Category Archives: Muddy York Quick Tip

Muddy York Quick Tip: What is the Allowable Ontario Rent Increase for 2009?

Posted on July 12, 2009 | 1 Comment

The allowable Ontario annual rent increase guideline for 2009 is set at 1.8%. The allowable rent increase in 2008 was set at 1.4%. To view a schedule of past allowable rent  increases, just visit  www.ontariotenants.ca/research/rent-increase.phtml.

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Muddy York Update – TREB Market Update – June 2009

Posted on July 7, 2009 | Leave a comment

trebThe Toronto Real Estate Board released the June 2009 statistics for the GTA and it is the BEST JUNE ON RECORD.

The number of sales for the month of June was 10,955 in the GTA compared to 8,600 in June of 2008, representing a 27% increase.

The number of days on the market decreased from 34 in 2008 to 33 in 2009.

In the Central District of Toronto in June 2009, the average price was $518,423 and the median price was $379,900.  The average percent to list came in at 98%.  The average number of days on the market was 29 days compared to the GTA average of 33 days.

Overall, over $1,062 Million worth of real estate traded in the central core of Toronto during the month of June.

Source:  The Toronto Real Estate Board

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Muddy York Update – TREB Market Update – Mid June 2009

Posted on June 28, 2009 | Leave a comment

trebThe Toronto Real Estate Board released the mid June 2009 statistics for the Greater Toronto Area.  The number of sales to date was 5,185 in the first half of the month compared to 4,374 in mid-June of 2008.   The average price for the GTA was $398,542 mid-May of last year compared to $407,716 this year.

In the Central District of Toronto, the average price was $449,946 compared to $439,469 last year.  The number of sales to date was 2,023 compared to 1,733 in mid-May of 2008.

Source: Toronto Real Estate Board

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Muddy York Quick Tip: # of Registrants in Ontario

Posted on June 9, 2009 | Leave a comment

There are currently 56,548 registered brokerages, brokers and salespersons in Ontario

Source:  RECO

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Muddy York Update – TREB Market Update – May 2009

Posted on June 8, 2009 | Leave a comment

trebThe Toronto Real Estate Board released the May 2009 statistics for the GTA. 

The number of sales for the month of May was 9,589 in the GTA compared to 9,411 in May of 2008, representing a 2% increase.

The number of days on the market increased from 31 in 2008 to 35 in 2009.

In the Central District of Toronto in May 2009, the average price was $510,325 and the median price was $364,000.  The average percent to list came in at 98%.  The average number of days on the market was 31 days compared to the GTA average of 35 days.

Overall, over $892 Million worth of real estate traded in the central core of Toronto during the month of May.

Source:  The Toronto Real Estate Board – Market Watch

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Muddy York Update – TREB Market Update – Mid May 2009

Posted on May 27, 2009 | Leave a comment

trebThe Toronto Real Estate Board released the mid May 2009 statistics for the Greater Toronto Area.  The number of sales to date was 4,561 in the first half of the month compared to 4,422 in mid-May of 2008.   The average price for the GTA was $400,817 mid-May of last year compared to $399,811 this year.

In the Central District of Toronto, the average price was $439,459 compared to $437,205 last year.  The number of sales to date was 1,864 compared to 1,734 in mid-May of 2008.

Source: Toronto Real Estate Board

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Muddy York Update – TREB Market Update – April 2009

Posted on May 13, 2009 | Leave a comment

The Toronto Real Estate Board released the April 2009 statistics for the GTA.  treb

The number of sales for the month of April was 8,107 in the GTA compared to 8,762 in April of 2008, representing a 7% decline.

The number of days on the market increased from 27 in 2008 to 37 in 2009.

In the Central District of Toronto in April 2009, the average price was $493,103 and the median price was $359,950.  The average percent to list came in at 97%.  The average number of days on the market was 33 days compared to the GTA average of 37 days.

Overall, over $737.6 Million worth of real estate traded in the central core of Toronto during the month of April.

Source:  The Toronto Real Estate Board – Market Watch

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Muddy York Quick Tip: How are Competing Offers Handled?

Posted on May 5, 2009 | Leave a comment

If a broker or salesperson is working for the seller of a property and they are notified that more than one offer has been registered, they must disclose the existence of the other offers to the brokers or salespeople representing the buyers.reco

The agent representing the seller must not disclose the contents of the offers to the other parties making the offers. They must disclose the number of competing offers that they have registered.  The offers must in also writing according to contact law.  This requirement was created to insure transparency when competing offers occur.

This requirement is found in REBBA 2002 Code of Ethics.

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Muddy York Update: B.of.C Cuts Overnight Rate by 25 Basis Points

Posted on April 21, 2009 | Leave a comment

The Bank of Canada cut the target for the overnight rate by 25 basis points to 0.25%.  The Bank also committed to keeping this rate structure until the end of the second quarter of 2010 in an effort to ensure that the inflation rate gravitates back to the 2% target over the medium-term.

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Posted in General Information, Mortgage Information, Muddy York Quick Tip

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