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A Real Estate Sales Representative Serving Greater Toronto. Search MLS Listings, Find Homes For Sale and Sell Your Home.


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Strong Sales and Price Growth in July

Greater Toronto Area REALTORS® reported 8,544 residential sales through the TorontoMLS system in July 2013. Total sales were up by 16 per cent compared to July 2012. Over the same period, new listings added to TorontoMLS and active listings at the end of the month were up, but by a substantially smaller rate of increase compared to sales.

“Last month’s sales represented the best July result since 2009 and was the third best July result on record. Despite recent increases in average borrowing costs, home buyers are still finding affordable home ownership options in the GTA,” said Toronto Real Estate Board President Dianne Usher.

“We are a year removed from the onset of stricter mortgage lending guidelines and many households who put their decision to purchase a home on hold have reactivated their search. An increasing number of these households are getting deals done,” continued Ms. Usher.

Reflecting tighter market conditions, the average selling price for July sales was up on a year over-year basis by eight per cent to $513,246. The low-rise market segment continued to be the driver of overall price growth. It should be noted, however, that the average condominium apartment price was also up by more than the rate of inflation on an annual basis. The MLS® Home Price Index (HPI) was also up on a year-over-year basis for all major home types.

“We are forecasting continued average price growth for the remainder of 2013 and through 2014 as well. Months of inventory for low-rise homes remains near record lows, suggesting that sellers’ market conditions will remain in place in the second half of 2013. An increase in listings in 2014 would lead to more balanced market conditions and a slower pace of price growth next year, albeit still above the rate of inflation,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

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The Kirby Chan Report – Record Breaking Home Sales In April 2012

Greater Toronto REALTORS® reported 10,350 transactions through the TorontoMLS system in April 2012. This level of sales was 18 per cent higher than the 8,778 firm deals reported in April 2011. The strongest sales growth was reported in the single-detached market segment, with transactions of this home type up by 22 per cent compared to a year ago.

“Interest in single-detached homes has been very high, both in the City of Toronto and surrounding regions. Growth in single-detached listings has not kept up with demand, which means competition between buyers in this market segment increased. With this in mind, it was no surprise that the strongest annual price increase was also experienced in the single-detached segment,” said Toronto Real Estate Board President, Richard Silver.

The average price for April 2012 transactions was $517,556 – up 8.5 per cent compared to April 2011. While price growth was strongest for single-detached homes, the better-supplied condominium apartment segment experienced a more moderate annual rate of price growth, at four per cent.

“Monthly mortgage payments remain affordable for home buyers in the Greater Toronto Area. While interest rates are generally expected to increase over the next two years, the extent and timing of rate hikes has been thrown into question by slower than expected economic growth in the first quarter of this year. On net, borrowing costs are expected to remain a positive factor influencing home sales through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Wondering what your home or condo unit is worth? Contact Me, Just Click Here or call me directly at (416) 305-8008.

Kirby Chan | Sales Rep. | Director of Technology & Social Media
Keller Williams Real Estate Service
17 Church Ave., North York
Tel: (416) 222-6188 | Mobile: (416) 305-8008
info@KirbyChan.com | www.KirbyChan.com (Home Buying & Selling Resource Guide)

Real Estate Toronto 360 (GTA Home Buying Resource)
Toronto Condominium Search (GTA Condo Buying Resource)

 

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A Virtual Office Website (VOW) “Vow Thanks!”

Give your home the “Kirb” Appeal!

What’s VOW? It’s a Virtual Office Website, a new feature Realtors can give their clients.

According to TREB, “A VOW service allows REALTORS® to offer consumers a secure password-protected website to search MLS® listing data, with the benefit of a REALTOR® Member’s knowledge and accountability, without compromising MLS® accuracy or consumers’ privacy rights.”

Therefore my clients would have the ability to access information fields of much richer substance than that seen on REALTOR.ca. This feature is going to make some my clients very happy. They could use access to this additional information to determine preferences and “must haves” to aid in their home buying and selling decisions.

According to the VOW wikipedia, a VOW allows the public to:

  1. provide contact information
  2. agree to become a bona fide customer / client
  3. get a password protected private account
  4. describe property interest(s)
  5. and then conduct searches of all available MLS properties in a certain area.

I am excited to see this in action. When it rolls out, I will release an update.

What do you think? Is this good for Realtors and their clients? Leave me a comment and let’s discuss.

Wondering what your home or condo unit is worth? Contact Me, Just Click Here or call me directly at (416) 305-8008.

Kirby Chan Sales Rep., Director of Technology & Social Media
Keller Williams Real Estate Service
17 Church Ave., North York
Tel: (416) 222-6188 | Mobile: (416) 305-8008
info@KirbyChan.com | www.KirbyChan.com (Home Buying & Selling Resource Guide)

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VOW is a Virtual Office Website that gives my Greater Toronto Area clients access to additional MLS information.


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Toronto (GTA) Home prices and sales drop in December

2008dec-singlefamilybreakdown

The average GTA price in December 2008 was $361,415. During the same period last year, the Toronto MLS system recorded an average of $394,931, and in December of 2006 overall GTA prices averaged $336,217.

For December 2008 recorded sales were 2,577 down from 4,646 sales recorded during the same period last year. A 45% drop in sales.

FOR SELLERS

There was a 45% increase in active listings and 29% increase with Days on the Market. We are definitely in a buyers market now. But for Sellers, there is nothing to fear, because with my promotional plans your house will definitely perform above these averages. Even though values have dropped, the average prices have stabilized and still remain above 2006 numbers.

Contact me and I can help you sell your home at the maximum value using the full extraction method.

2008-comparison-chart

For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006. Sales were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 record during 2006.

FOR BUYERS

As the above chart shows, sale numbers have been steadily declining since Mid-2008 and the active listing supply is high. We are in a buyers market and it greatly benefits the first time home buyer. This is the best time to buy low and sell high in the future. Real estate is a long term investment, so start early and invest.

Are you thinking of Buying or Selling a home and would like to discuss your options?
Contact Me, Just Click Here
or call me directly at (416) 305-8008.

Kirby Chan
Sales Representative
416-305-8008
Web : http://www.KirbyChan.com
Email : Info@KirbyChan.com

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Keller Williams Real Estate Service
17 Church Street, North York, On

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