It’s official, 2012 is off to a great start!
Not only did January 2012 home sales set new records, but also clearly show a “strong” real estate market with no signs of slowing down. According to the Toronto Real Estate Board, sales volume went up 8.8% across the GTA, and price growth was up almost 9% in comparison to January 2011-Translation; The market is heating up and if selling your home is on the horizon, then stop sitting on the fence and get it on the action-hint,hint: it’s a seller’s market!
So what is driving the market you ask? Well, there are several factors influencing current market conditions which favour both Sellers and Buyers. Sellers can really cash in by getting top dollar for their home relatively quickly, due to the increased Buyer demand and low inventory levels, and Buyers can reap the benefits of “record low” mortgage rates which MAXIMIZE their buying power, plus allow them to compete in the marketplace with other buyers and buy with confidence.
There is something for everyone in the current market, and with the much anticipated “Spring Market” around the corner, the market is bound to sizzle. As long as demand stays strong so will the market, so if buying or selling is on your “To Do” list this year, this is a great time to do it.
With Milton showing growth at an astounding rate of 56.5% according to recently released 2011 Census figures by Statistics Canada, it’s no secret that demand for housing here is high and home prices continue to climb.
January 2012 kicked things off to a great start with a total of 86 sales, and set the stage for what promises to be a prosperous year in real estate.
Here is what things looked like in January 2012:
Source: Toronto Real Estate Board.