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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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Sales Dip in November while Selling Prices Increase

Greater Toronto Area REALTORS® reported 5,793 sales in November 2012 – down by 16 per cent compared to November 2011.

“Transactions have been down on a year-over-year basis since June, after being up substantially in the last half of 2011 and the first half of 2012. Some buyers pulled forward their decision to purchase, which has impacted sales levels in the second half of 2012,” said Toronto Real Estate Board (TREB) President Ann Hannah.

“Stricter mortgage lending guidelines, including a reduced maximum amortization period and a purchase price ceiling of one-million dollars for government insured mortgages, have prompted some buyers to move to the sidelines. This situation has been exacerbated in the City of Toronto because the additional upfront Land Transfer Tax takes money away from buyers that otherwise could be used for a larger down payment,” continued Hannah.

The average selling price was up by 1.6 per cent annually to $485,328. The MLS® Home Price Index (MLS® HPI) Composite Benchmark was up by 4.6 per cent compared to last year.

“The moderate annual rate of price growth compared to previous months was largely due to a different mix in detached home sales this year compared to last, particularly in the City of Toronto. The share of detached homes that sold for over one-million dollars was down substantially, which influenced the overall average price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“The MLS® HPI detached benchmark price, which tracks the price for a home with the same attributes over time, was up by almost six per cent in Toronto, suggesting that market conditions for low-rise homes remain quite tight despite a changing mix of sales,” added Mercer.

Source: TREB

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TREB’s Mid-October Resale Market Figures

TORONTO, October 18, 2011 — Greater Toronto REALTORS® reported 3,477 transactions through the TorontoMLS® system during the first 14 days of October 2011. This total represented a 20 per cent increase over 2,890 sales reported during the first two weeks of October 2010. Year-over-year growth in new listings for the same period was slightly stronger than that recorded for sales – up 21 per cent to 6,249.

“The first two weeks of October seem to be pointing towards more balanced market conditions as we move toward 2012. Growth in new listings outstripped growth in sales, meaning more choice for buyers,” said Toronto Real Estate Board President Richard Silver. “A growing number of home owners are reacting to the above average price growth reported this year and have decided to list their home for sale. They are confident they will receive timely offers in line with their asking prices.”

The average selling price during the first two weeks of October was $475,743 – up 7.5 per cent compared to the same period in 2010.

“The average resale home price is expected to grow at a slower pace in the months ahead because the market is becoming better supplied. There will be less competition between home buyers as we move through the fall and winter.” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “With a more balanced market in 2012, the average rate of annual price growth is expected to be in the mid single digits.”

Summary of TorontoMLS® Sales and Average Price October 1 – 14
2011 2010
Sales Average Price Sales Average Price

City of Toronto (“416”)

1,408 $524,553 1,237 $499,740

Rest of GTA (“905”)

2,069 $442,527 1,653 $400,088

GTA

3,477 $475,743 2,890 $442,742
TorontoMLS® Sales & Average Price  By Home Type
Sales Average Price
416 905 Total 416 905 Total

Detached

450 1,143 1,593 754,240 530,339 593,588

Yr./Yr. % Change

2% 24% 17% 3% 10% 6%

Semi-Detached

183 245 428 545,995 364,649 442,188

Yr./Yr. % Change

33% 41% 37% 11% 7% 9%

Townhouse

151 372 523 461,112 343,510 377,464

Yr./Yr. % Change

23% 18% 20% 16% 12% 13%

Condo Apartment

609 251 860 369,528 272,190 341,119

Yr./Yr. % Change

16% 22% 18% 10% 10% 10%

 Source: TREB

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
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March 2011 Market Watch – The Second Best March on Record.

I would like to first off welcome Daniel Losier to Keller Williams Real Estate Service. He is a hardworking individual that has impressed me. His energy is contagious and working alongside him has been beneficial and I thank him.

March Resale Housing Market Figures.

The Toronto MLS reported 9,262 transactions in March 2011, representing the second best March result on record. March 2011 transactions were 11 percent lower than March 2010.

“The strong home sales reported in March and throughout the first quarter of 2011 have been based on a solid affordability picture and improving economic conditions in the GTA and country-wide,” said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for March 2011 was up five per cent year-over-year to $456,147. The strongest average annual price growth was reported for condominium apartments and semi-detached houses, at approximately seven per cent for both home types.

“Market conditions were tighter in March compared to last year. With more competition between buyers, we have seen a strong but sustainable rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. In March, the median price was $385,000, from the $370,000 recorded during March of 2010.

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

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

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April Experiences Record Number of Buyers and Sellers

Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board(TREB) boundaries.

“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.” The average price for April transactions was $437,600 – up 13 per cent compared to the average of  $385,641 recorded in April 2009.

“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”

Median Price

In April, the median price was $373,000, from the $330,000 recorded during April of 2009.

Source: Treb

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

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

Free Real Estate Reports for Buyers and Sellers
Find Out What Your Home is Worth
5 Tips to Higher Sale Prices
Search Homes “For Sale” Using Map Search

It’s Easy To Contact Me, Just Click Here



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Record First Quarter Sales – March 2010

Greater Toronto REALTORS® reported 10,430 sales through the Multiple Listing Service® (MLS®) in March, pushing total first quarter 2010 sales to 22,418 – the best result on record under the current Toronto Real Estate Board (TREB) boundaries. The average price for March transactions was $434,696. The average price for the first quarter was $427,948.

“The strong rebound in the existing home market was one of the initial drivers of economic recovery,” said TREB President Tom Lebour. “While
we don’t expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries.”

The annual rate of growth for new listings continued to accelerate in March. The number of new listings grew by 42 per cent compared to March of 2009.

“The average home price in the GTA will continue to grow this year, but the pace will slow as we move through the spring,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As growth in new listings starts to outstrip growth in sales, buyers will experience more choice, resulting in more sustainable single digit rates of average price growth.”

Median Price
In March, the median price was $370,000, from the $317,500 recorded during March of 2009.

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

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

Free Real Estate Reports for Buyers and Sellers
Find Out What Your Home is Worth
5 Tips to Higher Sale Prices
Search Homes “For Sale” Using Map Search

It’s Easy To Contact Me, Just Click Here


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February Sales and Average Price Increase Annually

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 singledigit rates of price growth.”

Median Price
In February, the median price was $366,300, from the $312,900 recorded during February of 2009.

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

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

Free Real Estate Reports for Buyers and Sellers
Find Out What Your Home is Worth
5 Tips to Higher Sale Prices
Search Homes “For Sale” Using Map Search

It’s Easy To Contact Me, Just Click Here