In
Canada, spring is the luckiest season for hunting of Ajax homes. From April to
July, about 40% of the annual housing sales are recorded. According to the
statistics of the Canadian Real Estate Association, the real estate market of
Canada is balanced. Despite of the growth of real estate sales during February
to March, the figures of housing transactions fluctuate on year-to-year basis.
Due to the tight rules of mortgage lending, the Canadian market experienced a
great slowdown. But this has been balanced at the first quarter of this year
2013. By 2014, the real estate market of Canada is expected to experience the
balancing activities.
According
to the records collected by the Real Estate Board’s MLS Systems, the
co-operating real-estate listing in Canada will go up by 2.4% month-by-month
basis. Along with Greater Vancouver, Calgary, Montreal, Saskatoon, Kitchener-Waterloo,
Hamilton-Burlington and Greater Toronto, about half of the local real estate
markets have experienced significant improvements in home sales. In March 2012,
the annual sales in Canadian markets were about 15.3%. In comparison to last year,
this gap is reduced with a remarkable decline of 15.9% in February home sales.
A Thriving Start of Home Sales in
Spring Season
As
per the data of Toronto MLS System from Greater Toronto REALTORS, sales of
about 4260 properties are recorded in April. This is slight downfall of -1% as
compared to same month of last year. As Good Friday fell in April of 2012,
while it was on March of 2013, an additional working day is added at the first
quarter of this financial year. Nevertheless, it deserves to be introduced as a
positive beginning of New Year for the Canadian real estate market. When it
comes to the average selling price of Ajax
Condos and detached apartments, it was $505,617 in 2012. In the mid-April
of 2013, a substantial hike of 4.3% has been seen of over $527,397.
Similarly,
this average hike is observed in the Greater Toronto Area and its surrounding
provinces. This mid-season price growth of real estate is exceeded the
prediction of TREB i.e. 3.5% increase in 2013.
Nevertheless,
these high prices can fall down in the next couple of years because of
increasing construction of condo apartments in Toronto and other regions.
Hence, home owners can get some sort of relief in the upcoming years. Next good
news is that real estate experts are expecting this fall in the second quarter
of 2013-2014 by around 8%.
No comments:
Post a Comment