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Archive for July, 2009

July Real Estate Market Report

Thu, 16th July, 2009 - Posted by Sean Kavanagh - (0) Comment

What an exciting time for real estate! Forget what you have read in the papers or heard on the T.V. The real estate market has rebounded and we are on now on pace to break all time sales records in Toronto, Oakville and Burlington real estate markets. If you don’t believe me, look at the sales numbers for the month of June.

How do the numbers of 2009 compare to the pre-recession real estate sales numbers? Well, just have a look!

% Change from June 2008 to June 2009
• Toronto Real Estate Board has reported a 27% increase in units sold from this time last year and a 2% increase in average sale price from 2008.
• Burlington/Hamilton Real Estate Board has reported a 19% increase in units sold from 2008 and an increase in average sale price of 1.9% from this time last year.
• Oakville/Milton Real Estate Board has reported a 21% increase in units sold but they are still trying to catch up to last years average sale prices.
• Burlington on its own is up 19% in units sold (417 units sold in 2009 compared to 350 units in 2008) and an amazing 6% increase in average sale prices from June 2008! ($374,166 in 2009 compared to $354,864 in 2008).

If you were waiting for the real estate market to bottom, I’m afraid you have missed it! Inventory is being reduced and we are now moving out of a ‘buyer’s market’ into a more stable, balanced real estate market.

For more information on buying or selling real estate in Burlington, Hamilton, Oakville, or Toronto Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit the Sean Kavanagh Real Estate Resource Centre at www.seansells.ca, or at www.seankavanagh.ca I’d be happy to answer any questions to accommodate all of your real estate needs. Follow me on TWITTER or FACEBOOK! You can also contact me at 905-220-9198 or at www.realestatechat.ca as I am now a moderator on the Ontario Real Estate chat forum as well as the Burlington, Ontario sub-forum.

I look forward to hearing from you!

Sean Kavanagh

Building Lasting Relationships and Exceeding Expectations

Category : Market Updates

Canadian Home Sales, and Prices Jump in June

Wed, 15th July, 2009 - Posted by Sean Kavanagh - (0) Comment

Sales of homes in Canada jumped 31.5 percent in the second quarter from the first and saw their first year-over-year quarterly increase since before the peak of the financial crisis, the Canadian Real Estate Association said on Tuesday. The report is the latest piece of evidence showing that consumers are venturing back into the home market, encouraged by low mortgage rates and signs that the worst of the recession is over. A total of 41,304 homes changed hands in the month of June.

Home sales totaled 147,351 units in the second quarter of 2009, up 1.4 per cent from the same quarter of 2008. Home sales rose 8.7 percent in June from May and they were up 17.9 percent from June 2008.
This is on par with the June record for the greatest sales month set in 2007 and is the fourth highest sales month ever for activity in any month on record.

If you were waiting to jump into the market when it had hit the bottom, you have already missed it. With sales volume and housing prices already at pre-recession levels, we can confidently predict that the housing market is on the upswing and will continue to improve.

For more information on buying or selling real estate in Burlington, Hamilton, Oakville, or Toronto Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit the Sean Kavanagh Real Estate Resource Centre at www.seansells.ca, or at www.seankavanagh.ca I’d be happy to answer any questions to accommodate all of your real estate needs. Follow me on TWITTER or FACEBOOK! You can also contact me at 905-220-9198 or at www.realestatechat.ca as I am now a moderator on the Ontario Real Estate chat forum as well as the Burlington, Ontario sub-forum.

I look forward to hearing from you!

Sean Kavanagh

Building Lasting Relationships and Exceeding Expectations

Category : Burlington / Market Updates
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