| |
market update: Fall Market Predictions - 08/21/09 12:56 PM
This spring and summer market has had a shortage of good listings for active buyers. The demand has been high and the supply has been low. All of the classic ingredients of a sellers' market.
The fall market is around the corner, and predictions have already been made.
The experts are predicting that the current market we are experiencing in Toronto will cool off in the upcoming months - prices will stabilize and we will get back to a better inventory supply.
So frustrated buyers, dealing with bidding wars, and lack of choice, will most likely be pleased with the road ahead.
… (0 comments)
|
market update: Best June on Record! - 07/06/09 08:26 AM
In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700."The record result in June is testament to the fundamentally sound housing market in the GTA," said TREB President Tom Lebour. "An increasing number of households have been confident in purchasing a home in the region's affordable and diverse resale housing market."The average price for June transactions was $403,972 - up by two per cent compared to the same month last year."The re-emergence of seller's market conditions has exerted upward pressure on home … (3 comments)
|
market update: Market Still Booming Past Spring - 07/01/09 10:00 AM
I can always tell when a sellers' market is upon us. When a condo has just been put on the market, and that same day I'm lining up in the hallway with my clients, along with other agents and their clients, trying to get in to show the unit. Multiple offers, buyers bidding irrationally, and negotiations are becoming more infrequent. A tough market for buyers, but the sellers are now back in the game. Consumer confidence is back up, and it looks like it's going to be a busy Summer for me. Usually in the Summer, the market tends to cool a little, but it is … (0 comments)
|
market update: Sellers' Market on the Horizon - 05/10/09 07:55 AM
Properties are now selling under two weeks, some within two days, multiple offers, properties selling over asking. All signs leaning towards a sellers' market in Toronto. With sellers pricing their properties correctly, and a growing demand for properties under $500,000, the Toronto real estate market is really heating up.
In my opinion, we are no longer in a buyers' market. I would say the current market is balanced, but it is starting to shift in the sellers' favour. Obviously this has a lot to do with the neighbourhoods I sell in, but the Spring market is showing lots of activity across the board.
I would make the recommendation … (0 comments)
|
market update: TREB Reported 4,120 Resale Housing Transactions in February - 03/08/09 12:08 PM
Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year."A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties," said Toronto Real Estate Board President Maureen O'Neill.On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively. The housing market is seasonal. … (1 comments)
|
market update: No Line-ups For Me! (Great Article By Ken McLachlan) - 12/25/08 07:22 AM
I just read a great article from my Broker/Owner of RE/MAX Hallmark Realty, that sums up our current market perfectly.
"BUY when most are selling and SELL when most are buying. Simple words to live our financial lives by. In spite of being familiar with these words, many people get caught up in the frenzy of a group with their actions. Years ago I recall my first experience with group dynamics when buying a commodity. In this memory, it was GOLD. In the early 80's I remember seeing people lining up on Bloor Street in downtown Toronto to purchase GOLD. As … (1 comments)
|
market update: Important Message - 12/18/08 04:10 PM
If the cup of coffee you were drinking on Tuesday morning didn't wake you up, the headline on the front page of the Globe and Mail most surely did.
The headlines screamed "Housing sales hit 20-year low as real estate slump widens" followed by huge sub-head noting an 11 per cent decline in prices and a 44 per cent drop in Ontario housing sales in large RED print, based on the December 15th press release issued by the Canadian Real Estate Association.
The only problem with the article is that it is incorrect. In the third paragraph, the author writes "Between … (0 comments)
|
market update: Housing Market in the Greater Toronto Area - 11/20/08 06:49 AM
Toronto Real Estate Board stats for October created some heated dialogue in the industry in recent weeks. While many believe that the dismal statistics reflect the recent volatility in financial markets, some are now asking if they also identify an emerging trend in the Greater Toronto Area.
The simple answer is no. Although there are some serious negative factors influencing the marketplace, one month does not make a market. We need several consecutive months of momentum - one way or another - before we can really determine the direction of the market.
Make no mistake. 2008 has presented our industry with … (0 comments)
|
market update: Toronto Resale Housing Stable in July - 08/11/08 10:35 AM
With 7,806 transactions recorded last month, the resale housing market continued at a moderate pace in July.
In the City of Toronto the average price of $395,342, 10 per cent from the July 2006 figure of $360,409.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
The Annex experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
While homeowners continue to see healthy returns, it is taking slightly longer to achieve a … (0 comments)
|
market update: Toronto Condo Market More Balanced As Summer Arrives - 07/07/08 04:42 AM
With summer here, the Toronto condo resale market is slowly shifting towards balance after several years of favouring sellers. There will be a 22 per cent increase in inventory, over last summer. Buyers seem to have more selection, be able to take more time to make decisions, and have a little more room for negotiation. This time last year, buyers had to make quick decisions and often had to pay over asking price.
This seems to be frustrating for sellers, that their units are staying on the market a little longer, and not commanding the bidding wars that were seen so frequently in 2007.
… (0 comments)
|
market update: New Construction Condos Keep Housing Starts Sizzling - 07/02/08 11:28 AM
Thanks to a surge in condominium construction, Canadian housing starts had a robust start in 2008.
Foundations were poured for a more-than-expected 227,700 units in January, up from 184,700 in December.
Just about all of that increase was due to volatile segment of multi-unit construction (up 64 per cent) compared to a decrease in single-unit starts (such as detached homes) representing a 4.8 per cent dip.
In Toronto, where there has been a record sale of condominiums, the increase in overall starts has been even more dramatic, up 95 per cent in January to a seasonally adjusted and annualized pace of … (0 comments)
|
market update: Toronto's Condo Market Holds Steady - 06/29/08 06:47 AM
Even as there are signs greater Toronto's real estate market is losing a little of its lustre, the condo market appears to be holding steady.Everybody was worrying if last year's success was the boom before the bust. But recent statistics show this years numbers are consistent with last years sales.
Condos have towered over low-rise real estate, both in pricing per square foot and number of units sold. Many of them are in prime locations, near subways. And you can buy one for under $300,000 - there are some still advertising for under $250,000. You can't buy anything close to that in … (0 comments)
|
|
|
|
|
|
Casey Ragan
Toronto,
ON
More about me…
RE/MAX Hallmark Realty Ltd.
Address: 723 Mount Pleasant Road, Toronto, ON , M4S 2N4
Office Phone: (416) 486-5588
Email Me
 Links
Archives
|
;)
;)
