Varun Mathur

Report Mid-Month Resale Housing Figures For July 2010

2010-07-19T20:34:00Z

TREB reported 2,790 sales through the Multiple Listing Service® (MLS®) during the first two weeks of July 2010. This represented a 37 per cent decrease compared to the 4,437 sales recorded during the same period in 2009. New listings decreased by eight per cent annually to 5,184. “Last summer existing home sales spiked well above the expected long-term trend. Sales were also unseasonably high during the first four months of this year transactions will be down yearover-year in the second half of 2010 as the level of sales balances out.

With year-to-date sales up by more than 18 per cent compared to last year, we continue to look forward to one of the best years on record under the current TREBtrading area. The average price for July mid-month transactions was $427,931 – up eight per ent compared to the average of $394,750 recorded during the first 14 days of July 2009.

“The average home selling price in the GTA will continue to grow on an annual basis in the second half,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.“Even with the pace of transactions slowing, there will be enough sales relative to

listings to support sustainable rates of price growth.”

Stellar month for High Rise sales in March

2010-04-28T11:33:00Z

Stellar month for High Rise sales in March High Rise sales for March totaled 2,483 units, making it the third highest monthly High Rise total in the past decade - trailing only June 2007 and July 2007. Once again, a driving factor behind the strong sales was the performance of new project openings. There were ten new project launches in March which accounted for 35% of the sales. Sales for Low Rise product in March was 1,961 units, which is the best total for the month of March since 2005.

Dramatic rebound characterizes Canada's luxury home segment in 2010

2010-04-26T13:57:00Z

Luxury home sales soared in the first quarter of 2010 as affluent purchasers moved to take advantage of favourable market conditions across the country, according to a report released today by RE/MAX.

The RE/MAX Upper End 2010 Report, highlighting sales and trends in 13 major Canadian centres and five sub-markets, found that improved economic performance, increased personal wealth, immigration and foreign investment all contributed to a serious upswing in sales. Virtually all areas experienced double and triple-digit increases between January and March of this year over 2009 figures for the same period. Nine out of the 13 markets examined (69 per cent) shattered existing records - setting new all-time highs for first quarter activity in the upper end.

"Real estate continues to resonate with purchasers at every price point, with the top end of the market shifting into high gear, every segment of the residential real estate sector is now operating in tandem. Despite the upward momentum, there are still deals to be had - especially at the higher price points-a fact that is motivating buyers to act."

4601 Sales In First Two weeks Of April 2010

2010-04-19T16:16:00Z

4,601 sales through the Multiple Listing Service® (MLS®) during the first two weeks of April

Greater Toronto REALTORS® reported 4,601 sales through the Multiple Listing Service® (MLS®) during the first two weeks of April.

This represented a 25 per cent increase compared to the 3,681 sales recorded during the

same period in 2009. New listings increased by 48 per cent annually to 9,512.

“The fact that annual growth in new listings outstripped growth in sales suggests that the

GTA existing home market is becoming better supplied "Home owners are reacting to strong sales and price growth by listing their homes in greater numbers. They are confident they will receive offers in line with their asking price."

The average price for April mid-month transactions was $430,271 – up 12 per cent

compared to the average of $383,361 recorded during the first 14 days of April 2009.

The average annual rate of price increase has declined and we are shortly going to see a

return to sustainable single-digit rates of growth As home buyers experience more choice in the marketplace, there will be less upward pressure on the average selling price in the GTA.

Apartment For Rent/Lease in Queens Quay

2010-03-09T02:15:00Z

Spacious Waterfront Condo

• 1,200 sq. ft., 2 bath, 2 bdrm apartment - MLS® $2,500 CAD Monthly

Queens Quay, Toronto - Bright & Spacious 2 Bedroom Corner Unit [Approx 1200Sq.Ft] In Prime Waterfront Queens Qauy Locationj.. Breathtaking Lake & City View. Excellent Building Ameneties With Indoor/Outdoor Pool, Fitness Centre, 24 Hrs. Security/Concierge. Great Location...Steps To Union Station, Financial District, Harbourfront Centre, CN Tower, ACC & Major Attractions.

Stainless Steel Appliances [Fridge, Stove, Dishwasher, Stove, Microwave] Ensuite Washer & Dryer.***Rent Includes Parking, Locker & Utilities]

Property information

Open House in Colonial/Burnhamthorpe on Sunday

2009-10-14T14:03:00Z

Colonial/Burnhamthorpe, Mississauga - We invite everyone to visit our open house at 3349 Ingram Cres. on October 18 from 2:00 PM to 4:00 PM.

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Apartment For Sale in Downtown

2009-09-04T11:28:00Z

Breathtaking Lakeview

• 1 bath, 1 bdrm apartment - MLS® $339,000

Downtown, Toronto - Spacious 1+Den On A Higher Floor. Lake View From Bedroom, Living Room & Balcony. Great Layout Generous Size Bedroom & Den. Six Appliances, Laminate Flooring, Open Balcony, Floor To Ceiling Windows. Very Well Kept Unit. Excellent Location Steps To Union Station, Financial District, Harbourfront, ACC & CN Tower.

Excellent Ameneties In Building Include Indoor Pool, Fitness Centre, Aerobics Room, Business Centre, Virtual Sports, 24 Hrs Security / Concierge, Guest Parking & Party Room.

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Bank of Canada lowers overnight rate target by 1/4 percentage point

2009-04-21T13:34:00Z

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of a percentage point to 1/4 per cent, which the Bank judges to be the effective lower bound for that rate. The Bank Rate is correspondingly lowered to 1/2 per cent.

The Bank expects core inflation to diminish through 2009, gradually returning to the 2 per cent target in the third quarter of 2011 as aggregate supply and demand return to balance. Total CPI inflation is expected to trough at -0.8 per cent in the third quarter of 2009 and return to target in the third quarter of 2011.

Today's decision to lower the policy rate by 25 basis points brings the cumulative monetary policy easing to 425 basis points since December 2007. It is the Bank's judgment that this cumulative easing, together with the conditional commitment, is the appropriate policy stance to move the economy back to full production capacity and to achieve the 2 per cent inflation target.

Source: Bank of Canada

March Resale Housing Results Bring Positive News

2009-04-07T14:35:00Z

In March 2009 Toronto Real Estate Board reported 6,171 sales – down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 – down less than fiveper cent from the same month last year.

“The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months. In fact, over the past two months, the situation in the housing market has improved.”

The seasonally-adjusted annual rate of sales increased to 65,600 in March – up 36 per cent from the ten-year low reached in January.1 “Sales in March increased at a rate over and above what would be expected from the normal spring-time bump a greater number of households have taken advantage of increased affordability in the housing

marketplace.”

Source: Toronto Real Estate Board

Apartment For Rent/Lease in Downtown

2009-03-20T14:56:00Z

• 1 bath, 1 bdrm apartment - $1,450 CAD Monthly

Downtown, Toronto - Spacious Unit On A High Floor With Large Open Balcony Offers A Great View Of Lake a=And Downtown. Six Appliances, Granite Counter And Ceramic Backsplash In Kitchen. Marble Foyer, Spacious Layout With Open Den.

Great Location, Steps To Union Station, Financial District, Harbourfront, CN Tower, ACC, Rogers Centre And All major Attractions.

Infinity Condominiums Provide Great Ameneties Including 24 Hrs. Concierge / Security, Indoor Pool, Sauna, Whirlpool, Fitness Centre, Aerobics Room, Billiards, Virtual Sports, Lounge, Theatre, Business Centre And Guest Suites.

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Bank of Canada lowers overninght lending rate by 1/2 percentage point

2009-03-03T16:00:00Z

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3/4 per cent.

The Bank's decision to lower its policy rate by 50 basis points today brings the cumulative monetary policy easing to 400 basis points since December 2007. Consistent with returning total CPI inflation to 2 per cent, the target for the overnight rate can be expected to remain at this level or lower at least until there are clear signs that excess supply in the economy is being taken up.

The Bank will continue to monitor carefully economic and financial developments in judging to what extent further monetary stimulus will be required to achieve its 2 per cent inflation target over the medium term.

The next scheduled date for announcing the overnight rate target is 21 April 2009.

Home Buyer Incentives in 2009 Federal Budget

2009-01-28T18:11:00Z

Yesterday's federal budget has several incentives for home buyers & home owners as well:

1.Home Buyers Plan - 1st time homebuyers can now withdraw $25,000 from their RRSPs without any penalty or taxes. This has been increased from the previous allowable amount of $20,000.

2. First Time Home Buyers Tax Credit - tax relief of up to $750 to first-time buyers to help defray closing costs on their purchase.

3. Home Renovation Tax Credit - Up to $1,350 in tax relief for upgrades to your home done before Feb. 1, 2010. For renovations costing $1000 to $10,000

4. EcoEnergy Retrofit programme - a grant of up to $5,000 for changes to your home that add to energy efficiency

74,552 Sales in 2008!

2009-01-12T17:57:00Z

Total residential sales for the year 2008 were 74,552 as reported by Toronto Real Estate Board. This is down from the previous year's total of 93,193 is 2007 and 83,084 recorded in 2006. The average price in 2008 averaged $379,347 as compared to $376,236 in 2007 and the $351,941 recorded in 2006.

In the month od December 2008, TREB reported a total of 2,577 sales as compared to 4,646 recorded in December 2007 and 4,447 in December 2006.

The City of Toronto (416) recorded 1,105 sales in December, cmpared t 2,302 in december 2007 and 1,827 in December 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006

Source: Toronto Real Estate Board

GTA Resale Housing Market Continues to Reflect Economic Times - TREB

2008-11-06T17:31:00Z

The Greater Toronto Area resale housing market reported 5,155 sales in October, Toronto Real Estate Board announced today.

This represents a 35 per cent decline from the 7,915 sales reported in October 2007 and a 25 per cent decrease from the 6,876 transactions that took place during the same period two years ago.

In the City of Toronto, there were 2,136 sales, with sales activity down 38 per cent from the 3,455 transactions recorded last October.

In the 905 Region 3,019 sales were recorded, with sales activity down 32 per cent from a year ago when 4,460 homes changed hands.

With 68,570 transactions to date this year, sales are within 16 per cent of the 81,563 transactions noted a year ago. The 2007 market referred to was a record breaking year with each month breaking records for the entire year. Putting into perspective 2008 figures are indicative of a return to a more balanced market.

In the City of Toronto 27,324 sales year-to-date are within 18 per cent of the 33,441 transactions recorded last year at this time.

In the 905 Region the 41,246 sales to date are within 14 per cent of the 48,122 homes that changed hands up to this point a year ago.

In the City of Toronto, the current average price of a home is $376,896, down 13 per cent from last October’s average of $434,022 and within three per cent of the October 2006 average of $386,807.

In the 905 Region homes are selling for an average price of $336,049, a decline of eight per cent from October 2007’s average of $364,142. Prices in this area however, remain one per cent higher than the October 2006 average of $332,822.

“Earlier this year the International Monetary Fund undertook a study of housing markets in 17 countries and found that Canada was one of only two nations in which house prices are supported by the economy, There’s no doubt that real estate will continue to be a solid long-term investment in our country.”

Source: TREB

Investment in home improvement, key in competitive housing market ~ Remax

2008-09-17T13:31:00Z

An increasingly competitive housing environment is prompting a significant number of Ontario homeowners to invest in renovation before listing their homes for sale, according to a recent survey by RE/MAX Ontario-Atlantic Canada.

The RE/MAX Survey of Home Buying and Selling Trends in Ontario, conducted by COMPAS Research, in the first half of 2008 found 79 per cent of sellers said they made improvements to their homes two years prior to listing and more than one third (39 per cent) of them did so with selling in mind. Further indicative of how sophisticated sellers and buyers are becoming, 37 per cent of sellers made upgrades to their home after listing their property for sale. Home sellers are typically spending $21,000 on average in renovations; the most popular of which are updating kitchens, hardwood flooring, and new windows.

"Investing in renovation for the purpose of selling a home continues to grow in 2008," says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. 'Changing market conditions are largely responsible for the upward momentum in residential investment which is up four per cent to $6.9 billion in Ontario for the first half of this year, compared to last year at the same time. We are seeing two clear trends emerging with some homeowners looking to boost resale value by renovating and others choosing to bring their home up to today's standards by upgrading areas that are dated. In either case, the end result is a product that will more likely yield top dollar when it is time to sell."