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The number of power of sale listings has decreased by about half since the last Power of Sale post. Taking the Mid-May report into account, it appears that we are in an equilibrium with a balanced supply of buyers and sellers. This is a great time to buy and/or sell.
Let’s take a look at the current power of sale listings.
Power of Sale Listings for Central/North Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for East Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for West Toronto
Freehold/Condominium properties please - click here -
York Region (Richmond Hill / Markham / Vaughan / Aurora) – There are very few Power of Sale listings for the towns in York Region, so I have grouped them together.
Freehold/Condominium properties please - click here -
Mississauga & Oakville
Freehold/Condominium properties please - click here -
For other areas in the GTA, please request it by emailing me and I will email the listings to you.
Please contact me to discuss any of the power of sale listings.
Please contact me to list your property for sale.
Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008
By the way… I’m never too busy for your referrals.
Toronto Real Estate
Kirby Chan
Toronto Power of SaleGreater Toronto REALTORS® reported 3,681 transactions in the first half of April, down seven per cent compared to 3,955 during the same period last year. “In lock-step with the favorable March results, resale housing market conditions in the first half of April were markedly improved compared to the winter time,” said TREB President Maureen O’Neill.
“Households that were on the sidelines at the beginning of the year are now taking advantage of lower interest rates and lower home prices.” The average price for MLS® sales was $383,161, down four per cent from $399,117 last year.
“The average home price in the GTA stabilized as resale market conditions tightened over the past two months,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “Existing home sales increased relative to new listings.”
April Mid-Month Stats
Source: Toronto Real Estate Board
Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008
By the way… I’m never too busy for your referrals.
After a 2-day snow storm, the sun has returned. The market interest is certainly picking up, with our office registering 900 showings this week. 50% of the analyst would say it is going to get worse. 50% of the analyst would say it is the bottom now and the housing market will rebound. To be honest with you, who really knows. These people are just guessing, and what I know is 50% of them are going to get it right and be labeled as experts. The other 50% will have to try their luck again. I like to look at the stats and I will provide the March housing statistics in the next post. In summary for the month of March, 2009 vs. 2008, we are down 7% in sales transaction and down 5% in average price. When compared to the month of January and February the housing market is improving at a steady rate. It seems it is not as bad as the media portrays it to be.
Let us move on to this week’s list of power of sales.
Power of Sale Listings for Central/North Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for East Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for West Toronto
Freehold/Condominium properties please - click here -
York Region (Richmond Hill / Markham / Vaughan / Aurora / Uxbridge/ Stouffville) – There are very few Power of Sale listings for the towns in York Region, so I have lumped them together.
Freehold/Condominium properties please - click here -
For other areas in the GTA, please request it by emailing me and I will email the listings to you.
Please contact me to discuss any of the power of sale listings.
Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008
By the way… I’m never too busy for your referrals.
TORONTO, March 19, 2009 – Greater Toronto REALTORS® announced 2,565 transactions in the first half of March compared to 3,183 during the same period last year. The annual rate of MLS® sales decline was the smallest in five months.
Mid-month March MLS® sales increased compared to the 2,044 sales experienced in the first half of February.
MLS® sales follow a recurring seasonal trend, with transactions generally increasing between January and May and then decreasing between June and December.
“As we move into the spring market, it appears that we are seeing stronger demand for ownership housing in the Greater Toronto Area,” said TREB President Maureen O’Neill. “Buyers are reacting to the market’s strong foundation of affordability.”
The average price for MLS® sales was $365,499 compared to $385,405 last year.
“Affordability has improved over the past few months due to a combination of lower home prices, near record lows for mortgage rates and rising earnings,”1 according to Jason Mercer, TREB’s Senior Manager of Market Analysis.
1Average weekly earnings for the Toronto CMA, as reported by Statistics Canada, have been rising on a year-over-year basis over the past year. For example, in February 2009, average weekly earnings rose by approximately 2.5 per cent compared to February 2008.
Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008
By the way… I’m never too busy for your referrals.
The warm weather has arrived! 13 degrees today, looks like spring is coming early. Good weather affects real estate prices and I feel this as more clients are calling me to see homes and to get a market evaluation on their own home.
Let us take a look at this week’s list of power of sales.
Power of Sale Listings for Central/North Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for East Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for West Toronto
Freehold/Condominium properties please - click here -
Richmond Hill / Markham / Vaughan – There are very few Power of Sale listings for the three towns in York Region, so I have lumped them together.
Freehold/Condominium properties please - click here -
For other areas in the GTA, please request it by emailing me and I will email the listings to you.
Please contact me to discuss any of the power of sale listings.
Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008
The following is a Market Report for 2008 and Outlook for 2009 for the Greater Toronto Area. It was prepared by Re/Max using TREB data. I agree with almost everything except for the part about house values remaining stable for 2008. Even though as a whole the average price of real estate in GTA has risen, the data has been wrongly interpreted. If you’ve read my previous post about luxury homes, you’ll see that luxury homes sales above $1.5 Million has been stronger than the rest of the market. The rise in average price of homes is a result of more sales in the higher price properties. I delved deeper into the data and looked at the average price in each segment. The result? Each segment has had a drop in price. Instead of a drop in sales and rise in prices, in reality it is a drop in sales and prices.
Please note this report was prepared before the layoffs at GM’s Oshawa plant. The rate of job growth may be on the negative side now.
Click below to read the Market Outlook Report.
Read the rest of this entry »
Luxury home sales have outperformed virtually all other residential price points this year, but activity in the top-end is expected to taper in most major Canadian centres in coming months.
Given the transition occurring in most residential real estate markets, upper-end sales remain exceptionally strong. The market for luxury homes is usually the first to show pressure cracks, but the reverse is actually true this year, with pent-up demand (due to trade-up activity), less speculation, and job transfers all factors contributing to stability in this segment. However, uncertainty in financial markets both here and abroad is expected to give purchasers cause for concern in the immediate future.
The top-end of the market represents less than five per cent of total sales, but activity is generally a gauge of overall market conditions. Leading the country in terms of percentage increase in luxury home sales are Regina (up 306 per cent); Winnipeg (up 89 per cent); St. John’s ( up 78 per cent); Saskatoon (up 72 per cent); Kitchener-Waterloo (up 47 per cent); Ottawa (up 36 per cent); Halifax-Dartmouth (up 20 per cent); London (up 14 per cent); Greater Vancouver (up five per cent); and Victoria (up four per cent). Solid performance is likely a result of consumer confidence, particularly in provinces like Saskatchewan, Manitoba, Newfoundland, Nova Scotia, and parts of Ontario where solid economic fundamentals helped to bolster the number of homes sold in the upper-end.
If you are looking to buy a luxury home, 2009 maybe the year to get a good deal.
|
Market |
Price Point |
Sales/07 |
Sales/08 |
Luxury |
All Res. % +/- |
|
% +/- |
|||||
|
Greater Vancouver |
$2 million |
370 |
390 |
5 |
-24 |
|
Victoria |
$1 million |
159 |
165 |
4 |
-18 |
|
Kelowna |
$1 million |
71 |
63 |
-11 |
-30 |
|
Edmonton |
$850,000 |
110 |
67 |
-64 |
-23 |
|
Calgary |
$1 million |
312 |
258 |
-17 |
-30 |
|
Regina |
$500,000 |
17 |
69 |
306 |
-11 |
|
Saskatoon |
$500,000 |
11 |
19 |
72 |
-14 |
|
Winnipeg |
$500,000 |
62 |
117 |
89 |
0.01 |
|
London |
$350,000 |
383 |
435 |
14 |
-9 |
|
Kitchener-Waterloo |
$500,000 |
128 |
188 |
47 |
-5 |
|
Hamilton-Burlington |
$750,000 |
76 |
50 |
-34 |
-7 |
|
Greater Toronto |
$1.5 million |
505 |
487 |
-5 |
-13 |
|
Ottawa |
$750,000 |
99 |
135 |
36 |
-3 |
|
Halifax-Dartmouth |
$400,000 |
218 |
262 |
20 |
-7 |
|
St. John’s |
$400,000 |
28 |
50 |
78 |
11 |
|
Source: RE/MAX, Local Real Estate Boards |
|
|
|
||
Other highlights include:
- The most expensive MLS sale in Canada in 2008 occurred in Greater Vancouver with a sticker price of $11.5 million. A property priced at $9 million in Greater Toronto sold in a multiple offer situation for more than $11 million as well.
- The priciest condominium currently listed for sale on MLS is priced at $14.8 million in Greater Vancouver – reduced from $18 million earlier this year.
- The Four Seasons Hotel, currently under construction in Greater Toronto’s Yorkville area, has the most expensive list price in the country — $30 million for a penthouse suite on the 55th floor.
Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008
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My blog is – http://kirbychan.wordpress.com
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I am a member of the Toronto Real Estate Board (TREB) www.torontomls.net. I use Rogers wireless service and use bell internet service at home. I use gmail, yahoo mail and hotmail. I have a PS3 from playstation and a wii from nintendo. I drive a Mercedes Benz B200 from mercedes-benz. I live in a detached house with four bedrooms and 4 bathrooms. My basement is unfinished. My wife and I renovated our kitchen last year. Other minor renovations were interior paint, light fixtures, cornice mouldings, built-in cabinetry in Laundry and wallpaper from farrow & ball and romo fabrics. Please vist http://decor8blog.com/ for great interior design ideas. I would like my website and blog to be as popular as http://www.topagent.com/ and http://blog.topagent.com/
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Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008
