Toronto Real Estate Board: Home Sales Decrease Slightly In Mid-May 2013

Posted on May 17, 2013 | Leave a comment

According to the latest release from the Toronto Real Estate Board, during the first 14 days of May 2013, home sales through the TorontoMLS listings declined by 9.7 per cent to a total of 4,476 transactions compared to the same time period last year. Within the City of Toronto, declines were slightly higher on average at 11.4 per cent, but lower in surrounding areas at 8.6 per cent.

“Despite fewer sales this year compared to last, competition between buyers in most segments of the market remained strong enough to promote annual rates of price growth above the rate of inflation,” said the president of the Toronto Real Estate Board, Ann Hannah. “A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home.”

The average home selling price in Toronto increased by 5.4 per cent over the first two weeks of May this year to $543,838 compared to the first two weeks of May last year. Low-rise home types experienced the most price growth, while condos also experienced positive price growth in the City of Toronto.

“Continuing the prevailing trend over the last year, the low=rise segment of the market drove overall price growth during the first half of May, as months of inventory remained below historic norms for the key home types,” said Jason Mercer, the senior manager of Market Analysis for the Toronto Real Estate Board.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

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Posted in Before You Buy, Before You Sell, Market Information

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Toronto Condo Listing: Beautiful Suite At Avenue And St. Clair For $3.3M

Posted on May 13, 2013 | Leave a comment

Toronto Life Magazine has posted a beautiful showcase of a luxury condo listed by our very own Leslie Lyons and Jamie Sarner. Meet the Condo of the Week!

This is a two-bedroom suite at the Avenue, located on the 14th floor, priced at $3,260,000.

For more, visit the article here.

 

 

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Posted in Condominum Information, Listing

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Toronto Real Estate Board Releases Commercial Real Estate Market Stats

Posted on May 8, 2013 | Leave a comment

According to the Toronto Real Estate Board’s Commercial Division, there was a 7.3 per cent decline between April 2012 and April 2013 in the amount of commercial square footage leased, from 678,004 to 628,624.

“While the amount of leased space was down on a year-over-year basis in April, it was encouraging to see average lease rates up for all major property types,” said the Commercial Division Chair for the Toronto Real Estate Board, Cynthia Lai. “This suggests that demand was quite strong relative to the amount of space available for least last month.”

According to the TorontoMLS, there were 51 properties (combined office, retail and industrial) that were sold during the month of April with their pricing disclosed, a 21.5 per cent decrease. An increase in industrial sales partially outweighed a decline in retail/commercial property sales.

Lai continued, “We have seen the number and size of commercial leasing and sale transactions in the Greater Toronto Area hold up quite well in the face of continued economic uncertainty. While below average economic growth is forecast for the remainder of the first half of 2013, the Canadian economy is expected to expand at a brisker pace in the second half of this year. Look for commercial transactions to follow a similar trend.”

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

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Posted in Commercial and Industrial Real Estate

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New And Active Listings Increase In April 2013

Posted on May 6, 2013 | Leave a comment

According to the Toronto Real Estate Board, home sales in April 2013 through the Toronto MLS Listings have dipped by two per cent when compared to April of 2012, from 10,021 transactions to 9,811 transactions. However, new listings and active listings during the end of the month had increased.

“Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year,” said Ann Hannah, the president of the Toronto Real Estate Board, in a press release.

She continued, “It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy.”

In April of 2012, the average selling price was two per cent lower than it is now, which is $526,335. However, using an increase based on the MLS HPI Composite Benchmark Price, the average selling price has increased by 2.9 per cent.

“The condominium apartment segment in the City of Toronto was a key drive of price growth in April, with both the average selling price and the MLS HPI apartment index up on a year-over-year basis,” said the senior manager of market analysis for the Toronto Real Estate Board, Jason Mercer. “The improved condo sales picture, with Toronto sales down by only one per cent compared to last year, suggests that interest in condo ownership may be improving.”

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

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Research provides snapshot of REALTORS®

Posted on April 29, 2013 | Leave a comment

A new survey by the Ontario Real Estate Association (OREA) offers a snapshot of the association’s members across the province.
The research unit in the OREA marketing and communication department completed its annual survey to gain a better picture of the demographic and business profile of members. About 2,500 REALTORS® participated in the survey, which took place in 2012 with results compiled in the first quarter of this year.
“This research provides us with a fascinating glimpse of our membership,” says OREA president Phil Dorner. “It gives us a clearer picture of the people we serve so that we can continue to work hard to meet their needs.”
The association has enhanced its research capacity over the past year in order to guide decision-making processes, he adds. “Solid research provides us with evidence-based information which enables us to make better decisions and give our members what they need to succeed in business.”
The survey revealed the following from the respondents surveyed:

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Would You Support A Grow-Op Registry For Toronto Homes?

Posted on April 26, 2013 | Leave a comment

There’s currently a bill that has passed its first reading to establish a registry for homes in Ontario that have been used as drug laboratories or marijuana grow-ops. Such a bill would make it easier for home buyers and their real estate agents to learn more about the history of their home, particularly if the home has been used for a purpose that could render it unsafe.

In response, the Ontario Real Estate Association conducted a survey, finding that 93 per cent of Ontarians would want to know if their home had been used as a grow-op or a drug lab. In addition, 88 per cent would support an Ontario-wide registry.

“The prevalence of these homes in Ontario is frankly quite alarming,” said a member of the Ontario Real Estate Association’s Board of Directors. “Realtors want to be able to warn their clients as early in the purchasing process as possible. We urge the Legislature to pass this bill in order to protect homebuyers.”

According to the poll, 24 per cent of Ontario residents know of homes in their neighbourhoods that have been used as grow-ops.

Grow-ops and drug lab homes can present serious challenges for home buyers who later purchase them, because they can be riddled with toxic mould, chemical residue or even have hazardous re-wiring.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

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Posted in Before You Buy

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What’s At The Top Of Ontario Home Sellers’ Minds?

Posted on April 24, 2013 | Leave a comment

A recent Ontario Real Estate Association survey shows that when selling a home, 61 per cent of sellers are most concerned about the legal documentation involved, the top-rated concern amongst Ontario home sellers after the real estate market itself.

Fixing up a home before selling comes in at a close second with 60 per cent, and in third place is the number of days on the market a home will have before it finally sells at 59 per cent.

Six per cent more men felt a sense of inconvenience when selling a home, but five per cent more women felt that fixing up a home was a major concern.

“It seems homeowners are just as concerned with the home selling process and the documents involved as they are with the thought of preparing their home for sale, which isn’t surprising as there’s a lot to consider with this step,” said Ontario Real Estate Association president Ron Abraham. “Realtors can quite quickly and easily identify areas in a home that require repairs or touch-ups or alternatively can advise against certain renovations if the return on investment isn’t there. Ultimately, homeowners want to show their home in its best light to help make for a smooth negotiation phase and sale.”

If you want to sell your home or have questions about the home selling process, contact a real estate agent. They have the expertise to help you in the best way possible!

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

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