February 2012 treb real estate analysis
March 6, 2012
Bubble? What Bubble?
This morning I did my monthly review of the sales numbers from the Toronto Real Estate Board. TREB reported that in February, there were 7,032 sales for the month in the Greater Toronto Area which is approx 16% more sales than reported during February 2011.
At the end of February there were only 14,546 homes for sale in the GTA, which is pretty well the same numbers as February last year. It looks like there were more sales as a result of more new listings coming on the market than last year but the good ones were all gobbled up! SO inventory levels have maintained. In general terms, The Law of Supply and Demand is still tilted more in the favour of Sellers.
How’s The Market? My Answer:
The Spring Market will be fun to watch. In many areas and price ranges quick sales and multiple offers will continue to be the norm. You may hear from some news sources that people are worried about a “bubble” that may burst. I disagree. There is still too little supply and too much demand for that to happen.
Whether selling OR buying, the key to taking advantage of current market conditions is working with the right realtor. When you hear of anyone who may want to buy or sell, please contact me at the office. I promise you that I will take care of them, do a great job and provide them with the best customer service. If you would like any more information, I’m here to help.
Yours Truly,
Hilario Ferreira
Remax West Realty, Brokerage
realestate@hilfer.ca
6473885459

