world, information is handled far quicker than it ever was just a few short years ago.

When it comes to selling your home, you want to make sure that information is not only correct, but also prsented properly, because most buyers today want good information fast!

In Real Estate, the old saying of "A picture says a thousand words" definately applies as a statistic from 2006, stated that over 77% of home buyers began their search online*.

Here is a excerpt from a February 11, 2007 New York Times Article: "Making every pixel Count"

In real estate, a picture can be worth more than a thousand words. Much, much more. When selling properties online, agents and Web designers say that the pictures buyers see of houses and apartments for sale are often the first — and sometimes the only — chance for a seller to make a good impression. Less-than-flattering pictures can turn buyers off and lead to lonely open houses.
“Good photos will grab people’s attention and help you sell a home,” said Jacky Teplitzky, an executive vice president of Prudential Douglas Elliman Real Estate in New York. “Bad pictures will absolutely give you trouble, because you won’t have any calls on it, and nobody will come to see it.”
Eighty percent of people across the country who bought a new home last year used the Internet while house hunting, and they rated photographs as the most useful tool in their search, according to a survey of buyers and sellers by the National Association of Realtors. The survey also found that 24 percent of home buyers got their first glimpses of their new homes on the Web, up from a mere 2 percent in 1997.

http://www.residential-photography.net/professional-images.html

When Selling your home, you want to make sure your Realtor is delivering what the buyers want to see... more pictures!

To see a list of Virtual Tours of Properties I currently have for sale, or have recently sold, please click on
*http://www.realtor.org/press_room/news_releases/2006/01/hmbuyersellersurvey06

Real Estate Market is Still Hot

If you are thinking of waiting to put an offer in on that cute house you like, but want to wait becuase you think that the prices are going to come down, it's time to get off your butt and make a move.

Homes are selling really well right now, especially the ones that are priced right and show well. This may be a recession, but there are still a lot of people working and with interest rates at hostoric lows, entry level homes are selling like hot cakes.

The sales-listing ratio is climbing again into a balanced market scenario, thus creating urgency for buyers as the inventory of available homes start selling faster.

Prices have declined slightly again, with an April average sale price in Newmarket $327,783, down over 6% from April of 2007 (the Year of the highest average price).

Sales volume is down just slightly from the record setting year for April, with only 8 fewer sales for the month than 2007.

As a general comment on the marketplace, the first time buyer is reaping the rewards of the current economic climate. Delining prices, low interest rates and lots of product to look at. However, those looking to upgrade or downsize are not in a bad position. You may not get exactly what your house was worth this time last year, but the value of the home you are looking at buying isn't likely what it was last year either, in most cases. Overall, if you lose on one end, you'll likely make it up on the other. If your lifestyle requires a change in living arrangements, then don't wait for the market to get hot again to buy or seell, because what you want may not be available, but if it is, I'll bet you it's going to be a lot more expensive.

Newmarket Real Estate Facts:

Lowest Sale for April 2009 Freehold - 3 Bedroom Semi-Detached Bungalow on Longford Dr sold for $162,500.

Highest Sale for April 2009 Freehold - 5 Bedroom Stonehaven home on Lockwood Circle Sold for $737,500.

Personal Note: I was salesperson of the month for Coldwell Banker Southlake Realty for the month of April 2009. Thanks to all my clients that help make that happen!