Housing Meeting with MP Salma Zahid

 

Last Friday Ram Rajendram and I got the opportunity to meet the Member of Parliament - Salma Zahid  as part of the TRREB -Toronto Regional Real Estate Board’s Government Relations Committee. We had a great conversation on the housing market and on TRREB’s and OREA’s (Ontario Real Estate Association) position on housing. It was a great opportunity to see and understand different point of views in regards to Real Estate. It is great when Real Estate Boards and Associations can share ideas and concepts for better housing with members of the parliament.  @salmazahidmp @thereal_trreb #trrebcommittee @oreainfo #CanadaHousing #MemberoftheCanadianParliament #ScarboroughCentre #OREA #TRREB #Realtors @suttongroup_heritage @suttongroup #GRCCommittee @crea-aci #ProudREALTORS #canadaianrealestate #scarborough #TorontoRealEstate #ProfessionalRealtor #PlacesToLive #HomesForEveryone #TorontoHousing #TorontoRealEstateMarket 

January Toronto Real Estate Market was Strong

Market Watch

Good Start to 2011

February 4, 2011 -- Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010.

"While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points," said TREB President Bill Johnston.

The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.

"The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Median Price
In January, the median price was $360,000, from the $350,000 recorded during January of 2010.

Hot Market

SELL NOW! If you are thinking of selling your property this year, there have been many changes this year, including
increases to the interest rates & the elimination of the 35 year mortgage, that are causing the real estate market to heat up. You can NOW get top dollar for your home, call me today for details.

What is happening in Toronto Real Estate Market?

Well I did not think that it would happen but I am now starting to see the price drop right across the city and the GTA. $10,000 to $20,000 is not uncommon. I am also seeing the builders giving great incentives and power of sales coming out a great prices. It might not be the best time to sell, if we compare it to last spring, but it might be a great time to sell comparing it to this upcoming summer or fall. One thing for sure, it is a great time to buy, amazing rates, great prices and the banks are still helping with the down payment.