As a GTA Realtor I constantly read about the Housing Market and its influences.  On this page I like to share information that I find to be unbiased and interesting.  My own comments are in blue...  Deepti

My outlook for Fall/Winter 2011: 
 
2011 has had it's ups and downs.  Many of the world economies are in Turmoil. Canada has a strong stable Economy.  The GTA Housing Market has stayed steady in this environment.  It survived the recession of 2008.  This is because of supply and demand, the overall positive net imigration into the GTA, and the interest rates that have stayed steady at a historic low.  The affordability in the GTA is still good and better than 1988.    

Investors looking for a stable investment:  There is never a perfect time to jump into the market.  Overall since 1988 the GTA housing market has experienced a steady gain.  If you are considering Real Estate as an investment, now is the time to educate yourself. Let me help you get started.

From TREB Marketwatch  
(for a complete copy of this report visit the TREB site www.torontorealestateboard.com )
 

Strong August Home Sales in the GTA

September 7, 2011 -- Greater Toronto REALTORS® reported 7,542 sales through the TorontoMLS® system in August – a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010. Market conditions remained tight as sales growth outstripped growth in new listings.

"Home sales in the GTA have stood up well despite a less certain economic outlook," said Toronto Real Estate Board President Richard Silver. "Home sales will be bolstered by low mortgage rates moving forward. The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, home ownership affordability in the City of Toronto could be further improved with the removal of the City's land transfer tax. This tax currently represents a substantial upfront cost for home buyers."

With market conditions remaining tight in the GTA, the average selling price continued to grow strongly in August – up by more than 10 per cent year-over-year to $451,663.

"We remain on pace for the second best year on record for sales. Approximately 90,000 transactions are expected by the end of December," said TREB's Senior Manager of Market Analysis Jason Mercer. "Major home ownership costs, including the average monthly mortgage payment, remain affordable despite the strong price growth experienced so far this year."

August Average Selling Price
In August, the average selling price was $451,663, up from the $409,564 recorded during August of 2010.