GREATER TORONTO REALTORS® REPORT FEBRUARY RESALES
March 3rd, 2010 categories: Downtown Toronto, Economy, Real Estate, Toronto
Here is the most recent update from the Toronto Real Estate Board. We are still having an active market due to the excellent mortgage rates available to the consumer. I’m always interested in your thoughts so feel free to comment below.
TORONTO, March 3, 2010 – Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.
“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types. Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.”
New listings also increased in February, climbing 24 per cent compared to the same month last year.
“Annual growth in new listings is expected to continue. New listings growth will start to outstrip sales growth as we move through 2010,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As the market becomes better supplied, we will see more sustainable single-digit rates of price growth.”
| Discussion: No Comments »
Downtown Toronto News Is Up and Running!
February 2nd, 2010 categories: Around TORONTO, Downtown Toronto, Listings, Toronto
www.DowntownTorontoNews.com
Every morning I get up, head to the front door, pick up my Globe and Mail and skip happily to the Toronto Section. What happens in the rest of the world and the world economy is important, but nothing engages me like breaking new in Toronto. Sadly, I find myself with the feeling that I am missing a lot of the Toronto goings-on, and head to the Internet going to several sources to keep up to date. Read the rest of this entry »
| Discussion: 2 Comments »
Toronto Real Estate Board Launches IDX.
February 2nd, 2010 categories: Around TORONTO, Economy, Real Estate, Technology
IDX or Internet Data Exchange has been launched by the Toronto Real Estate Board this month. This platform allows the participating Brokers to share their listings with other participating Brokers on their web sites. For a consumer it means greater access to one-stop shopping on a Brokerage or Realtor site. Read the rest of this entry »
| Discussion: 1 Comment »
The Canadian Real Estate Market: Consumer confidence in Canada ends on a stronger footing in 2009
January 24th, 2010 categories: Business, Buying in Toronto, Economy, Real Estate
Below is a great article from the Canadian Real Estate Association about the levels in Consumer Confidence as one moves across Canada:
National consumer confidence ended the year 2009 on a stronger footing compared to pre-recession levels, despite having edged down slightly the fourth quarter compared to the third quarter. According to the Conference Board of Canada’s index of consumer confidence, confidence eased slightly in the fourth quarter for the first time in three quarterly periods. The decrease in confidence reflects weakening sentiment about making major purchases. Read the rest of this entry »
| Discussion: No Comments »
Impressions of REBarCampNYC and Inman Connect NYC 2010!
January 22nd, 2010 categories: Business, Economy, Real Estate, Technology, Travel
So I have been home a week and trying to make sense of all the information that I gleaned in the four hectic days of meetings in New York City. Instead of the usual “Blow by Blow” and who said what, I will just give you some of my impressions:
First and foremost, the four days were all about Social Media . Like it or not, just the way we used to say that Realtors with Technology will replace Realtors without it, now, Realtors and Brokers who have a Social Media presence will replace those who do not. As one of the speakers said, being a “Geek” is the norm and fashionable. Grandma’s are on Facebook , tweeting and showing off their new IPhone ! Read the rest of this entry »
| Discussion: 2 Comments »
Canadian Real Estate Association – 2009 Resale Housing Market Ends On a High Note.
January 20th, 2010 categories: Business, Buying in Toronto, Lifestyle, Real Estate, Toronto
Existing home sales activity reached the highest level ever for the month of December, according to statistics released by The Canadian Real Estate Association . Strong demand in the second half of 2009, especially in the fourth quarter, pushed annual sales above 2008 levels.
Residential sales activity via the Multiple Listing Service® (MLS®) of Canadian real estate boards numbered 27,744 units in December 2009. This stands 72 per cent above activity in December 2008, when activity dropped to the lowest level in a decade. New records for the month of December were reported in Ontario, Quebec, Saskatchewan, New Brunswick, and Newfoundland & Labrador. Read the rest of this entry »
| Discussion: 2 Comments »
Toronto Real Estate Board Releases Housing Market Graphs for December 2009
January 7th, 2010 categories: Buying in Toronto, Economy, Listings, Real Estate, Selling in Toronto
The Toronto Real Estate Board has released it’s most recent Housing Market Graphs. Of note, is the last page which notes that over the past couple of years, affordability has increased in the Greater Toronto Area. This would account to the strong market we have been having despite the world-wide economic downturn. I always find these housing charts a great read as they compare the last three years and help to add some perspective that month by month statistics cannot.
| Discussion: 3 Comments »
Toronto Real Estate Board Announces: Almost 500,000 Square Feet of Space Traded in November
December 17th, 2009 categories: Downtown Toronto, Real Estate, Toronto
TORONTO, December 17, 2009 —
Toronto Real Estate Board Commercial Members reported 468,350 square feet of leased space in November, down 58 per cent from the 1,113,195 square feet recorded in November of 2008, Commercial Council Chair Garry Lander announced today. “While both the monthly and year-to-date figures are considerably below 2008 levels, recent economic news, including third quarter GDP growth and November employment gains, suggests that the health of the commercial real estate market should improve in 2010.”
Prices were mixed in November. Industrial space in all size categories leased for $5.69 per square foot net (sfn), up three per cent from the $5.51 per sfn recorded in November of 2008. Office space traded for $12.83 per sfn, up 27 per cent from the $10.10 per sfn figure recorded last November. However, prices for commercial space fell nine per cent to $16.65 per sfn from the same time in 2008. Read the rest of this entry »
| Discussion: No Comments »
Toronto Real Estate: Are Prices Really Up?
December 1st, 2009 categories: Around TORONTO, Business, Buying in Toronto, Downtown Toronto, Economy, Real Estate, Selling in Toronto, Toronto
Had some thoughts on Real Estate pricing that I wanted to share with you. Lots of discussion always on prices going up or down and what it all means especially when the interest rates have so much effect on affordability today.
Let’s start a bit of discussion: Is the same house worth more today than three years ago and will it be worth more or less in another year…will low interest rates allow buyers to pay more giving the illusion that house prices have gone up or down…Is that same house up or down or has the market just shifted to the higher range…
Feel free to add your “two cents” below:
| Discussion: 2 Comments »
This Morning’s Rant About Sales and Customer Service.
December 1st, 2009 categories: Business, Economy, Lifestyle, Technology
As you will be able to tell, I am somewhat frustrated with my wireless service. It’s always a problem for those of us in sales when we try to provide great service and other parts of the sales equation let us down…however…enough is enough…
Can you relate? “I’m mad as HELL, and I’m not going to take it anymore!!”
| Discussion: No Comments »
