OK, Some More Good News About Toronto Real Estate

I’ve just done the stats for Toronto Real Estate Board sales for the first half of February and the bellweather ratio of sales-to-listings is up!

Through November, December and January that ratio has hovered around the 13% mark indicating a very strong buyer’s market. Most agents in the business however have noticed an increase in buyer interest starting the second week of the New Year.

Although this month’s Toronto MLS listing inventory is still at a record high with 21,773 houses and condominiums currently for sale (up 20.8% from 2008), we’re projected to have approximately 3,850 sales during the month of February.

Although this sales figure would be 36% below last year’s Toronto home sales number for the same month, the ratio of sales-to-listings for February 2009 is projected to be 17.7%… a nice 4+% increase over the last three months.

I’ve been reading several articles from various Realtors throughout the US and they’re seeing a similar trend. We’ll take the good news any way we can get it .

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