Toronto Real Estate: October Pushes Up Banner Year To Date

November 5, 2007 — Greater Toronto Area resale housing activity set a new record for the month of October TREB President Maureen O’Neill reported today.

With 7,915 transactions, activity was up 10 per cent over the previous best for the month, set in 2003. Sales were also up 15 per cent over last October.

October’s strong performance has pushed year-to-date activity 12 per cent ahead of last year.
“There is every indication that 2007 will be a banner year for resale housing activity in the Greater Toronto Area,” said Ms. O’Neill.

“The effects of the City of Toronto’s new land transfer tax will definitely be felt in 2008 but we are also confident that consumers will continue to see the value of real estate as a solid long-term investment.”

Prices also rose in October to an average of $394,646, a four per cent increase over the previous month.

In Pickering (E13), overall activity was up 34 per cent, led by strong detached sales and a doubling of condominium apartment transactions.

Willowdale (C07) experienced the same combination of strong detached sales and sizeable condominium apartment transactions, which led to a 67 per cent increase in overall sales.
Condominium apartment sales also pushed the South Humber area (W07) to a 60 per cent overall increase in activity.

In Central Richmond Hill (N04), a combination of detached sales and attached/row-house sales, contributed to an overall increase of 54 per cent.

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate, October Sets Records

October Sets New Record

November 5, 2007 — TREB Members recorded 7,915 transactions of single-family homes in October, an all time record for the month, TREB President Maureen O’Neill announced today. “Sales were up 15 per cent over the 6,876 figure recorded in October of 2006, and up about 10 per cent over the 7,227 transactions that took place in October 2003, which was our previous record.”

“There is every indication that 2007 will be a banner year for resale housing activity in the Greater Toronto Area,” said Ms. O’Neill. “The effects of the City of Toronto’s new land transfer tax will definitely be felt in 2008 but we are also confident that consumers will continue to see the value of real estate as a solid long-term investment.”
Prices rose in October, with the average climbing four per cent to $394,646 over September’s $380,132, and up 11 per cent over the $356,423 recorded in October of 2006.
Breaking down the total, 2,964 sales were reported in TREB’s 28 West districts and averaged $367,139; 1,602 sales were reported in the 14 Central districts and averaged $522,800; 1,555 sales were reported in the 23 North districts and averaged $415,071; and 1,794 sales were reported in TREB’s 21 East districts and averaged $307,950.

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Markets Soaring in July

TREB Members reported 8,912 total sales in July, 26 percent ahead of the 7,082 sales recorded in July of 2006, and an all time record for the month.

Furthermore, July makes the fourth month in a row that sales have broken monthly records. “The local resale market is as healthy as it has ever been,” said TREB President Donald Bentley. “Not only are we running 13 per cent ahead of last year’s January – July total of 52,682, we are running 14 per cent ahead of the seven month total for 2005, which became our best year ever.”

While sales have set a blistering pace, prices eased in July, down two per cent to $366,012 from June’s average of $373,719. “This decline is seasonal in nature,” said the President. “Prices tend to ease in July/August as potential homebuyers and sellers go on holiday.” He went on to note that the year-to-date average, at $373,326, was up five per cent over the same time-frame in 2006.

Breaking down the total, 3,424 sales were reported in TREB’s 28 West districts and averaged $347,978; 1,590 sales were reported in the 14 Central districts and averaged $470,464; 1,797 sales were reported in the 23 North districts and averaged $392,360; and 2,101 sales were reported in TREB’s 21 East districts and averaged $293,819.

source: Toronto Real Estate Board

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Toronto Real Estate: July Markets Off to Hot Start

July has started swiftly, with 3,947 sales to date, TREB President Donald Bentley announced today. This mid-month total is up 21 per cent over last July’s 3,251 sales.

“While it is too early to speak of a July record (currently the record is 8,084 sales recorded in 2003), this month should certainly end as one of our best summer performances,” said Mr. Bentley. “And in terms of year-to-date activity (54,457 sales), 2007 is 11 per cent ahead of 2006 (48,961 sales). It is also up 13 per cent over the 2005 figure (47,956 sales), and when 2005 was finished it produced an all time annual sales record.”

While transactions continued at an accelerated pace despite the onset of Summer, price increases remained moderate. At $374,254, the average was up eight per cent over the first half of July 2006. The year-to-date average, at $373,572, was up five per cent over 2006’s figure of $356,207.

Meanwhile, time-on-market came in at 31 days and the list-to-sale price ratio was 98 per cent.

In Oshawa (E16) sales rose 63 per cent over July 2006 due large to a large increase in the number of semi-detached houses sold.

Sales in Rexdale (W10) increased 97 per cent over last year due to a 133 per cent increase in transactions of detached homes.

North York Center (C14) saw a 57 per cent increase in sales based on large increases in both condo apartment and detached home sales.

Sales in Vaughan (N02) were up 68 per cent, with strong increases in almost all house types.

Source: Toronto Real Estate Board

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Set the Stage for a Quick Home Resale

In this buyer’s market, how do you make your home stand out in a sea of “For Sale” signs? According to the International Association of Home Stagers, investing in small improvements that make your home look more inviting and appealing to prospective buyers can increase its ultimate sale price by 7 percent and make it move up to 100 days faster.

Experts say that it’s the little touches — like a fresh coat of paint, updated window coverings or a new floor — that make all the difference. And since the decision to purchase a home often is made within eight seconds of walking in the front door, it’s crucial that spaces where the eye automatically rests (such as walls, windows and floors) are impeccable.

Follow these quick and simple tips from the experts to increase your home’s chances of selling sooner rather than later:

Lighten Up Light is the second most cited reason — behind location — for a buyer to choose a property. One easy way to illuminate your home’s interior is through paint. Neutrals always make a safe choice, but nothing says sunshine and warmth like yellow. While this shade won’t work for every area, it can be beautifully incorporated into public spaces like living and dining rooms.

According to Barbara Richardson, director of color marketing for ICI Paints (maker of the Glidden brand), yellow has the natural ability to elevate our mood and make us think of opportunities and possibilities. Richardson suggests pairing yellow hues with complementary shades of blue-violet on a home’s walls to make the color truly sing. Combined with dark woods or white accents, the color takes on a classic look and adds a sunny disposition to an interior. And for an even quicker way to inject a touch of vibrancy to any room, Richardson recommends yellow accessories — such as pillows, artwork, rugs and vases.

Create a Clearer View Prospective buyers are curious to know how a new home will change their perspective on the world. Don’t obscure the view of a beautiful natural landscape or a charming street with heavy curtains. Consider replacing draperies with sheer or solar shades. For instance, LightWeaves from Graber allow light to be filtered and diffused, while maintaining a clear view to the outside and reducing glare on television and computer screens.

And once you’ve installed shades that let the sun shine in, don’t forget to make sure all of your windows are sparkling and dust free prior to an open house. It also helps to add a breath of fresh air and reduce stuffiness by opening up windows an hour before visitors are expected to arrive.
Put Your Foot DownScuffs, stains and scratches under foot can make a home appear older and unkempt.Cover worn carpet and torn vinyl with laminate flooring. According to Don Cybalski director of design for Pergo, laminate is inexpensive, durable and easy to install in just a weekend. Not only does it closely replicate the look of real woods — from cherry to oak to maple, and even the hottest exotics like merbau, jatoba and bamboo — but it also maintains a “like new” appearance for longer. Laminate is guaranteed to effectively stand up to the wear and tear of hundreds of footsteps that may track through your home while it’s on the market.

Courtesy of ARAcontent

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June Market Very Strong, East York Area up 32%.

In June, the Toronto Area resale housing market was nearly 20 per cent more active than a year ago, Toronto Real Estate Board President Donald Bentley announced. The 10,451 sales recorded in the month were also just shy of the 11,146 sales that made May TREB’s most active single month ever.

“This market is very healthy and shows no signs of letting up,” Mr. Bentley said. “The strong spring we’ve seen is carrying through to the summer months, and that has helped to push this year’s total activity past 2006 bynearly 11 per cent.”

Toronto’s Danforth / Woodbine Heights area (E03) saw overall transactions jump by 32 per cent compared to last June, with gains across most housing types.

Strong sales of condominium apartments and town homes in Mississauga’s Northwest Cooksville (W15) area contributed to an overall increase in activity of 57 per cent compared to June 2006.
Detached home sales in Bayview / Hillcrest Village (C15) nearly doubled as overall transactions increased by 39 per cent compared to June of last year.

Just north of the city, Richmond Hill’s southern portion (N03) saw a 48 per cent increase in transactions compared to the same timeframe one year ago.

“The current market is exceeding expectations because it has very solid fundamentals to build upon,” TREB’s President added. “We have seen good returns on investment, and a strong economy and low borrowing costs have kept homes accessible. It’s a great time to be in the market.”

Source: Toronto Real Estate Board

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Tips for Summer Spuce Up.

Tips for Easier Home Improvement Projects

From cleaning out gutters to painting to cleaning the house from top to bottom, the home improvement project list seems never ending. Here are some new tools and tips to make the most common home projects a breeze.

1. Painting Projects: You need the right tools to help make the painting projects easier and mess-free. The HANDy Paint Pail is the perfect tool to make projects less painful and messy. With disposable covers and liners, the pail makes clean less of a hassle.

2. Gutter Cleaning: Cleaning out gutters can be an annoying task, especially with homemade contraptions that dangle from ladders or sit unsteadily on rooftops. By using the HANDy Ladder Pail, the chore becomes more practical and much less of a challenge. Attached to a ladder, it can be used to collect all the leaves and twigs that have accumulated in the gutter.

3. Spring Cleaning Around the HousePrepare one bucket of supplies that can be transported to every room and up and down ladders; the essentials are glass cleaner, all-purpose cleaner, a few rags and some paper towels. Use a standard glass cleaner on a clean rag and wipe across the window in horizontal strokes.

source: ARA content

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Toronto Realtors Fight City Hall’s Proposed Land Transfer Tax

June 27, 2007 — The Toronto Real Estate Board has told the City of Toronto that its proposal to charge a second land transfer tax treats home buyers unfairly. TREB’s comments were made in a formal presentation to the City’s Executive Committee earlier this week.

If the City moves forward with the proposal, the average Toronto home buyer will pay another $4,200 in land transfer tax. That is a 100 per cent increase, and would give Toronto the highest land transfer taxes in Canada and the second highest in North America.

“A second land transfer tax discriminates against home buyers. The City doesn’t provide any land transfer related services, so this tax is just a way of forcing home buyers to pay for services for everyone. That, simply, is unfair,” said Dorothy Mason, President of the Toronto Real Estate Board.

TREB also pointed out that the proposed second land transfer tax is most unfair to those who can least afford it – people who have small down payments and, therefore, can only qualify for a mortgage by also paying for mortgage insurance.

“Many home buyers will have no choice but to take money from their down payment to pay this tax, which would mean extra mortgage interest and higher mortgage insurance premiums. For the most vulnerable, this means that the second land transfer tax will actually cost over $15,000. The City will literally be forcing people to take out a mortgage to pay a tax. That is unfair,” Mason said.

TREB also noted that Toronto residents and businesses can’t even expect that the new money the City collects from this tax will result in any improved services.

“The Mayor and City staff have admitted that the money the City takes from home buyers will be used to fill the holes in the City’s current budget, not to expand or improve services. It’s not fair that home buyers will be paying more for the same service”, Mason said.

TREB plans to continue opposing the implementation of a second land transfer tax in Toronto.

“A second land transfer tax will make the dream of home ownership more difficult to achieve. Toronto’s REALTORS® are protecting the interests of home buyers by strongly opposing the City’s proposal. Just in the last week, hundreds of REALTORS® and the public have sent emails to the Mayor and all City Councillors telling them that his tax is a bad idea. We plan to keep up the fight,” said Mason.

Source: Toronto Real Estate Board

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Toronto Real Estate Up 24 percent Mid June Totals

During the first fifteen days of June, resale home transactions jumped 24 per cent compared to the same time frame a year ago, Toronto Real Estate Board President Dorothy Mason announced. The first half of the month yielded a remarkable 5,074 sales, an increase of 1,000 transactions from last year’s mid-June figures. This total was also 12 per cent higher than the 4,522 sales recorded in the first half of May,which ended as the most active month ever.

“We are going through one of the strongest spring markets ever,”Mrs. Mason said. “There is a lot of momentum carrying over from that and it bodes well as we move into summer.” In Scarborough Centre/Woburn (E09), sales of detached homes doubled as 38 per cent more overall transactions took place compared to mid-June a year ago. Alderwood/Mimico (W06) in Toronto’s west end saw an over all increase in activity of 50 per cent compared to figures from last year. Toronto’s Annex neighbourhood (C02) saw the number of transactions to mid-June increase by 61 per cent compared to 2006.

Outside the city, brisk sales of town homes and detached homes in central Vaughan (N08) led the way as overall transactions increased 53 per cent over the same time frame a year ago. The average price of a resale home at mid-month was $384,576, an increase of seven per cent over the $358,648 recorded during the first half of June 2006. Inventory stood at 23,725 listings, reflecting a good amount of choice and helping to keep price increases under control. “We have strong local and national economies, great value in the marketplace and solid returns on investment,” TREB’s President said. “It’s anexcellent time to be in the market, and savvy consumers are taking advantage of these great conditions.”

Toronto REALTORS(R) are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving more than 25,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area openhouse listings are now available on http://www.torontorealestateboard.com/

Source: Toronto Real Estate Board

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About Toronto Condos and Real Estate Information

Welcome to the  Toronto Condos & Real Estate Information  Blog

My name is Steven Campbell, I am a Sales Representative with Forest Hill Real Estate Inc., Brokerage. Even though I work all of the Greater Toronto Area,  my main focus area is condos in the Yonge and Sheppard area, Downtown Toronto, The center Core, Etobicoke, Scarborough Town Centre  and Thornhill.

This is the first post for this blog, and its purpose is to let you know what types of things I intend on publishing.

This Blog is going to be an informative tool for Toronto residents to learn about the Toronto Real Estate market, individual condo buildings and lots of photos of the surrounding areas within the community.

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Condos, Homes, Photos, Statistics, Listings, Information Everything Toronto Real Estate