MARCH MARKET UPDATE

MARCH MARKET UPDATE

Love and Sales in the Air 

The new year commenced with 47 sales in Aurora for January which was the same result as 2015.  Sales rose to 93 for the month of February from 74 the year prior.  The spike in sales in February may be largely due to the new lending guidelines that became effective Feb 15th, 2016.  Those Buying a home with a budget under $500,000 may still place 5% down, the new lending rules dictate a downpayment increase to 10% for the portion of the home price above $500 000.  Many Buyers were eager to avoid the downpayment percentage increase.

For more information: http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_010.cfm

With demand from Buyers, homes placed on the market also rose from 72 new homes for sale followed by 134 new homes placed for sale in February.  Results remained strong in January for Seller’s receiving on average 99% of their listed price, but the result improved in the Seller’s favour to 101% for the leap year month.  Homes remained on the market between 21-22 days before being sold.

The median price for all home types in January came in at a strong $822,000 which is a 40% increase to the $588,000  median price from the year prior.  February median pricing results were $731,000 for all home types in February 2016, 23% higher than in 2015. The greatest value increase applied to detached homes followed by semi-detached homes.

Positive growth is being felt across York Region and the time to book a face to face appointment with your REALTOR® to discuss and create your plan of action towards building your real estate portfolio is just a phone call or email away.

Written by Connie POWER

Connie POWER is a Real Estate Sales Representative SRS® Seller’s Representative Specialist, ABR® Accredited Buyer’s Representative and SRES® Seniors Real Estate Specialist with RE/MAX Hallmark YORK Group Ltd., Brokerage.  If you are considering buying or selling in YORK region or beyond call Connie directly at (905) 726-0856 or email her: connie@conniepower.ca to book your consultation.

*The statistics provided herein were obtained from the MLS® Regional Housing Market Tables YORK REGION/Simcoe County: Aurora as of January and February 2015 and 2016.

*Not intended to solicit those already under contract.

MARCH MARKET UPDATE

Love and Sales in the Air 

The new year commenced with 47 sales in Aurora for January which was the same result as 2015.  Sales rose to 93 for the month of February from 74 the year prior.  The spike in sales in February may be largely due to the new lending guidelines that became effective Feb 15th, 2016.  Those Buying a home with a budget under $500,000 may still place 5% down, the new lending rules dictate a downpayment increase to 10% for the portion of the home price above $500 000.  Many Buyers were eager to avoid the downpayment percentage increase.

For more information: http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_010.cfm

With demand from Buyers, homes placed on the market also rose from 72 new homes for sale followed by 134 new homes placed for sale in February.  Results remained strong in January for Seller’s receiving on average 99% of their listed price, but the result improved in the Seller’s favour to 101% for the leap year month.  Homes remained on the market between 21-22 days before being sold.

The median price for all home types in January came in at a strong $822,000 which is a 40% increase to the $588,000  median price from the year prior.  February median pricing results were $731,000 for all home types in February 2016, 23% higher than in 2015. The greatest value increase applied to detached homes followed by semi-detached homes.

Positive growth is being felt across York Region and the time to book a face to face appointment with your REALTOR® to discuss and create your plan of action towards building your real estate portfolio is just a phone call or email away.

Written by Connie POWER

Connie POWER is a Real Estate Sales Representative SRS® Seller’s Representative Specialist, ABR® Accredited Buyer’s Representative and SRES® Seniors Real Estate Specialist with RE/MAX Hallmark YORK Group Ltd., Brokerage.  If you are considering buying or selling in YORK region or beyond call Connie directly at (905) 726-0856 or email her: connie@conniepower.ca to book your consultation.

*The statistics provided herein were obtained from the MLS® Regional Housing Market Tables YORK REGION/Simcoe County: Aurora as of January and February 2015 and 2016.

*Not intended to solicit those already under contract.