Saturday, December 5, 2015

■Market Watch-December, 2015

Record Sales in November 2015

December 3, 2015 -- Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,385 home sales through TREB's MLS® System in November 2015 – up by 14 per cent compared to November 2014. This result also represented the best result on record for the month of November. Sales through the first eleven months of 2015 amounted to 96,401.

"Not only did we see a record sales result for November, but with one month left to go in 2015, we have already set a new calendar year record for home sales in the TREB market area, eclipsing the previous record set in 2007. Sales were up on a year-over-year basis for all major home types, both in the City of Toronto and surrounding regions. This suggests that the demand for ownership housing is widespread, from first-time buyers to long-time homeowners across the GTA," said Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in November. The average selling price for all transactions was also up by a similar annual rate of 9.6 per cent to $632,685. Annual rates of average price growth for November and the first eleven months of 2015 were similar, with the strongest rates of increase being reported for low-rise home types, including detached and semi-detached houses and townhouses.

"Demand for ownership housing has remained strong in the GTA throughout 2015, with sales generally increasing at a greater annual rate compared to new listings. This means that competition between buyers has strengthened in many neighbourhoods in the City of Toronto and surrounding regions. The end result has been upward pressure on home prices well above the rate of inflation in most cases," said Jason Mercer, TREB's Director of Market Analysis.

Sunday, November 8, 2015

■Market Watch-November, 2015

Record Home Sales for October

November 5, 2015
 -- Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 8,804 home sales through TREB's MLS® System in October 2015. This is the best result on record for the month of October.

"It is clear that many GTA households remain upbeat about home ownership because owning a home represents a high quality, long-term investment. We will see a big, new record this year for home sales reported through TREB's MLS® System," said Mr. McLean.

"Despite the record October result, I must point out that the Government of Ontario could hamper home sales in the near future. The Wynne government is seriously considering allowing municipalities throughout Ontario to institute a second land transfer tax on top of the existing provincial tax. Recent polling has shown that the great majority of Ontarians oppose this tax and would consider delaying a move if they were forced to bear the additional upfront cost," added Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in October. Over the same period, the average selling price for all home types combined was up by 7.3 per cent to $630,876. Price growth continued to be driven by the low-rise market segments.

"Record sales coupled with a constrained supply of listings in many GTA neighbourhoods has underpinned very strong price growth throughout 2015. Even if we do see a greater supply of low-rise listings in the marketplace over the next year, market conditions will remain tight enough to see continued price growth well-above the rate of inflation," said Jason Mercer, TREB's Director of Market Analysis.

Monday, October 26, 2015

■MINTO’s New Project “B SIDE” at Front + Bathurst

Visually striking. Elegantly urbane. Minto Westside is a stunning new landmark for the city. Redefining the intersection of Bathurst and Front, the iconic 18 and 20-storey buildings pay homage to one of Toronto's original warehouse districts by reinterpreting the architectural style of the area's heritage buildings.

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-Receive $25,000 towards your brand new NISSAN LEAF or a NISSAN Car of your choice

or

-$25,000 Credit on closing

Contact Me @416.875.0561 for More Information.

Source:
www.minto.com/gta/new-condos/West-side/main.html





Thursday, October 15, 2015

■Market Watch-October, 2015

Record Home Sales in September 2015

October 5, 2015
 -- Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported a record number of transactions for the month of September through TREB's MLS® System. There was a combined 8,200 home sales reported for September 2015. This result was up 2.5 per cent compared to September 2014.

TREB MLS® sales through the first nine months of 2015 amounted to 80,331, which also represented a record result and a 9.5 per cent increase compared to the first three quarters of 2014.

"We are on track for record home sales reported through TREB's MLS® System this year. Barring a drastic shift in the economy over the next three months, total transactions reported by TREB Members in 2015 are expected to be at or near the 100,000 mark. This is a testament to the importance that GTA households put on home ownership as a long-term investment," said Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 10.5 per cent year over year. The average selling price for all home types combined was also up by 9.2 per cent annually to $627,395. Growth in the MLS® HPI Composite Benchmark and the average price was driven by the low-rise market segments, including detached and semidetached houses and townhouses.

"While September was the second straight month where annual growth in new listings outstripped annual growth sales, total active listings at the end of the month still remained below last year's level. This, coupled with the record pace of sales experienced so far this year, suggests that competition between buyers will remain strong as we move into the fourth quarter. Expect strong rates of price growth to continue through the remainder of 2015 and into 2016," said Jason Mercer, TREB's Director of Market Analysis.

Monday, September 28, 2015

■JUST SOLD OVER ASKING_14 Main Street Toronto


Original & Tranquil. This fully brick detached home with three bedrooms in the Upper Beaches awaits your personal touch! It has loads of potential and tremendous natural light overlooking Glen Davis Ravine. Close to TTC and Go Train stations with easy access to the city’s core. Enjoy a family friendly neighbourhood with great schools as well as parks, cafes and restaurants nearby. Walking distance to the Lake.


For Sale: $649,900






MLS: E3322684




Saturday, September 12, 2015

■Market Watch-September, 2015

Sales and Average Price Up in August

September 4, 2015 -- Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015. This result represented a 5.7 per cent increase compared to 7,568 sales reported in August 2014. On a GTA-wide basis, sales were up for all major home types.

The annual growth rate in new listings was greater than the annual growth rate in sales, but active listings at the end of August were still down compared to last year. This suggests that sellers' market conditions remained in place, especially where low-rise home types like singles, semis and townhouses were concerned.

"Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term. They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community," said Mr. McLean.

Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling price for all home types combined were up substantially in August compared to the same period in 2014, with both increasing by approximately 10 per cent year-over-year.

"A record year for home sales continued to unfold in August as competition between buyers exerted upward pressure on selling prices. It was encouraging to see annual growth in new listings outstrip annual growth in sales, but we will need to see this for a number of months before market conditions become more balanced," said Jason Mercer, TREB's Director of Market Analysis.

Monday, August 10, 2015

■Market Watch-August, 2015

New Record for July Home Sales

August 6, 2015 -- Toronto Real Estate Board President Mark McLean announced record home sales for the month of July. Greater Toronto Area REALTORS® reported 9,880 sales through TREB's MLS® System, representing an eight per cent increase compared to July 2014. The number of transactions were up for all major home types, including a double digit year-over-year increase in condominium apartment sales.

"As we move towards a new record for home sales this year, it is important to point out that home ownership demand has been driven not only by low borrowing costs, but also by the fact that the GTA economy has been performing quite well, with the unemployment rate lower compared to last year. Home buyers remain confident in the long-term benefits of owning a home," said Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark, which accounts for benchmark home prices in communities throughout the TREB market area, was up by 9.4 per cent year over- year in July 2015. Over the same period, the average selling price was up by a slightly greater amount, growing by 10.6 per cent annually to $609,236.

Detached homes continued to lead the way in terms of price increases, with annual growth in the average selling price outstripping growth in the MLS® HPI detached benchmark. This suggests that there continued to be a greater share of high-end homes sold this year compared to last.

"With the level of inventory in the GTA trending below two months, many listings continued to generate a lot of interest from buyers. Not surprisingly, this supported further price increases well-above the rate of inflation. Assuming similar interest rate and economic environments over the next five months, strong price growth will remain the norm for the rest of 2015," said Jason Mercer, TREB's Director of Market Analysis.

Tuesday, July 7, 2015

■Market Watch-July, 2015

Record Sales and Strong Price Growth in June

July 7, 2015
 -- Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 11,992 sales through TREB’s MLS® System in June 2015. This result represented a new record for the month of June and an 18.4 per cent increase over the June 2014 result of 10,132.

“As I begin my term as TREB President, I think it is important to point out that our region continues to grow in response to our diverse economic, ethnic and cultural bases. The GTA consistently receives international accolades as one of the best places in the world to live and do business. As the number of households grow, many of them will take advantage of the diversity of affordable home ownership opportunities that exist in Toronto and the surrounding areas,” said Mr. McLean.

Selling prices were up markedly on a year-over-year basis in June, for all major home types. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent in comparison to June 2014. The average selling price was up by 12.3 per cent over the same period to $639,184.

High-end homes have accounted for a greater share of overall transactions this year compared to last year. This is the key reason why the average selling price has increased at a greater annual rate than the MLS® HPI Composite Benchmark.

“It is encouraging to see that new listings have edged upward so far this year, as homeowners have reacted to strong home price growth and have looked to take advantage of increased equity in their homes. However, the annual rate of sales growth continues to far outstrip listings growth, which means that there remains a lot of willing buyers in the marketplace who haven’t found a home that meets their needs. As long as this situation persists, expect home prices to trend strongly upward,” said Jason Mercer, TREB’s Director of Market Analysis.

Friday, June 5, 2015

■Market Watch-June, 2015

A New Sales Record for the Month of May

June 3, 2015 -- Toronto Real Estate Board President Paul Etherington announced 11,706 sales reported by Greater Toronto REALTORS® in May 2015. This result was up by 6.3 per cent in comparison to 11,013 sales reported in May 2014. For the TREB market area as a whole, sales were up for all major housing types. However, in the City of Toronto, where the supply of low-rise listings has been constrained, sales were down for detached homes.

“During my tenure as TREB President over the past year, it is clear to me that ownership housing remains top of mind as a quality long-term investment for GTA households. This is why, despite a shortage of listings in some market segments, we experienced a record number of sales reported through TREB’s MLS® System for the month of May,” said Mr. Etherington.

Record May transactions, coupled with a dip in the number of homes available for sale, resulted in strong price growth. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent year over year in May. The MLS® HPI uses benchmark homes to estimate price growth. This allows for an “apples to apples” comparison of price growth that is not affected by changes in the mix of sales activity.

The average selling price for all home types combined in May 2015 was up by 11 per cent annually to $649,599. The higher annual rate of average price growth compared to the MLS® HPI Composite Benchmark points to the fact that the proportion of high-end home sales continued to be greater compared to 2014.

“Tight market conditions, especially for singles, semis and town homes in the GTA, have resulted in strong price growth regardless of the price metric being considered. With no relief so far on the listings front, expect similar rates of price growth as we move through the remainder of 2015. At this point, a number of months where listings growth outstrips sales growth would be required to satisfy pent-up demand,” said Jason Mercer, TREB’s Director of Market Analysis.

Friday, May 29, 2015

■Just Listed_108-3 Everson Dr.

Luxurious & Elegant 1+1 Condo Townhouse steps from TTC/Avondale Park and easy access from Hwy 401. Very walkable and rider's paradise! South facing unit has upgraded kitchen cabinets & countertop with one parking space conveniently located close to the unit. Professionally decorated Living Room has a large oversized window and is combined with a sophisticated Dining Room. Spacious Master Bedroom on the second floor is sun filled throughout the day.

For Sale: $334,000

Open House: Saturday & Sunday (June 6 & 7, 2015) 1-4p.m.

MLS:
C3213421



Friday, May 22, 2015

■Market Watch-May, 2015

Record Sales in April 2015


May 5, 2015
 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 11,303 sales in April 2015. This was the highest sales result on record for the month of April and represented a 17 per cent increase in comparison to April 2014. While sales increased strongly on a year-over-year basis, new listings were up over the same period by a more moderate five per cent.

“The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality, long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types. Firsttime buyers and existing homeowners remain very active in today’s market,” said Mr.Etherington.

The overall average selling price, which accounts for all homes reported sold by GTA REALTORS® in April 2015, was up by 10 per cent year-over-year to $635,932. The MLS® Home Price Index (HPI) Composite Benchmark, which estimates the price of a benchmark home with the same attributes from one period to the next, was up by 8.4 per cent over the same period. The fact that average price growth outpaced growth for the MLS® HPI Composite Benchmark, suggests that a greater share of higher-end homes changed hands this year compared to last.

Irrespective of the indicator used, price growth in the GTA was strongest for low-rise home types. However, the better supplied condominium apartment segment also remained healthy with price growth above the rate of inflation.

“Demand for ownership housing was very high relative to the number of homes available for sale in April. This situation is not expected to change markedly as we move through the remainder of 2015. Until we experience a sustained period in which listings grow at a faster pace than sales, annual rates of home price growth will remain strong,” said Jason Mercer, TREB’s Director of Market Analysis.

Monday, May 18, 2015

■Rain Gardens Workshop


Let’s learn about “Rain Gardens”! This workshop will be presented in partnership with the David Suzuki Foundation Homegrown National Park Rangers and will feature the Rain Gardens of Danforth Village. 

Hope to see you there!

Date: Thursday This Week (May 21, 2015)
Time: 7p.m. to 8:30p.m.
Location: Kimbourne Park United Church (200 Wolverleigh Blvd)


Please register from the link below:





Tuesday, April 7, 2015

■Market Watch-April, 2015

Sales and Price Up Year-Over-Year in March 2015

April 7, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 8,940 sales in March 2015. This result represented an 11 per cent increase compared to March 2014. Sales were up for most major home types, both in the City of Toronto and the surrounding regions. New listings were also up, but by a lesser 5.5 per cent, indicating tighter market conditions.

“Home sales increased compared to last year as the cost of home ownership remained affordable, with lower interest rates going a long way to mitigate the effect of rising home prices. However, a substantial amount of pent-up demand remains in place, especially as it relates to low-rise market segments. This suggests that strong competition between buyers, which has fuelled strong price growth so far this year, will continue to be experienced throughout the spring,” said Mr. Etherington.

In March, the average selling price for all reported transactions was $613,933 – up 10 per cent year-over-year. The MLS® HPI Composite Index, which tracks benchmark homes with the same attributes from one period to the next, was up by 7.9 per cent. Average price growth was strongest for detached homes in the City of Toronto, at 15.9 per cent. Over the same period the detached MLS® HPI in the '416' area code increased 7.8 per cent.

The MLS® HPI provides a clear indication of price growth due to market forces - the relationship between demand and supply. Comparing MLS® HPI growth to average price growth provides a sense of the changing mix of home types sold from one period to the next.

"It is clear that seller's market conditions in many parts of the GTA are driving price growth. However, looking at the detached market segment in the City of Toronto in particular, growth in the average selling price outstripped growth in the MLS® HPI. This points to the fact that the mix of detached homes sold this year compared to last has shifted towards more expensive properties," said Jason Mercer, TREB's Director of Market Analysis.

Wednesday, March 11, 2015

■Just Listed_109-3 Everson Dr.

For Sale: $333,900

Fresh & Vibrant 1+1 Condo Townhouse Steps from TTC and Easy Access from Hwy 401. Very walkable and Rider’s paradise! One of the brightest units in the complex with one parking and locker. Professionally decorated living room has a large oversized window and is combined with a contemporary dining room. Elegantly designed master bedroom on the second floor has a partial view of Avondale Park. Enjoy BBQ and Gardening in private terrace! See virtual tour and floor plan.

Virtual Tour

Open House:
Tomorrow (March 12, 2015) 11-1p.m. & 5-7p.m.
Saturday & Sunday (March 14 & 15, 2015) 1-4p.m.
MLS: C3134965

See you then!



Saturday, March 7, 2015

■Market Watch-March, 2015

Robust Sales and Price Growth in February

March 4, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 6,338 home sales through the TorontoMLS system in February 2015. This result represented a substantial 11.3 per cent year-over-year increase compared to February 2014. Large annual increases in transactions were noted for most major home types, in the City of Toronto and surrounding GTA regions.


“Even with the record low temperatures last month, we still saw an increase in the number of people purchasing homes in the GTA. This speaks to the importance households place on home ownership and the fact that buyers continue to view ownership housing as a quality long-term investment in which they can live,” said Mr. Etherington.

The overall supply of homes for sale, as measured by the count of active listings at the end of February 2015, was down by 8.7 per cent compared to the same count in February 2014. This means that market conditions became tighter, leading to more competition between buyers.

The overall average selling price for February 2015 home sales was $596,163– up by 7.8 per cent compared to the average for February 2014. Driving this increase was the detached market segment. In the City of Toronto, the average detached selling price moved above $1 million dollars for the first time in a calendar month.

“The strong year-over-year price growth we experienced in February points to the robust demand for ownership housing in the GTA, coupled with a constrained supply of homes for sale in some market segments, especially where low-rise home types like singles, semis and townhouses are concerned,” said Jason Mercer, TREB’s Director of Market Analysis.

■Just Listed_2 Lakehill Cres


Sold Over Asking!

For Sale: $849,900 

Open House: March 8, 2015 2-5p.m.

Golden opportunity on Cherished Lakehill Crescent in Cathedral Bluffs! 3+1 bungalow has 3,000+ Sq. Ft. of sun drenched living space!










Tuesday, March 3, 2015

■For Sale (Exclusive)_109-3 Everson Dr.


For Sale (Exclusive): $334,900

Open House: March 7 & 8 1-4p.m.


Fresh & Vibrant 1+1 Condo Townhouse Steps from TTC and Easy Access from Hwy 401. Very walkable and Rider’s paradise! One of the brightest units in the complex with one parking and locker. Professionally decorated living room has a large oversized window and is combined with a contemporary dining room. Elegantly designed master bedroom on the second floor has a partial view of Avondale Park. Enjoy BBQ and Gardening in private terrace! See virtual tour and floor plan.

Virtual Tour



See you there!








List Price: $334,900
Taxes: $2,053.34 (2014)
Possession Date: 30-60 Days/TBA
Maintenance: $473.71
Heat Exchange Equipment Rental: $34.18/mo
Approximate Square Footage: 800-899 (as per floor plan)
Included in Maintenance Costs: Heat, Hydro, Water, CAC, Common Elements, Parking and Locker

Friday, February 20, 2015

■Sold Over Asking_1 Lakehill Cres

1 Lakehill Cres sold over asking within 1 day after being on the market! This 4+1 property has seasonal views of lake and parkland with in ground salt water pool. Rare offering in Cliffcrest neighbourhood! Listing price was 1.1 mil.

Sold: $1.175,000













Monday, February 9, 2015

■Property on The Move

It’s a truism in Silicon Valley that technological disruption creates business value. Yet as many failed startups can attest, disruption does not automatically translate into success. Timing matters as much as disruption itself: many dotcom-bubble-era companies that went bankrupt, from grocery delivery to pet services, are today thriving businesses in different forms. Put simply, the right technology must combine with the right behaviour, sufficient scale and the right economics, at the right moment. In America’s property sector, that moment is now. As a ­result, in the coming year the industry will start assuming the shape it will take for the next decade, and a cascade of innovation should follow.


Property has value, but until recently the information that lets consumers understand and capture that value remained fragmented and opaque. With the surge in mobile technology, the increasing sophistication of big-data analytics and processing, and the beginnings of a new breed of property business, change is now happening. Millions of people are easily able to view information about homes, commutes and neighbourhoods, and over the past year most consumer engagement with the leading real-estate sites has started taking place on mobile platforms.

The property industry will have to respond to all this. Three big shifts are in prospect. First, we’re going to see completely different participants in the market on both sides of the transaction. A new generation of buyers and renters is already influencing the way people search for properties. They are more connected to mobile technology than even the early adopters of the past ten years. With 92% of consumers using the internet as part of their property search, the pervasiveness of mobile technology, with its extra dimensions of location and immediacy, will create new and valuable experiences. Starting in 2015, a new generation of brokers and agents will join the industry as well. They too will be attuned to the fact that mobile technology is essential to running their business.

Second, we’re going to see faster, less anxious, more informed decision-making. After years of research and experience, we know that buying a home is not just the largest financial decision most people make. It is also one of their lengthiest and most doubt-filled financial transactions. The decision to make a piece of property a home will always be unique to every person. But over the next decade more and more buyers and sellers will accept that they can quickly eliminate many of the adjacent uncertainties around that decision (regarding schools, crime, commutes, neighbourhoods, local services), thanks to the spread of online and mobile tools.

Eventually, this means that what we call the “messy middle”—the period between the waning of the buyer’s initial enthusiasm for a property and the moment they feel ready to buy it—will shrink. The average purchase cycle for a home is now 18-24 months. It will start to become shorter in 2015 and get closer to 12 months, or even less, over the next five years.

Third, as basic property information becomes ubiquitous, so service and branding will become essential differentiators for companies in the industry. You already see this in markets such as Britain and Australia.With home-buyers younger, tech-savvier, better informed and more decisive, real-estate professionals will get more creative in how they manage their relationships, provide insights and guide people through the process. The importance of personal attention and service remains paramount in property, so expect to see more agents investing time in building a comprehensive online presence, through increased use of social media and maintenance of detailed agent profiles, where they can demonstrate their experience and expertise to people everywhere, not just those they know in the neighbourhood. This emphasis on transparency should improve the level of service the industry offers.

Ripe for innovation
I have always believed that property—more than any other sector dependent on technology—needs to be treated as a two-sided marketplace. Because of the size and complexity of the transactions, the best real-estate technology, rather than eliminating the intermediary, should actually strengthen the role of professionals working in the industry, as well as improving the consumer experience. But this assumes that the professionals understand they are now fully exposed to a demanding consumer marketplace. The time is ripe for that understanding to bear fruit. Experts expect the housing market in 2015—both in the United States and globally—to see an increasing number of homes listed for sale and modestly growing demand. If so, the stable recovery is the perfect time for the industry to take risks in a connected marketplace that has finally achieved critical mass.

By: Pete Flint, chief executive, Trulia
Source: The Economist From The World In 2015 print edition