Edison Samuel* Arlene Samuel*

The MyDaddyHomes Sales Team

*salespersons

February Sales and Average Price: GTA Statistics: March 3, 2010 – Brampton reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types.


Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.”New listings also increased in February, climbing 24 per cent compared to the same month last year.“Annual growth in new listings is expected to continue.


New listings growth will start to outstrip sales growth as we move through 2010,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As the market becomes better supplied, we will see more sustainable single-digit rates of price growth.” Information from the Toronto Real Estate Board

February Sales and Average Price: Brampton Statistics:
March 3, 2010 -- Brampton REALTORS® reported 651 sales through the Multiple Listing Service® (MLS®) in February. There was a whopping jump in the average price for a Brampton detached and semi detached homes in W23 (an increase of 9-13%)  With very affordable interest rates buyers are paying close to full prices for these types of homes. It will be interesting come April when the spring market takes hold to see if this trend continues. The Federal government has already given indication that they are willing to adjust interest rates to cool a heated market.

Buyers gobbled up most of Brampton Freehold townhomes and as new listing came on the market existing ones sold, there is a mark lack of inventory in this housing type. This is a good opportunity for sellers to get their homes on the market and move-up to something bigger.

There was an 8.24% decrease in the average price of Brampton condo apartments in W23, inventory is quite low but should pick up soon, this is a good sign for Buyers.

Barmpton Condo townhomes in both W23 and W24 moved very slowly. Buyers concerned with the high maintenance fees of units and are looking for condo units with fees that are much more affordable. The sales in February showed that only 1 in 3 units sold.“As in the GTA statistics the Brampton market needs to become better supplied, once this happens the average selling price should adjust down.”

Report compliments of Edison and Arlene Samuel, salespersons
The MyDaddyHomes Sales Team

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