Thursday, August 20, 2009

3,393 sales reported to the Toronto Real Estate Board so far in the first 13 days of August.

We have a very strong number of 3,393 sales reported to the Toronto Real
Estate Board so far in the first 13 days of August.

WE can estimate we'll come in around 7,500 to 8,000 sales for this month
which easily beats last August (6,318) by about 22%. The best August on
record was 2007 with 8,059 so there's a small chance we'll beat that.

I'm confident the sales numbers would be much higher if there were a little
bit more inventory available. Currently we have only 16,400 homes for sale.
This is approx 3,000 or 14% fewer than that crazy August in 2007. Inventory
numbers are critically low.

As we all know the "real inventory" (fairly priced homes in a decent area in
decent condition) is turning over immediately with multiple offers. There
has been no summer lull this year. The fall is going to be very interesting!


Another interesting tidbit: We have 8,600 or 35% fewer homes for sale now
than 2008.

Moral of the story: Better get out there and buy a house!
All the best,
Mark

No comments:

Post a comment