Luxury Waterfront Condos

 

Royal Lepage, a leading real Estate company forecast in its latest survey that the 2009 national average home price will be $297,500, down 2 per cent by year end.

It is also forecasting a 1 per cent drop in unit sales.

They went on to say that Canadian home resales took a beating in the first quarter when recession fears were at their worst and Canadian consumer confidence at its lowest.

There is a big change now in the Toronto Real Estate market with record sales for the month of June and many Toronto Condos and Homes selling for more than asking price.

Lepage goes on to say the turnaround in the second quarter Real Estate Markets, ”is really quite remarkable.”

Weaker sales conditions are to be expected in the fall, but a healthy level of activity is forecast for the second half of 2009.

Prices across Canada will vary:

• Calgary average price-$386,000 down 4.8 per cent
• Edmonton average price-$317,500-down 4.6 per cent
• Vancouver average price-$560,000 down 5.7 per cent
• Toronto average price-$374,400 down 1.5 per cent

Low mortgage rates and leveling unemployment have helped the Canadian Real Estate market return to a more even keel, Royal Lepage said.

Related Posts:

Toronto Real Estate Record June Sales

Toronto Luxury Homes Post Record Sales Says Remax

Toronto Real Estate Now Sellers Market

Toronto Real Estate Downtown

The Toronto Real Estate market saw a record breaking 10,855 sales with an average Toronto Resale Price of $403,972

The Toronto Condo market saw a few Central Condo districts obtain positive increase like ( C15 ) showing an increase in average resale price of $317,748 , a 20 per cent increase over June, 2008.

Sales were up in most off the Central Toronto Real Estate Markets, ( C01 ) the biggest downtown Toronto Condo Market, saw June resales increase 45 per cent from the same period a year ago.

The sales to active listings ratio in ( C01 ) was 70.3 per cent and Condos selling at an average 99 per cent of the listing price. One hot Toronto June Condo market with some Condos selling in multiple offers resulting in bidding wars.

The Toronto Real Estate Board sees fewer listing in the near future with more sales and that should keep the housing prices stronger than we experienced in the recent winter months.

.

Related Posts:

Record June Toronto Home And Condo Sales

Toronto Condos Resales May 2009

Waterfront Living

Downtown Toronto

Over 2,520 new homes and condos sold in Toronto and the GTA in May, 2009 according to the Building Industry and land Development Association (BILD).

So far this year the number of home and condo sales has been trending higher since January showing a positive trend month over month.

Some trends are showing home-buyers shift away from high rise Toronto Condo suites to affordable semi-detached, town homes and even single detached homes when they factor in incentives ,interest rates and price adjustments.

Sales of new Condos in Toronto and the GTA were 689 compared to 1,425 in the same month of May last year.

Related Posts:

Toronto Real Estate Sales Up First Two Weeks in June

Waterfront Living

Path System To Expand To More Condos

Toronto Waterfront Condos

With the Toronto Real Estate starting to grow month over month we are seeing more and more comparisons to average prices.

True, the month over month statistics show an increase in resales from January 2009. This is good because we sense at the very least a direction of the entire Real Estate Market both for the City of Toronto and the GTA as well.

It gives homebuyers and home buyers a sense of direction and this can definitly help in  the purchase or selling of a home. Even different neighbourhoods will hold up their value even in a down Real Estate Market.

We like to follow Toronto Condos in certain Central Districts to do just that, find a direction the resales are taking not only in price but sales as well. We picked the bigger districts with the most sales top give a rounder view of the “averages”. A smaller Central District with just a few resale Condos in Toronto would give a different picture than another Central District with 700 sales.

Related Posts:

New Toronto Condos South of Bloor

Waterfront Condos

Statistics are now available for The Toronto Real Estate Board”s May results.

Toronto home sales increased….in fact it was the first annual increase in sales since December 2007. The Real Estate Board reported sales of 9.589 including Toronto and the GTA, up almost 2 per cent from the same time last year.

Average resale home prices for May 2009 in the GTA was $395,609, down less than 1 per cent from May 2008.

The average Toronto resale price including Homes and Condos was $432,478 slightly down .04 per cent compared to the same month last year.

Resale Condo prices in the Toronto Central Districts were mixed with just a few reporting positive gains and the bigger districts negative gains in year over year price.

 Available listings on the Toronto Market were down resulting in some pressure on sales with bidding wars again appearing in home and Condo listings.

Toronto Condos in the Central District sales to active listings percentages were quite strong ranging from 63.9 per cent to 76.1 per cent, clearly in a SELLERS MARKET. The only surprise with the May stats was the lack of price increases, perhaps the fact that brand new Condos were not getting the higher prices of the past when speculators, or investors decided to sell back into the resale Market, for whatever reason.

Here is the full Toronto Real Estate Market Watch for May 2009.

 Related Posts:

First Time Buyers On The Move In Toronto

Toronto Real Estate Market Rebounds In May

Toronto Condos Resales May 2009

Toronto Condos in the Central Real Estate districts showed strength in prices for the month of April in the sales to active listings percentages and also the average sales to listed price percentages as well.

Here are the Toronto Real Estate Boards April, 2009 average resale Condo prices for the Central Districts.

Area	Act	Sales	Av.Price	Med.Price	% S-A	Av.% List
C01	730	290	$329,278	$300,000	39.7	98
C02	123	21	$508,802	$418,000	17.1	96
C03	49	14	$420,036	$380,000	28.6	96
C04	70	25	$297,330	$255,000	35.7	95
C06	24	9	$242,111	$250,000	37.5	97
C07	145	88	$288,862	$278,750	60.7	97
C08	216	125	$319,598	$284,000	57.9	97
C09	34	14	$508,500	$427,000	41.2	96
C10	134	58	$350,098	$327,750	43.3	97
C11	53	16	$178,188	$167,000	30.2	97
C12	44	8	$532,225	$420,900	18.2	97
C13	80	27	$253,603	$237,000	33.8	97
C14	213	109	$308,432	$279,180	51.2	97
C15	134	41	$265,890	$248,000	30.6	95

Condo sales to active listings percentage in a normal Real Estate Market is 24%-28% with 24% and below a buyer’s Market and above 28%, a sellers Market.

The Toronto Real Estate district ( C01 ) saw resale Condos sell for 98% of the listed price and ( C07 ) saw the sales to active listings at a high 60.7%.

We like to follow the Central Condo Districts of C01, C07, C08, C14 and C15 because they are the biggest Toronto districts with the most Condo sales.

A larger district is able to give a bigger picture of the Toronto Condo Market and what direction it is taking from month to month.

The other reason ,we like downtown Toronto and North York Condos , is because we specialize in Toronto Condo Listings.

Some Toronto Condo areas like C04 showed an increase of 7.8% in average price from April2 2008 to April 2009.

The upcoming Real Estate statistics for Toronto in May,should be the “strongest” for the 2009 reflecting  the annual Spring Market.

Related Posts:

Toronto Real Estate Technical Forecast

Toronto Condos Resales April 2009

Toronto Downtown Condos

The Toronto Real Estate Board reported that the first half of May saw 4,561 real estate transactions resulting in an increase of three per cent compared with May 2008.

TREB president Maureen O’Neil said her members reported a rise in buying activity in May with affordability encouraging many home buyers to make a purchase with confidence.

The average MLS sales price was $399,811  almost the same as last year, down one-half of one per cent. Fewer listings and more sales are pushing the average selling price back up to 2008’s level according to TREB.

Downtown Toronto Condos are still very popular in the Toronto Real Estate Market,

Toronto Real Estate Listings and Condos for sale or rent are now available on www.torontohomeandcondo.com.

Related Posts:

Toronto Condos Resales April 2009

College Park Condos

Toronto Condominium Developers prepare for not only an economic slowdown but new government regulations and taxes when the harmonized sales tax that will add another 8 per cent on top of the 5 per cent GST comes into effect in July 2010.

Toronto developers have built more new Condominiums lately , the largest market in North America. Now over 60 per cent of these Toronto developers are offering Condo sales incentives including cash on closing, lower mortgage rates and even free parking.

The Toronto area has 36,255 units under construction in the first quarter however only 917 units were sold in this period, far from the 4,000 units sold every quarter at the height of the Toronto Real Estate Market.

Buyers are still worried about the weakened stock markets, slowing world economies and a slowing Toronto Real Estate market.

Related Posts:

Toronto April Home Sales Jump

Toronto Real Estate Technical Forecast

Toronto Condo Lovers

Canadian homeowners will have to wait until next year to see Real Estate prices start to increase according to Century21 and Royal Royal LePage Real Estate Services Ltd.

The spring market is encouraging but after the normal summer lull the fall market will depend more on the economy and most important, consumer sentiment.

We have in place the main drivers of Real Estate prices:

• Home prices are lower and more affordable
• Mortgage rates are the lowest in years
• Jobs in bigger cities like Toronto are still strong
• Immigration is still strong
• First time buyers are very strong in this market

Lower interest rates and a buyers market across Canada helped spur an increase in sales in February, March, and April this year even though there was concerns of rising unemployment.

Comparing the Toronto Real Estate market  and the Chicago Real Estate market we see some big differences when we compare the level of prices in similar cities.

The average Toronto home price was $394,099 down 4 per cent and the median price was $325,000 down 2 per cent from March 2008 to March 2009. In comparison the average Chicago home price was $249,90 down 34 per cent and the median price was $180,00 a drop of 39 per cent in USD.

The Toronto Real Estate Market has slowly increased in sales so far this year and the average price of homes in comparison to last year are heading out of negative territory to more acceptable market conditions despite the recession and political taxation, the proposed HST and the City of Toronto Land Transfer Tax.

Updated  Toronto Real Estate Statistics can be found on our Toronto Real Estate website under Marketwatch that includes  Toronto Home and Condo listings and prices.

Related Posts:

Toronto Real Estate Springs Forward In February

Toronto Home Sales And Prices Decline Slowing

Toronto Real Estate Prices Stronger

Downtown Toronto

 

The newly formed Toronto Board..Build Toronto is quickly facing growing concerns as to how it will turns the City of Toronto’s own land holdings into cash.

The Build Toronto board is comprised of top private-sector experts and the Mayor played a lead role in their choice.

Now Toronto City Councillors want mandated consultation both with the neighbourhoods involved and with the local councillor.

Just now it seems that even members of the powerful management committee see that Build Toronto is a big change in the way the City of Toronto  conducts business and just how this newly formed Board will maximise the value of the city owned land holdings.

The Toronto Real Estate Market and the Toronto Condo Market will all have their future developments of the city’s land holdings overseen by Build Toronto.

The first propertiesto be transferred to Build Toronto include a bus yard at Yonge and Eglinton, a parking lot at Yonge and York Mills and the Deer Park Library all to be considered for future development or sale.

Related Posts:

Toronto Taxpayers Now In Real Estate Development

Build Toronto

Toronto Condos Downtown