By Michael McCann
It seems that home buyers in the Birchcliff/Cliffside community are continuing to take a ‘wait and see’ approach.
This trend can be seen by comparing October 2011 sales (28 homes sold in our community) to the same time period this year when 19 homes were sold – a drop of 33%.
As I wrote last month, the new mortgage rules which came into effect in September, as well as reports of increased consumer debt loads, are impacting housing sales across GTA, leading to fewer neighbourhood sold signs.
Birch Cliff – Cliffside Home Sales in October 2012 – 19 homes sold
Source: Toronto Real Estate Board. Excludes commercial properties, condos and vacant land.
Looking forward to December, I see the Birchcliff/Cliffside statistics continuing to reflect the slowdown as the housing market takes its annual collective break for the Christmas holidays.
What I’ll be watching is whether we see a surge of buyers becoming active again in January 2013.
I’m a statistics person. I may have to pull out the crystal ball, however, to get some insight into the direction of the 2013 housing market, hopefully providing you with some clarity about what’s in store for Birchcliff/Cliffside.
[tabs slidertype=”top tabs”] [tabcontainer] [tabtext]September[/tabtext] [tabtext]August[/tabtext] [tabtext]July[/tabtext] [tabtext]June[/tabtext] [tabtext]May[/tabtext] [tabtext]April[/tabtext] [tabtext]March[/tabtext] [/tabcontainer] [tabcontent] [tab]Birch Cliff – Cliffside Home Sales in September 2012 – 19 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in August 2012 – 19 homes sold[/tab] [tab]Birch Cliff – Cliffside Home Sales in July 2012 – 23 homes sold[/tab] [tab]Birch Cliff – Cliffside Home Sales in June 2012 – 29 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in May 2012 – 28 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in April 2012 – 42 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in March 2012 – 29 homes sold [/tab] [/tabcontent] [/tabs]
According to the Toronto Real Estate Board, our local housing market is defined as Birch Cliff/Cliffside and the boundaries can be seen below.
View Birch Cliff / Cliffside in a larger map
