October 2014 - Market Update - Whitby
With the September 2014 Market Watch report being released from the Toronto Real Estate Board this past week, there is continued good news for home owners in Whitby.
The market has continued strong though the month of September and although the number of homes sold year-to-date was down slightly to 1,684 from 1,702 in 2013, the average home price was up to approximately $430,694, which is a 10.6% increase from the same period last year. If we take a look at the month of September as a “stand alone” month, the average home price sits at roughly $452,908 based on roughly 171 sales.
September also marked the “kickoff” to our fall market, which is evidenced by 276 new listings, up from the 188 new listings that came on the market in August. This large supply of new listings did not necessarily translate into a huge number of new sales as during the month of September, we saw 171 properties sell, which was up only slightly from the 168 properties that had sold the month before.
Overall, this month’s report offers good news for both buyers and sellers…. Prices continue to be strong for anyone looking at selling a home, and with more new homes on the market, it gives buyers a larger selection of inventory to choose from.
Regardless of whether you are looking to buy, sell, or just learn a little more about the market and what your options are, we are always here to serve as a resource and help in any way we can. Visit us online at www.TeamDowney.ca