Real Estate is Baaack!

What a month it has been!

The pace of activity for the Toronto market has really picked up lately. Driven primarly by first time buyers and moderate move-up buyers, the Toronto real estate scene shifted this past month into overdrive. Suddenly multiple offers for properties, bidding wars and selling over asking has returned!

Toronto market statistics were provided by the Toronto Real Estate Board today.

Did you know the market prices have been rising steadily for the past several months?

For the month on May 2009, the Toronto average selling price rose by about $10,000 to $395,609, that is just off the all-time high figure of $395,866 set in May 2008. So that's up 2.6% from one month before, down just %0.6% from one year ago.

Given that there have been more sales in the low and moderately priced homes, once the higher-end homes start to sell more,there should be a further jump in average prices.

June was the busiest month since June 2007, with 9,589 properties changing hands.

Take advantage of this market opportunity... call Ralph Evans at 416 577-5486.

RE/MAX Report Gen X to flex new purchasing muscle in recreational property markets across Canada

RE/MAX has released its 2009 annual Recreational Property Report...

Mississauga, ON (June 2, 2009) - Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country, according to a report released today by RE/MAX.

The demographic shift was noted in the 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets. The report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago. Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

"After being priced out of most markets for the better half of the last decade, Gen X purchasers now have the financial wherewithal to buy recreational product at virtually every price point," says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. "Gen X is ideally positioned to pick up any slack in recreational property markets caused by softer demand from baby boomers and retirees. They represent the next wave of recreational property owners in Canada and they know it."

Read RE/MAX 2009 Recreational Property Report

From

Etobicoke Real Estate Agent - Ralph Evans