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toronto real estate: Resale Record in July - 08/08/09 09:19 AM
As in June, the Toronto Real Estate Board is reporting another record setting month.
See the below excerpt from this month's Market Watch just released:
In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 - up by six per cent compared to the same month last year."Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA," said TREB President Tom Lebour. "The real estate sector has been one of the sectors making a positive contribution to economic … (0 comments)
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toronto real estate: 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)
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toronto real estate: 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)
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toronto real estate: Toronto's Real Estate Market On The Up-Swing - 03/25/09 03:20 PM
I have been noticing a definite up-swing in the market. Listings are selling faster, and I'm evening seeing multiple offers.
This spring market has shown a drastic improvement from the end of 2008, and I believe might be shifting in the sellers' favour.
I believe a lot of has to do with the media reporting increased property values in the U.S., along with the American banks clearing some of their "toxic assets" of their balance sheets (credit card and mortgage loans that have gone into default). The DOW Index has shown a recent spike, along with an increase (3+%) in spending of large ticket items in … (0 comments)
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toronto real estate: 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)
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toronto real estate: Bank Credit is Flowing to Canadians - 02/24/09 08:14 PM
In his February 19 Toronto Star opinion-editorial piece, TD Chief Economist Don Drummond tackles four prevailing myths about Canadian banks.
Chances are, you've heard one or more of the following statements over the past few months:
· Canadian banks aren't lending;
· Banks are hoarding cash;
· Banks have been bailed out with taxpayers' money and
• the Pursuit of bank profits is a detriment to the economy.
If you subscribe to the idea that there's a grain of truth in every myth, Don Drummond offers an explanation for how these perceptions turn to beliefs, along with a rebuttal fit for any dinner table … (0 comments)
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toronto real estate: Prices Going Up In Toronto - 02/20/09 07:21 PM
I think I should share the recent statistics, that were recently presented to me by my Broker. In January 2008, the average sale price for our Brokerage's listings was $387,000. The average sale price this January was $412,000. Even though the media will have you believe that prices are still down, you can see that is not the case.
This statistic is important, as my Brokerage, RE/MAX Hallmark Realty Ltd. has completed the most transactions in Toronto in the past few years. I believe that gives this statistic credibility.
So don't believe everything you see on TV or read in the newspaper. GTA averages aren't a … (0 comments)
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toronto real estate: Buy Toronto Real Estate Now!! - 01/25/09 08:00 AM
All of the senior agents I speak with (which have experienced the ups and downs of our markets over the past 30 years) and the recent CMHC market forecast I recently attended, all strongly believe that for the next 6 months buyers should take advantage of our current market.
They don't see the market staying the way it is, as in past recessions. Previous real estate recessions had elements in it which we do not have. Higher interest rates, higher unemployment and higher inflation to name a few. This market is different. When the market turns around, prices will increase, and mortgage … (1 comments)
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toronto real estate: 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)
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toronto real estate: 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)
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toronto real estate: 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)
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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
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