Wednesday, February 11, 2009

Days on Market up in GTA real estate marketplace

The table below shows the current state of the market at a glance.

It shows the days that it takes for a property to sell in the GTA is up significantly compared to last year. January of 2008 showed that it took on average 36 days to sell your property. January of 2009 it was 49 days, this is a significant increase and shows how the market has slowed since last year.





As well, the table below shows that the number of active listings is up by about 29% meaning there is much more choice in the marketplace in Toronto and the GTA.





With the number of sales down about 47% for year over year, this all equates to a buyers market.





With interest rates at historic lows, this all means it's a great time to buy real estate and buyers should be buying!





I wish you all the best,


Mark




For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com


Toronto Real Estate Board (TREB) Average Prices and Graph

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