Whitby Market Report for February 2014
Despite the cold weather, tons of snow and a winter that is lasting longer than we would all like, it’s obvious home buying/selling was still a priority for many people around the GTA and especially Whitby in particular.
The average sale price of a home in Whitby was $429,187 last month which is up from $387,551 at the same time last February. That represents a 10.7% increase in year-over-year house prices.
There were 131 houses sold in Whitby last month which is down from the 186 houses sold in February of 2013. However, home sales are increasing every month as we only saw 93 houses sold in January and 82 houses sold in December. There are always seasonal trends and we will most likely see more and more homes selling every month as we lead into the spring market.
Another sign that the housing market is still being driven by strong demand is the average number of days it takes to sell a house. Currently, the average days on market is sitting at a mere 16 days compared to the average of 26 days it took in both December and January. Last February we were sitting at an average 21 days for a house to sell in Whitby.
What does all of this mean?
Well, if you are looking to buy a house you need to be ready to act fast. Do your homework, learn what's available and think about what you want so that when you find the perfect house, you can act fast and not miss out.
If you would like to receive a daily list of all the brand new homes for sale in Whitby along with all the reduced properties and distress sales, sent direct to your inbox every morning, just click here.
If you are considering selling your home, now is the time. We have not yet seen the flood of new listings that we typically see in the spring market which means supply is low and therefore demand is still high. In February we saw 216 new houses listed for sale in Whitby. This is up from the 160 new MLS listings we saw in January, but nowhere near the 300 to 400 new listings we typically see each month in the spring.
If you would like to speak to us about the current value of your home and how we can help you get top dollar, just click here.
For all your Whitby Real Estate needs, we are always happy to help.
Dennis Downey, Sales Rep
Kim Downey, Broker