Brampton real estate market: June 2010

The average time it takes to sell a home in Brampton currently sits at 24 days.  Most homes are selling anywhere between 97% – 98% of the asking price. There has been a substantial amount of new Brampton listings, resulting in increased choice and selection for prospective home buyers.

In June of 2010, Brampton had 1859 active listings on the market and 1358 new listings. There were 701 recorded sales in this month. Here is the break down according to areas in Brampton.

W0uld you like a full copy of this report?  It’s available for download right here.

Brampton Real Estate Market Report
W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $345,682
Median sale price: $335,000
Average number of days it took to sell a property: 24 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 222
Average sale price: $391,330
Median sale price: $370,750
Average % of listing price a home sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 84
Average sale price: $309,711
Median sale price: $315,000
Average % of listing price a home sold for: 98% of asking price

Condo Apartment
Number of properties sold: 12
Average sale price: $225,875
Median sale price: $212,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 35
Average sale price: $238,326
Median sale price: $235,000
Average % of listing price a home sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 34
Average sale price: $289,297
Median sale price: $290,050
Average % of listing price a home sold for: 98% of asking price

Brampton Real Estate Market Report
W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $347,153
Median sale price: $338,000
Average number of days it took to sell a property: 24 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 164
Average sale price: $430,521
Median sale price: $430,500
Average % of listing price a home sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 58
Average sale price: $321,081
Median sale price: $323,500
Average % of listing price a home sold for: 98% of asking price

Condo Apartment
Number of properties sold: 33
Average sale price: $171,224
Median sale price: $159,900
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 29
Average sale price: $189,607
Median sale price: $187,200
Average % of listing price a home sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 28
Average sale price: $287,382
Median sale price: $301,500
Average % of listing price a home sold for: 98% of asking price

If you are looking for specific Brampton real estate sales numbers for your neighbourhood or street, please contact me!

Welcome to Solstice Condos, a new luxury condo building directly across the street from Square One Shopping Centre in the heart of Mississauga. This particular listing is an amazing corner unit, and boasts the largest 1 bedroom + den floor plan in the building. The entire condo features dark hardwood laminate flooring that leads you into a trendy designer kitchen that includes a high-end stainless steel fridge with a bottom freezer drawer, stainless steel stove, stainless steel dishwasher, and stainless steel microwave/hood combination. The kitchen also comes with gorgeous granite counter tops and dark kitchen cabinets.

As this is a corner unit, you’re granted a fantastic view of Square One to the northeast and a breathtaking view of the Toronto skyline and sparkling Lake Ontario to the Southeast.

The condo also features 2 bathrooms (one of which is an ensuite in the bedroom), stackable washer and dryer, and all the latest building amenities you’d typically find in a new luxury condo. The building is directly across the street from the YMCA, the Mississauga Central Library, the Living Arts Centre, Square One Shopping Centre, Tim Horton’s, Famous Players Coliseum, Mississauga Transit, and much more.

The current list price for this property is $279,000.

If you’re interested in obtaining more information on this listing or would like to see it in person, please leave me a comment here or contact me.

Brampton real estate market: March 2010

March of this year was extremely busy on the Toronto Real Estate Board and helped contribute to the best first quarter on record.  Compared to March of last year, inventory grew by a whopping 42%.

The average time it took to sell a home has dropped considerably to an astounding 18 days! The Brampton real estate market still remains very strong, and most listings that appear on the market have no problems selling for a great price.

In March of 2010, Brampton had 1568 active listings on the market and 1811 new listings. There were 1062 recorded sales in this month. Here is the break down according to areas in Brampton.

Brampton Real Estate Market Report
W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $340,199
Median sale price: $330,000
Average number of days it took to sell a property: 17 days
Average % of listing price a property sold for: 99% of asking price

Detached Homes
Number of properties sold: 344
Average sale price: $384,566
Median sale price: $377,550
Average % of listing price a home sold for: 99% of asking price

Semi-Detached Homes
Number of properties sold: 144
Average sale price: $304,303
Median sale price: $307,750
Average % of listing price a home sold for: 99% of asking price

Condo Apartment
Number of properties sold: 17
Average sale price: $199,206
Median sale price: $207,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 41
Average sale price: $225,851
Median sale price: $225,000
Average % of listing price a home sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 55
Average sale price: $286,031
Median sale price: $289,500
Average % of listing price a home sold for: 99% of asking price

Brampton Real Estate Market Report
W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $356,044
Median sale price: $337,500
Average number of days it took to sell a property: 19 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 237
Average sale price: $433,386
Median sale price: $432,000
Average % of listing price a home sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 115
Average sale price: $314,995
Median sale price: $317,0000
Average % of listing price a home sold for: 99% of asking price

Condo Apartment
Number of properties sold: 32
Average sale price: $171,144
Median sale price: $163,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 34
Average sale price: $206,872
Median sale price: $195,125
Average % of listing price a home sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 39
Average sale price: $287,871
Median sale price: $294,500
Average % of listing price a home sold for: 99% of asking price

If you are looking for specific Brampton real estate sales numbers for your neighbourhood or street, please contact me!

Hi everyone

I will be starting a new weekly segment on my blog called the Brampton Real Estate Recap, where I will be summarizing some of the most common questions I received from my buyers, sellers, or readers from this blog.  Most of these questions are quite relevant to how the Brampton real estate market is doing and the common issues that clients are facing when buying or selling.

If any of you have any questions you’d like to have answered and possibly featured here in an upcoming article, I invite you to join my Brampton Real Estate Message Board.  It’s free to sign up, and you’re encouraged to post your thoughts, questions, or suggestions about anything.  I’ll post any helpful or interesting questions here every week.

And now, without further delay, here are my top real estate questions of the week:

What does “sold conditionally” mean?  Can I still see the house?

When an offer is accepted between a buyer and a seller, the offer is considered only sold conditional.  Typically, in the sale of a home, the buyers will have 5 business days to arrange financing with their bank and have a home inspector visit the home to ensure that there are no major defects with the house.  If the sale involves a condo apartment or townhouse, the buyers will have 5 business days to arrange financing with their bank and typically 2 business days to have their lawyers review the status certificate from the condo corporation.  Whether it’s a house or a condo, if both of these conditions are fulfilled, the deal is then able to go firm.

During the conditional period, sellers have the option of continuing to allow prospective buyers to view the property or suspending showings altogether.

What is a status certificate?

I’ve written a previous article about this here, but in summary, a status certificate is a report that is ordered by the seller upon acceptance of an offer and provided to the buyer for review.  This report outlines important information, such as the condo corporation by-laws, how much money is in the reserve fund, the current budget, how much maintenance fees are and whether they are predicted to increase or remain the same, potential claims against the corporation, and other financial information.  The buyer’s lawyer will review this status certificate and determine whether or not the condo corporation is healthy or not, and if it is, the buyer will be advised to proceed with the purchase.

What should I expect if I’m a buyer in this market?

Despite the fact that Brampton is one of the busiest real estate areas in the GTA, inventory of good homes are still low.  This has created a hot sellers market, and buyers who eventually find a suitable home find themselves competing in a multiple offer scenario with other buyers.  Many homes are selling close to listing price, and a handful are selling above listing price.  If you are in the market of buying a home, be prepared to submit an offer on the same day you find the right home, provided the sellers are accepting offers.  If you wait even a day or two, it may be too late.

I heard I’ll need a 10% down payment after April.  Is this true?

If you’re purchasing a resale home to live in, you will still be able to purchase with just 5% down.  The only change in mortgage rules is for buyers who will be purchasing rental income properties that they won’t be occupying, and if that is the case, they’ll be required to put 20% down.

Will I have to pay HST on the purchase of my home?

If you’re buying a new home, read my article here.  If you’re buying a resale home, all taxes are already included in the purchase price!  You will, however, be paying HST on such services as your legal fees, home inspection, and other real estate related services.

** July 18, 2010 – UPDATE: This community has now been SOLD OUT**

Brampton Real Estate Update

As the Brampton real estate market grows, new subdivisions continue to pop up around the city.  By now, you’ve probably heard that Daniels is set to introduce a new townhouse community in Brampton.  Here is a brief overview of what to expect for this new corner of Brampton and how you can register for the preview.

Where will it be located?
You’ll find this new neighbourhood on Bramalea Rd., just north of Sandalwood Parkway.

What kind of homes will be available for purchase?
150 townhouses will be available in 1 bedroom, 2 bedroom, and 3 bedroom layouts.  The square footage will range from 529 – 1305 square feet.

How much will these homes cost?
Pricing will start at $159,900.  More pricing will be determined soon.  If you would like to be updated on pricing, please leave me a comment at the end of this article.

How much deposit will be required?

1. $2,500 upon signing the Agreement of Purchase and Sale
2. An additional $2,500 10 days after purchasing the home
3. $1,000 each month until you reach 5% of the purchase price

What about HST?
The HST will be included in the price already.

How soon can you move into your home?
Anywhere between 30-90 days of the purchase.

I’m interested in registering, what do I do?
Visit the Daniel’s Registration site.

I’ve heard that lining up for registration is insane!  What’s it like?

If you’re interested in purchasing one of these homes, contact me first to find out more about the process and what it entails!  Always be informed and have sound real estate advice.  In the meantime, check out this video from the recent registrations for Daniel’s FirstHome in Mississauga.

Hi everyone!

In a previous post, I covered Park Place Condos.  Here’s a quick start guide to the other big condo development that is coming up in Brampton. Blade Condos is currently under construction. Read ahead to find out more details on this condo project!

Where is it located?

The official address of this building will be 45 Railroad St., and it will be located in the heart of Brampton, directly across from the GO Station and will be occupying the former Dominion Skate Factory.  Below is a picture of the site before contruction:

Who’s the builder?

Preston Group.

How tall will it be?

26 storeys.

What kind of suites will they have available?

• One bedroom
• One bedroom + den
• Two bedroom
• Two bedroom + den

What are square footages on these units?

The one bedroom units range anywhere between 571 – 831 square feet. The two bedroom units range anywhere between 900 – 1116 square feet.

What amenities will the building feature?

1. Security
2. Skating oval that converts into a walking track in the summer
3. Fitness room
4. Swimming pool
5. Whirlpool
6. Al Fresco Dining Area
7. Yoga room

Are there prices or floor plans available?

Prices start at $179,900.  Please contact me and I’ll be happy to provide them for you.

As promised, here are the final selling prices for homes in the W24 district of Brampton (anywhere East of Highway 410) for 2009.

I’ve just finished compiling the final selling prices for all homes in the W23 district of Brampton (that’s anywhere West of Highway 410) for 2009. I’ll be working on the numbers for W24 and have them posted shortly.

Hope this chart will provide useful for some of you!

Hi everyone!

Here’s a quick start guide to one of the new condos that are coming up in Brampton.  Park Place is currently under construction.  Read ahead to find out more details on this condo project!

Where is it located?

The official address of this building will be 4 James St., and it will be located in the heart of Brampton close to City Hall and Rose Theatre.

Who’s the builder?

Inzola.

How tall will it be?

27 storeys with a beautiful 2 storey lobby.

What kind of suites will they have available?

• One bedroom + terrace
• One bedroom + den + terrace
• Two bedroom + terrace
• Two bedroom + den + terrace

What are square footages on these units?

The one bedroom units range anywhere between 612 – 743 square feet.  The two bedroom units range anywhere between 887 – 1764 square feet.

What amenities will the building feature?

1. Security
2. Library
3. Yoga Studio
4. Fitness Room
5. Home Theatre
6. Party Room
7. Dining Room
8. Billiards Room
9. Boardroom
10. Cards Room
11. BBQ Patio
12. Guest Suite

Are there prices or floor plans available?

Please contact me and I’ll be happy to provide them for you.

Can I see what the building looks like?

You can access a live webcam that shows the construction of the building.

One of the most frequent questions I get from clients is about the upcoming Harmonized Sales Tax (HST) and how it will affect the purchase of a home.  Here is the breakdown of the rules:

When does the HST take effect?

July 1, 2010.

How much tax will I be paying in total?

13% (That’s 5% GST + 8% PST).

I’m buying a resale home, so will I have to pay this HST?

Good news!  The answer is NO!  If you’re buying a resale home, you simply pay the purchase price as usual.

I’m thinking of buying a new home from the builder, so will I have to pay this HST?

Ouch, yes you do!

But wait, I heard there is some sort of rebate program in place if I bought a brand new home?

The Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.

Is there anything else that I would have to pay HST on?

Unfortunately, they’re hitting you everywhere.  You’ll be paying HST on legal fees, moving costs, home inspection fees, and real estate commissions.

Where can I find out the full details of this tax and how it works?

You can read all the exciting details right here.

December 2009

December sales across the GTA showed a 17% increase over the same month of 2008.  Overall in 2009, home prices increased by 4%.

The average time it took to sell a home continued to stay brisk at an average of 27 days, contributing the trend of low inventory of homes in Brampton.

In December of 2009, Brampton had only 849 active listings on the market, 517 of which were new listings. There were 502 recorded sales in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $330,180
Median sale price: $315,250
Average number of days it took to sell a property: 26 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 180
Average sale price: $374,110
Median sale price: $359,500
Average % of listing price a property sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 60
Average sale price: $283,292
Median sale price: $285,450
Average % of listing price a property sold for: 99% of asking price

Condo Apartment
Number of properties sold: 5
Average sale price: $200,300
Median sale price: $205,000
Average % of listing price a property sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 22
Average sale price: $209,345
Median sale price: $203,500
Average % of listing price a property sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 32
Average sale price: $275,361
Median sale price: $266,000
Average % of listing price a property sold for: 98% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $341,958
Median sale price: $333,000
Average number of days it took to sell a property: 27 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 103
Average sale price: $434,451
Median sale price: $428,000
Average % of listing price a property sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 32
Average sale price: $306,153
Median sale price: $301,750
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 27
Average sale price: $165,541
Median sale price: $156,600
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 18
Average sale price: $187,3725
Median sale price: $182,500
Average % of listing price a property sold for: 96% of asking price

Attached/Row/Townhouse
Number of properties sold: 18
Average sale price: $294,967
Median sale price: $293,250
Average % of listing price a property sold for: 98% of asking price

Seasons greetings, everyone!

As the holiday season is now upon us, despite the fact that we’ve still yet to see snow, you might be dreading all the cash you’ll soon be dropping on gifts for your friends and family. And if you’re planning on selling your house this winter, what makes matters worse is thinking about all the real estate commissions you’ll be paying.

So for a limited time, I’ll be taking all listings at 1% commission for the listing side.  As usual, you’ll still have to pay 2.5% to the buyers side.  However, if I sell the house myself to my own clients or from this blog, you’ll be paying only 1% in total.

Although you’ll be paying substantially less real estate commissions, you’ll still be getting full MLS service. Here’s what you’ll be getting for 1% commission:

• Full MLS service, meaning your home gets listed on Realtor.ca (formerly MLS.ca)
• Exposure of your home on the 1st page of Google
• A full article written about your home that will be featured here on the Brampton Real Estate Blog
• Stunning photography of your home that beats over 95% of the typical horrible pictures you see on other listings
• Advertising on several newspapers, websites (including Kijiji, Craigslist, and eShazoom), inter-office postings, and mailings
• An easy-exit promise, which means if at anytime you’re unhappy and wish to cancel, it’s no questions asked and absolutely no cost or fees

Give me a call at 905-268-1000 and ask for Lang, and I’ll be glad to help you sell your home quickly and for the highest possible price.

All the best,

Lang

October 2009

The average price for October transactions increased by 20% compared to October of last year.  Houses valued over $750,000 experienced the largest jump in sales.  Inventory is extremely low and demand is high.

The average time it took to sell a home also dropped substantially to an average of 27 days.

In October of 2009, Brampton had 1,172 active listings on the market, 966 of which were new listings. There were 729 recorded sales in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $326,291
Median sale price: $319,000
Average number of days it took to sell a property: 28 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 269
Average sale price: $360,746
Median sale price: $354,900
Average % of listing price a property sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 81
Average sale price: $289,741
Median sale price: $295,500
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 9
Average sale price: $189,056
Median sale price: $198,000
Average % of listing price a property sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 30
Average sale price: $224,875
Median sale price: $229,000
Average % of listing price a property sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 26
Average sale price: $258,563
Median sale price: $259,950
Average % of listing price a property sold for: 98% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $365,400
Median sale price: $344,000
Average number of days it took to sell a property: 26 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 187
Average sale price: $436,957
Median sale price: $440,000
Average % of listing price a property sold for: 99% of asking price

Semi-Detached Homes
Number of properties sold: 50
Average sale price: $307,534
Median sale price: $302,250
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 27
Average sale price: $174,167
Median sale price: $171,000
Average % of listing price a property sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 21
Average sale price: $192,805
Median sale price: $184,000
Average % of listing price a property sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 20
Average sale price: $291,311
Median sale price: $286,000
Average % of listing price a property sold for: 99% of asking price

June 2009

June of 2009 was a great indication of just how strong the real estate market has bounced back from the lows of a few months ago.  June proved to be the BEST JUNE ON RECORD, showing increased sales by 27% over June of 2008.  The average price for homes in the Greater Toronto Area increased by 2% over the same time last year.  Sales are increasing, and inventory is declining.

In June of 2009, Brampton had 1,681 active listings on the market, 1,222 of which were new listings. There were 901 recorded sales in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $322,801
Median sale price: $309,000
Average number of days it took to sell a property: 33 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 345
Average sale price: $356,205
Median sale price: $345,000
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 104
Average sale price: $278,140
Median sale price: $281,000
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 11
Average sale price: $202,000
Median sale price: $199,000
Average % of listing price a property sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 27
Average sale price: $229,363
Median sale price: $237,000
Average % of listing price a property sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 50
Average sale price: $262,965
Median sale price: $262,250
Average % of listing price a property sold for: 98% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $344,010
Median sale price: $320,250
Average number of days it took to sell a property: 37 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 205
Average sale price: $413,314
Median sale price: $407,500
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 61
Average sale price: $294,284
Median sale price: $291,001
Average % of listing price a property sold for: 97% of asking price

Condo Apartment
Number of properties sold: 31
Average sale price: $172,142
Median sale price: $171,000
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 26
Average sale price: $201,115
Median sale price: $194,500
Average % of listing price a property sold for: 96% of asking price

Attached/Row/Townhouse
Number of properties sold: 32
Average sale price: $278,672
Median sale price: $274,750
Average % of listing price a property sold for: 97% of asking price

May 2009

May proved to be an extremely busy month, with sales up almost two percent compared to May of 2008.  The average price for May transacations was down less than one percent compared to the same month last year.  With recent low mortgage rates, buyers are flocking to listings.  Inventory has begun to decline with so many recent transactions, causing prices to move up.

The average time it takes to sell a home in Brampton has also dropped between 1-4 days, depending on the district.

In May of 2009, Brampton had 1,891 active listings on the market, 1,178 of which were new listings. There were 790 recorded sales in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $322,353
Median sale price: $304,500
Average number of days it took to sell a property: 33 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 305
Average sale price: $354,626
Median sale price: $342,000
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 89
Average sale price: $280,099
Median sale price: $286,000
Average % of listing price a property sold for: 97% of asking price

Condo Apartment
Number of properties sold: 14
Average sale price: $205,786
Median sale price: $203,500
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 17
Average sale price: $218,088
Median sale price: $228,500
Average % of listing price a property sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 33
Average sale price: $248,485
Median sale price: $250,000
Average % of listing price a property sold for: 97% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $328,185
Median sale price: $320,000
Average number of days it took to sell a property: 35 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 181
Average sale price: $386,271
Median sale price: $385,000
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 70
Average sale price: $296,485
Median sale price: $295,500
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 31
Average sale price: $169,181
Median sale price: $180,000
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 20
Average sale price: $195,890
Median sale price: $189,750
Average % of listing price a property sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 23
Average sale price: $299,213
Median sale price: $305,000
Average % of listing price a property sold for: 97% of asking price

April 2009

The real estate market in the Greater Toronto Area has continued to show positive gains in the month of April.  Sales remain only 7% down from April of last year when the market was still strong; however, the seasonally adjusted rate indicates an increase of 26% from the month of March.

The average price for April transactions was down only 3% from last year.  More houses are selling as inventory begins to decline!

In W23 (any area in Brampton west of Highway 410), the average days it took to sell a home dropped from 38 days to 34 days.  In contrast, homes in W24 actually saw an increase in days on the market from 37 to 39 days.

In April of 2009, Brampton had 2,108 active listings on the market, 1,252 of which were new listings. There were 714 recorded sales (up from 539 from March) in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $303,753
Median sale price: $300,000
Average number of days it took to sell a property: 34 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 256
Average sale price: $336,076
Median sale price: $335,500
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 109
Average sale price: $272,067
Median sale price: $270,000
Average % of listing price a property sold for: 98% of asking price

Condo Apartment
Number of properties sold: 11
Average sale price: $179,545
Median sale price: $185,500
Average % of listing price a property sold for: 95% of asking price

Condo Townhouse
Number of properties sold: 23
Average sale price: $223,117
Median sale price: $237,000
Average % of listing price a property sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 35
Average sale price: $258,129
Median sale price: $255,000
Average % of listing price a property sold for: 97% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $320,635
Median sale price: $307,500
Average number of days it took to sell a property: 39 days
Average % of listing price a property sold for: 96% of asking price

Detached Homes
Number of properties sold: 146
Average sale price: $382,757
Median sale price: $389,000
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 62
Average sale price: $288,428
Median sale price: $295,650
Average % of listing price a property sold for: 97% of asking price

Condo Apartment
Number of properties sold: 19
Average sale price: $166,632
Median sale price: $175,000
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 19
Average sale price: $182,395
Median sale price: $175,000
Average % of listing price a property sold for: 96% of asking price

Attached/Row/Townhouse
Number of properties sold: 29
Average sale price: $272,625
Median sale price: $273,000
Average % of listing price a property sold for: 97% of asking price

Hi everyone.  I just picked up a listing for a gorgeous 2 bedroom + 1 solarium condo near Bramalea City Centre in Brampton.  The building is very well maintained, and comes with a host of amenities (including an exercise room, recreation room, sauna, tennis court, outdoor pool, and 24 hour concierge).  Being right across the street from the mall, it’s also a walk to the Go Bus, Brampton Transit, Chinguacousy Park, and literally a minute drive from Highway 410.

The condo itself features laminate hardwood in the combined living/dining room, an open concept kitchen with ceramic tiles, and a very bright and spacious solarium that can be used as a third bedroom or a home office.

If you’re interested in seeing this property or would like further details, please let me know!

March 2009

The real estate market showed very positive results for the month of March.  In comparison to March of last year, sales were only down 7% which represents the smallest year-to-year decline since the economy showed signs of trouble in the fall.  In fact, the average sale price in the GTA last month compared to March of 2008 was down less than only 5%.  The real estate market is showing strong signs of activity and is doing quite well in light of the economic downturn.

The average number of days it takes to sell a home in Brampton has also dropped.  Things are looking up!

In March of 2009, Brampton had 2,107 active listings on the market, 1,244 of which were new listings. There were 539 recorded sales in this month. Here is the break down according to areas in Brampton.

W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $296,365
Median sale price: $279,000
Average number of days it took to sell a property: 38 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 179
Average sale price: $336,280
Median sale price: $324,000
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 82
Average sale price: $270,242
Median sale price: $270,000
Average % of listing price a property sold for: 97% of asking price

Condo Apartment
Number of properties sold: 17
Average sale price: $186,171
Median sale price: $184,000
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 25
Average sale price: $215,040
Median sale price: $217,000
Average % of listing price a property sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 21
Average sale price: $245,514
Median sale price: $247,500
Average % of listing price a property sold for: 96% of asking price

W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $321,535
Median sale price: $302,000
Average number of days it took to sell a property: 37 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 111
Average sale price: $400,053
Median sale price: $380,000
Average % of listing price a property sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 34
Average sale price: $286,807
Median sale price: $299,000
Average % of listing price a property sold for: 97% of asking price

Condo Apartment
Number of properties sold: 23
Average sale price: $157,183
Median sale price: $150,200
Average % of listing price a property sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 21
Average sale price: $195,621
Median sale price: $198,000
Average % of listing price a property sold for: 96% of asking price

Attached/Row/Townhouse
Number of properties sold: 25
Average sale price: $277,120
Median sale price: $284,000
Average % of listing price a property sold for: 97% of asking price

If you’re still sitting on the fence regarding whether it’s a good time to buy or not, here are the latest rates that I can get for you.  Now is absolutely the time to pick up a pre-approval and lock in.  Remember, your pre-approval rate will be guaranteed for 90 days, so even if the rates go up in April as anticipated, you’ll still be able to use these rates when it comes time to buy a home.

Contact me if you’re interested in getting these rates.

1 year fixed: 3.25%

3 year fixed: 3.75%

4 year fixed: 3.69%

5 year fixed: 3.89%

** UPDATE **

The 5 year rate is now 3.80%

I‘ve been getting a lot of emails and inquiries regarding power of sales in Brampton.  The current market conditions have created an influx of power of sales listings, and it seems like many people are interested in looking for a bargain.  If you are interested in being included on my email list for power of sale listings in Brampton, please leave me a comment here with your price range and whether you are looking for a condo or a house, and I will set you up on the email list.

If you’re looking for power of sales in other areas of Toronto, leave me a comment with your criteria and let me see what I can do for you.