In November 2012, the Canadian Broadcasting Corporation (CBC) listed the five best cities for home sellers in Ontario.
FamilyLending.ca describes the seller’s market as a period when multiple buyers compete for limited housing, resulting in higher prices. According to members of the Canadian Real Estate Association (CREA), prices in certain areas continue to rise and listings stay on the market approximately 45 days before closing. Sellers reign supreme in the following Ontario locales as of February 2013.
CREA data explains that 2013 listing prices were 6.1% higher than 2012 amounts and homes remained on the market between 53 and 55 days before closing. The average listing price was $369,201 as of November 2012.
Centrally located in southern Ontario, plenty of employment opportunities and leisure opportunities exist within the city limits. In 2012, Hamilton-Burlington ranked number two on MoneySense magazine’s list of best places to live in Canada.
2- St. Catharines
Data compiled by the Canada Mortgage and Housing Corporation (CMHC) found that St. Catharines home listings were down by almost 4% in the spring of 2012 when compared with the previous year.
Listing prices rose by 2%, averaging approximately $227,973. Schools including the McMaster University School of Medicine and Concordia Lutheran Theological Seminary attract students from around the world. According to the CMHC, the area suffers from housing shortages that affect lower income residents.
CREA data revealed a home selling resurgence in Sudbury as of January 2013. Plummeting home sales in December 2012 gave way to a 27% increase the following month. The average listing price in January 2013 was approximately $235,665, a 2% increase from listings the previous year.
Local postsecondary institutions include the Northern Ontario School of Medicine and Cambrian College of arts and technology.
4- Thunder Bay
The amount of 2012 real estate listings for Thunder Bay in Northwest Ontario increased by over 4% compared to 2011 numbers. The average listing price was approximately $184,000, a 9% increase over the previous year.
According to the CMHC, increased mining activity, medical research and educational facilities create greater housing demand. Slightly smaller than Sudbury, Thunder Bay hosts an array of cultural centers and historical attractions like Fort William Historical Park.
Local residents enjoy multiple post-secondary educational facilities, museums and live performances at their doorstep.
The amount of 2012 real estate listings for Windsor, Ontario increased by almost 3% compared to the previous year. The average listing price in 2012 was approximately $173,000, a 4% increase from 2011. Experts at CMHC expect recent construction projects to generate more prospective buyers.
Low crime rates, the University of Windsor and a number of tourist attractions bring visitors to Windsor. Multiple green spaces helped the city earn its nickname as “The City of Roses.”
If you plan on buying or selling a home in Canada, visit ComFree.com today.
Garrison Wheeler is a freelance writer who focuses on real estate, condos and apartments, market trends, finance and the economy, and other similar topics. Readers interested in apartments may want to view Richland Apts Photos.