Home Staging Toronto – Toronto Home Staging Blog

The article below authored by Tom Lebour was published recently in the Star.

 

The Greater Toronto Area resale housing market has been very active in recent months. Sales in February, March and April all set monthly records. Last month, 9,470 homes changed hands and while not a record setting month, it is within one percent of May 2009′s 9,589 sales.

 

While last month’s figure surpassed May 2008′s 9,411 transactions, it was well off the 11,146 sales that took place in May 2007, which remains the strongest of all months on record.

 

Zeroing in on the specifics of last month’s numbers, there were 3,887 sales in the 416 and 5,583 transactions in the 905 region. Activity in the 416 area actually increased by nearly 3% from May 2009 when there were 3,777 sales. There was, however, a decline of nearly 4% in the 905 region compared to May 2009′s 5,812 transactions.

 

The 2,894 condominium purchases that took place comprised nearly 31% of all sales in May, while at this time a year ago condominium apartments comprised 29% of the month’s transactions. The condominium lifestyle is being embraced by growing numbers of homebuyers, likely due to the affordability and convenience it offers.

 

Although sales activity fell marginally short of last May’s result, prices have shown remarkably strong appreciation. Currently, the average price of a home in the GTA is $446,593, which represents an almost 13% increase over the May 2009 average price of $395,609. Price increases in both regions were comparable last month. In the 416, the average price of $493,265 rose nearly 14% from $432,478 a year ago. In the 905, the average price of $414,099 increased more than 11% from last April’s $371,649 average.

 

The strong sales and price growth we have seen in recent months was anticipated, given that many of this spring’s homebuyers have undertaken purchases before additional costs associated with rising interest rates and the July 1 implementation of the harmonized sales tax occur.

 

While the pace of activity has been brisk, with homes currently remaining on the market for an average of 22 days compared to an average of 35 days last May, the gap between sales and listings has begun to increase. There are now 25,414 homes available for sale throughout the GTA in contrast to 21,524 a year ago.

 

This pattern indicates that we will likely experience more balanced market conditions for the remainder of this year. If you’re planning on buying or selling a home in the coming months though, you need not be discouraged. Regardless of potential market conditions on the horizon, you can continue to achieve a favourable transaction by working with a local realtor. They can advise you on market conditions as every market is different, identify opportunities that suit your needs, and negotiate a favourable agreement on your behalf.

 

Home staging is a highly effective marketing tool used to maximize the selling price of homes and condos.  

 

StagingWorks is the premier Toronto home staging services company.  We provide a complete range of professional services which include vacant home staging, occupied home staging and condo staging.  We have staging packages to accommodate most budgets and serve Toronto, GTA and surrounding areas.

 

Please visit our home staging portfolio for more samples of our staging projects.  Give us some some details on your home and when you’re planning to sell, and get a free home staging estimate.   Or, call us for a free estimate at (647) 409-2091 or anne@StagingWorks.ca.

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Tags: home staging toronto, selling toronto home, selling toronto house, selling your home, StagingWorks, toronto home staging, toronto home staging company, toronto real estate

This entry was posted on Sunday, July 11th, 2010 at 4:06 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.