Whitby Real Estate Market Report - June 2014
It looks like summer has finally arrived in Whitby. The weather is looking up and so is the real estate market.
The Toronto real estate board has just released its May 2014. The results show that both the number of home sales through the GTA and the average selling price were up strongly in May compared to a year ago.
When we look at Whitby specifically, the average price of a house in Whitby went up to $426,579 in May. That is up 9% from May of last year when the average house sale price was $391,501 and up 1% from $421,982 in April.
The number of houses sold in May also went up. There were 263 houses sold in Whitby which is up from 241 in April and pretty much in line with the 259 houses sold in May of 2013.
The number of new listings stayed strong with 337 new MLS listings in Whitby in May.
The average number of days it took a house to sell in May went up to 16 from the 14 days it took in April and the average sale price came down to 99% of the list price compared with the 100% that we saw in February, March and April.
Neither of these are big moves and are both still indicative of a strong market. However, they have made it a bit easier on buyers who have been running out to see listings the same day they hit the market only to end up competing in multiple offers.
To sum up, the market for home sales in Whitby is still very strong and if you were looking to buy a home but have been frustrated with the insanely competitive market that we have been facing, it might be time to start looking again. If you are thinking of selling, it is still a strong market with rising prices.
If we can be of any assistance, don't hesitate to contact us. We are here to help.