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Why are the months of January and February 2007 a good time to sell my home?

The reason that January and February are good months to sell your home or property is because the competition is far lower compared to other times of the year.  This means that you may be able to set your asking price at a healthy amount and since there is so little competition, you may find that you receive a good offer under your terms and conditions.

See the graph below showing the number of active listings is at it's lowest amount of the year.  Also listings to sales ratios at the chart below and note that the number of listings is down.

active listings

Prices are at historic levels, good time to sell, see the graph below

average prices from 1997 to 2007

Time on the market is shown on this graph and you will note that in January and February the days on the market plummets, meaning that it's still a good time of year to sell.

days on market

Sales to active listings also increases dramatically in January and February

sales to active listings ratio

See a graph of the average prices over the past 15 years.

Graph of TREB Prices


The average single family residential price increased the following amounts in the past few years

Year
Average % Price Increase
Average Price
2006
5
350,645
2005
7
334,994
2004
7
314,427
2003
7
293,358
2002
10
275,371
2001
4
250,689
2000
6
241,412
1999
5
228,372
1998
3
216,815
1997
7
211,307
1996
-2
198,150

The table above shows that prices have increased steadily since 1997, nearly 10 years of unprecedented growth.  These figures give an overall trend of the average prices of single family residential prices in the Toronto and GTA marketplace.

Of note is the fact that although the central core prices of real estate have escalated at a much higher rate than the values above.  TREB (the Toronto Real Estate Board) has continued it's expansion of MLS boundaries and therefore the average prices above take into account cities and towns that are much further out from the core that have much lower average prices compared to the city core.  This shows how great of an impact the high prices in the central city have on the overall price.  I don't know exactly how many kilometers of outward growth that TREB experienced over the past 10 years, but I would guess that at least tens of thousands of new properties have been taken into account when calculating the year over year figures.

If prices from 2007 for the next 5 years were to increase at an annual rate of 4% then the average price would be over $460,000 in 2013.  The graph below shows this estimated price increase.

Average TREB price estimate from 2007 to 2013 at 4% per year average incrase

Below is a Graph showing TREB Historical Average Price Data

Click this graph to see large graph of TREB Average prices for Toronto and Mississauga, Single Family Homes - Mark Argentino Real Estate Toronto mississauga, Realtor, Real Estate Agent, Broker,Buyers Representative

See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!

See how the historical 1 year mortgage interest rate compares to the 5 year rate

Average Price report for 2006

Average Price report for 2005

Average Price report for 2004

Mississauga District Prices

Archived issues of my TREB Market Watch reports
 

 

This information is taken from the TREB (Toronto Real Estate Board) average price figures that are published on a monthly basis for members like myself.

I hope you have enjoyed reading this page.

If you have any

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April 9, '51 data 2002 

Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale  | All Pages including Mississauga Real Estate Blog all maintained by info@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434  Google  First created - Tuesday, July 16th, 1996 at 3:48:41 PM - Last Update of this website: Monday, January 15, 2018 8:24 PM
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