Was it the Weather... or Leap Year?
The stats for February just came out.
Home sales were down -15% compared to February 2012
The number of properties for sale (Inventory) was up +9.8%
Average days on the market were up from 24 - 28 days.
Prices up only +2.1% versus a year ago.
Well, actually last year was a leap year, so last February had an extra day. If you recalculate sales were down -10.5%
So it must have been the weather? Way more snow in February this year and much colder brrrr!!! How about both reasons!
So what does this mean?
We know that many sellers postponed putting their homes on the market due to the weather. I know this from all the photographers I speak to. Wait and see how many more homes come out in the next few weeks as we move to warmer temperatures and the snow begins to melt. More homes means less pressure on pricing and more opportunity for buyers.
For sellers, time is running out. Get on the market now, before there is more competition.
This does not mean a free ride for anyone. If a beautiful home comes out in your chosen neighbourhood, if you do not know about it, it will be gone before you get there.
To avoid this type of disappointment, join my Concierge Buying Service and be the first to know when you future home or condo becomes available. Join Here
Likewise if you have a home to sell, find out about my Concierge Selling Service. Follow this
This week's Featured Property
A Gorgeous Designer's own Custom Luxury 4 Bedroom home with Oasis back yard and in Law-suite in Central North York.
If you would like to have a buying or selling conversation, please contact me today to set up your no obligation consultation. firstname.lastname@example.org 416-410-9909 or Skype zanmolko
Enjoy this week's selection of homes & condos currently available and don't forget to visit www.TorontoMarketWatch.com to view all your personally selected homes and condos at your leisure. You can even save your favourites!