Mid-month resale housing market figures released
In the first two weeks of November, Greater Toronto REALTORS® reported 3,666 sales – up 84 per cent compared to the first two weeks of November 2008. The average price for these transactions was up 10 per cent year-over-year to $415,066. Increased interest in ownership housing has been widespread throughout the GTA and across all housing types,” said Toronto Real Estate Board President Tom Lebour. “However, it is important to point out that we are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price.” Year-to-date sales, at 78,233 are up 11 per cent compared to 2008. Average price, at $393,180, is up by three pe

Toronto affordability still better than usual
Desjardins has released their latest affordability index report for Canadian cities, and while the bargain-basement deals of earlier this year may have passed by, affordability in Toronto is still very good when compared to the historic average. The report states that in the third quarter of 2009, the average Toronto household made 25% more than was needed to finance the average home. This is significantly better than the average 18% surplus of years past. The report also finds that while the average home price has risen to a new high of $402,768, the

Housing demand’s up, supply, well … it’s still down
This week, the Toronto Real Estate Board announced that in the first two weeks of October there were 3,631 home sales reported – up 34% compared to the first two weeks of October 2008. TREB President Tom Lebour explained the results as follows: “While demand for existing homes has remained strong, it is important to recognize the context of current statistics. We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price.” Mr. Lebour is correct, last year at this time we were in the midst of a housing meltdown. A better comparison really would be to 2007. If we were to look at October’s mid-month tallies in

Real Value – Part Four
When it comes to selling a home, the main purpose of the endeavour is to make as much money as possible. The route to this highest return, however, is not always a direct one. This series of posts will examine the various strategies and methods homeowners can use to maximize their return. One of the most important factors that determines the desirability of a property is the list price. While it is our goal to net our clients the highest sale price possible, it is important to understand that you don’t always get that price simply by asking for it. For example, a difference as low as one dollar in asking price can make a huge difference in the number of interested buy

Neighbourhood Spotlight: Rockcliffe-Smythe
Where can I find a semi-detached home around $300,000 near the subway line and still within the City of Toronto? Sound like a rhetorical question? For most of Toronto it might be … but there are still pockets in the GTA where you can find a house that meets these criteria. Really! One such area is Rockcliffe-Smythe and no, it’s not the one you may remember. This part of the City is shedding its Stockyard past and is in the midst of a massive revitalization, one that’s se