Tag Archives: Toronto Real Estate

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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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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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.

Contact Steven