I am realtor from Toronto. I try to monitor the current house prices from dozens canadian areas. However me and some my colleagues donīt understand a topical process into real estate markets. It seems to me house price here didnīt fall much during the recession, on the other hand, they are booming again!

Dou you understand this process with house prices at the moment? What are your opinions on this fact?

Thank you for your posts and remarks.

My business activities are also the real estate, especially in Toronto. It could be a true. On the contrary, I dontīt quite concur with the huge prices boom. We need to create something like local database with house prices.

[quote=gaia111]I am realtor from Toronto. I try to monitor the current house prices from dozens canadian areas. However me and some my colleagues donīt understand a topical process into real estate markets. It seems to me house price here didnīt fall much during the recession, on the other hand, they are booming again!

Dou you understand this process with house prices at the moment? What are your opinions on this fact?

Thank you for your posts and remarks. [/quote]

Hi ILT, nice opinion. Are you thinking something like this database? You can check it.
http://juliekinnear.com/toronto-real-estate-market-statistics

Are you sure you guys are REALTORS? I would suggest you check out all the tools your MLS board provides you. I know that my board crunches the numbers every month and publishes house market statisics.

I crunch my own numbers all the time and can do it in any market at any time to be able to see if prices will be going up, sideways or down. It is what economist do for the Real Estate associations. It is just simple math to figure out the monthly Sales to listing ratio. In any city or town or wherever you need to know the total number of active homes or lots or whatever you want...condos. Then you need to know how many sales per month.

An example is let say there were 100 active listing and in the last 30 days you have 25 sales you would have a ratio of 25% S/L.

The basic rule is if your are over 25% the market prices will go up if you are below 10% prices will be going down.

It's not rocket science.

Properties is very resistance to general economic condition because houses is a basic need for us, thus nor matter how severe the condition out there, we need a place to stay & sleep!

This is a very good topic.
From a lot research I have done particularly in the Guelph / Hamilton / and general surrounding area there doesn't seem to be a over-all driving factor for the housing costs. People are not making any more money at work, cost of living is always going up, fuel is always going up and yet people are still going out and buying $350,000 homes. There are townhouses that are on the market for $290 & $300 thousand. I see this and think who in their right mind would buy a townhouse for that much, and then it sells.... From a lot of reading I'm doing people in T.O. are sprawling out from T.o and for what a condo sells there, they are able to buy a townhouse somewhere else thus driving up the price for everyone else. With that being said I'm saying that everyone working in T.O. is rich but that seems to be where the money is coming from. As for the housing market itself it will reach a peak and 'pop' because really who can afford to that keep that $350,000 mortgage at 5% + $2.00\L fuel + rising cost of food + rising cost of home ownership = Foreclosure! (remember no one is making any more money at work) The real question would be when is this going to happen??

Saskatchewan and especially Saskatoon are booming. Our economy is growing at incredible rates though, there's a lot of immigration and our natural resources continue to be explored with new mines built and companies coming into the province.

Average house price ???

How about "Average weight of fruit"

How about "Average height of trees"

Houses are different, people are different.

Will a buyer (if they're able) pay a premium to get the house they want ? Or will a seller discount his price for a quick sale if he has the motivation ?

Is there any way to know when, or if either of those things happened ?

Would both not impact the results ?

I submit that considering "average" price is a poor foundation for conversations about value.

Just sayin ...... cheers

CanaDave