Following national news and national trends can be deceiving when it comes to the local market. You need to know what is happening in the Pickering market to decide if the time is right for you to sell or buy.
What's happening in Pickering?
The Toronto Real Estate divides the city of Pickering into two areas with the 401 being the dividing line.
In South Pickering, the 14 sales in November had an average price of $307,571. Now 14 sales doesn't really make a real estate market or a trend.
In fact for average price, a number of factors could come into play. For example, one or two $150,000 condos or one $800,000 home could pull the average up or down.
The year to date average price for this mature area of Pickering is $289,306 which is about 3.5% over the prices for 2006.
In the rest of Pickering, there were 85 sales which had an average price of $293,797 which is up almost 9% over November 2006.
The average price for all of 2007 is also up about 9% over the prices for 2006.