Comparing Apples to Apples: September Price Increase Reports

Earlier this week, the National Post reported the statistics from the Toronto Real Estate Board.

 I was not too surprised by what was written.  We had received the statistics earlier.  I was taken back by one thing I read that I hadn’t paid too much attention too.

In North Pickering, which covers the area North of Taunton in Ajax-Watch for rising pricesPickering, including Claremont, but not Unxbridge.  The average price of the sales in September 2008 was $327,125.  The average price for September 2009 was $770,500–-more than double.

As a realtor, my first thought is sell if you live in North Pickering, but a closer look at the statistics shows that there might not have been a price increase at all.

In September 2008, there were 4 sales.  The lowest sale was a 2 bedroom, one bath home for $221,450.  The highest sale was $469,500 for a 4 bedroom, 2 bath home.

In September 2009, there were 7 sales.  Two sales were vacant land for around $300,000.  There were 4 sales of homes over $700,000, the highest being $980,000 for a 4 + 2 bedroom, 4 bath home. 

There were no homes sold in either month that you could compare to each other to say that the prices have risen that much.  Only when you look at comparable homes can you more accurately talk about price increases.

There are many wonderful reasons to live in North Pickering, sky rocketing prices is not one of them.