July’s 7,570 sales brought the total sales of 2012 up to 58,050 and is on pace for 92,500 sales, which will make 2012 the second best year in the history of the Toronto Real estate board after 2007 (93,193 sales).
On average, July, August and September sales have less activity than the preceding 3 months and represent only 25.29 % of the year’s sales, with August and September lower than July. By contrast, April, May and June average, 31.57% of the year’s sales.
As we continue into August and September, the number of sales continue to drop, (August 8.33% and September 7.94%), before we get the last “sales bump” of the year in October with an average of 8.34% of the year’s sales.
While these numbers may seem tedious, they are important to me (and you) as they help me give the right guidance to my clients as to when is the best time to sell or buy.
August and September are a great time to buy if you are considering a purchase. Toronto real estate continues to be a great investment. The economy, immigration and low mortgage rates continue to cause real estate to increase and there seems to be no change to those factors on the horizon. As a matter of fact, as Europe continues its woes, Canada and Toronto become a safe haven for investors and their money. In the long term, real estate has been and will continue to be a great investment.
As kids get ready for college, if you and they are looking for rental accommodations, keep in mind purchasing a condo; it’s a great time both for having a selection and ability to negotiate a better price.
Have a great August, and if you or a friend are talking real estate, give me a call, I would love to share my knowledge and experience with you. (I also love your referrals!)
Hope you are enjoying the summer,