Maybe this is the "RIght" Time
Brian Madigan LL.B.
Frequently, real estate buyers and sellers wonder whether they have missed the market. Sometimes, they have.
So, what would you say about mid April 2011?
The market has shown steady growth and sales. The first quarter numbers show that the pace is steady and the more recent March numbers have been the second best on record. And, something which is particularly important for sellers, the sale prices have never, ever been higher.
Let's see what percentage of homes have sold in the first quarter of each year since 2004:
2004..........23.22%
2005..........21.67%
2006..........24.13%
2007..........25.69%
2008..........23.19%
2009..........16.69%
2010..........25.69%
2011........yet to be determined
The sales in the first quarter of each year approximate 22.89%. That's a little shy of 25% which might otherwise be expected. But remember, that's mostly winter months in the GTA with lots of inclement weather. It also includes the March break.
Well more than half the transactions will have taken place by the end of June, so for sellers, this is certainly a good time to list your property.
For buyers, the prices might be a little higher and the competition might be a little higher, but this is the time when the better properties are on the market. And, if you are planning to stay for a while, you really want the right house.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through Royal LePage Innovators Realty, Brokerage 905-796-8888
www.OntarioRealEstateSource.com
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