Etobicoke Real Estate Remains Strong

The Etobicoke and Toronto real estate market has been going strong since the start of the year. The number of properties now on the market is up sharply from earlier in the year and we have shifted from a sellers-market into the beginning of a balanced-market. Bank of Canada is widely expected to raise the overnight rate and in turn signal a rise in borrowing rates generally. Banks have already made upward adjustments in their mortgage rates. The Greek financial crisis may cause the Bank of Canada to defer this adjustment, or keep it to a very modest increase.

Here are the official comments from the Toronto Real Estate Board:

May 5, 2010 -- 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.”

Here are all the charts... Click the chart to get a larger version.

Toronto Real Estate Prices Soaring

October saw another exceptional month in real estate! It remains an excellent time to be a seller of a home, and with care, a buyer in the current market.

Most notably homes are selling rapidly, often with multiple offers. If the price is right, it will sell, almost without regard to the condition of the home. This is now a classic seller's market. There is a lack of enough good homes on the market along with an over-abundance of buyers.

For the month of October 2009 there were 8,476 home transactions across the Toronto GTA as reported by the Toronto Real Estate Board. The average price jumped ahead a further 4% from last month to $423,559 - which puts us 20% of where the market was a year ago. The Toronto market has risen 6.4% above the pre-crash high of May 2008. So this is now a new-high for Toronto home prices.

If you would like a more detailed statistical review of the current market or to see what this means for your personal situation, let me know. I'm here to help!

Contact me for all your real estate needs...
Ralph Evans, Sales Representative 416 236-1241
ralph@RealEstateHelpDesk.ca
RE/MAX Professionals Inc., Brokerage

Etobicoke Real Estate

Strength of Toronto Real Estate

Toronto real estate statistics published today by the Toronto Real Estate Board shows the continuing strength of the market


TREB members reported 8,196 residential house and condo sales during the month of September 2009 with an overall average selling price of $406,877. That price is 10.4% higher year-over-year from where we were in September 2008, just as the financial world was crashing. This is also 4.9% higher than the August 2009 figure of one month ago. So this shows the impact the fall market has had on real estate activity and the continuing strength of the real estate market.

TREB then expects 2009 to turn out to be among the best years on record for the Toronto real estate market - an incredible turnaround from the buyers market that we experienced through last winter.

Want to see more market statistics or help buying and selling real estate? I am here to help!

Contact me for all your real estate needs...
Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage

Etobicoke Real Estate

Back to Normal for Toronto Housing Market - April 2009 Toronto House Prices

Toronto Real Estate Board statistics for April 2009 show that the average price has jumped up by 6.5% since the month before to $385,641 with a volume of 8107 sales made in the month across the GTA - for houses and condos combined.

What this really shows is that Toronto Real Estate has regained almost all of its value, since the market peak. Average home values are now off just 3.1% from the market peak of May 2008.

Click to see larger image.

Expectation is for a further strong upward surge in volume and value as confidence returns to the country and economic numbers improve.

Let me know if you'd like more market information, or to get my help buying, selling and investing in real estate...

Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage
Office 416 236-1241 Direct 416 577-5486
My website the RE/MAX RealEstateHelpDesk.ca

2008 Toronto Real Estate Annual Statistics

The numbers are in for 2008. Here is a look at the really big picture! There were 74,552 home/condo sales in all of 2008 across the Greater Toronto area, as recorded by the Toronto Real Estate Board. This level of activity is well down from the volume of the prior couple of years. The average price over the whole year was $379,347 compared to the 2007 average of $376,236 - that's an increase of about 0.8%.

Here is a chart to put it all in perspective...

Toronto MLS Housing Statistics for October 2008

Today the Toronto Real Estate Board published the numbers for the Toronto home sales for the month of October 2008. The average selling price across the GTA was $352,974. This is down 4.2% from the monthly average the month before and down 11.3% at the peak of May 2008.

It is not surprising that there has been a pull back in the real estate market in Toronto, but certainly nothing like the decline the stock market has seen! Homes remain a very stable long-term investment. The number of sales is well below the volume recorded in past years for the month of October. Mostly, people are being cautious at this time. People who do not need to be selling their homes are not selling. They are happy to stay put and will make a move when market conditions improve. But this then has an effect of skewing the average sales price. Fewer high-end homes are selling. The overall mix of homes may be different and thus the average is impacted.

But then current market conditions provide an excellent opportunity to be a buyer. The supply of homes for sale is up and the number of bidding wars and multiple offers is way off. The buyers have much more control for setting the terms of negotiation.

It is also a good time for move-up buyers in the same market. If you are selling one house and buying another within the Toronto market you are still okay. You may lose some value on the sale of your existing home. But you get a good deal on your purchase and then if you are moving-up to a better home, it should appreciate more rapidly than the home you have moved from.

If you would like to discuss the current market conditions more or understand how this impacts your current situation, please give Ralph a call.

Toronto MLS Housing Statistics for September 2008

September's numbers are in. There were 6,866 homes sold across the GTA in the month and the average price was $368,549. While the financial markets are seeing big changes, the Toronto real estate market remains fairly steady. The volume of homes sold continues to track below last year's record volume. Price wise the September number is up 1.0% from the month before, but still 7.1% below the market peak of last October.

The current market conditions are considered to be "balanced", and present excellent opportunities for both buyers and sellers. There is a good supply of homes for sale for buyers to choose from, and the number of bidding wars is much less frequent. Home sellers need to ensure there homes look great and are priced competitively.

My approach for sellers is to work with them to prepare their homes for sale, completing necessary repairs and staging the home.

Toronto MLS Real Estate Prices for July 2008

The key numbers for the month ending July 31st 2008 was 7,806 home sales and an average price for all of the GTA of $371,427.

The Toronto Real Estate Board stated "Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago."

Of course what they are saying is true, but how accurate a picture is this of what is happening to real estate prices in the Toronto area right now? July's numbers are the 4th month of monthly price declines. Toronto home values peaked in April and we are now 6.9% below that point, with most of the decline coming in the past month. In fact, July 2008 saw a decline of 6.2%. That is a pretty significant shift in prices for one month.

Real Estate treated as a long-term investment is always a good-buy at any time. In the long-term, the price appreciation is terrific. Its better to buy real estate and wait than to wait to buy real estate.

Here is my monthly chart...

Toronto Home Prices - Slight Decline

Here is my review of the Toronto MLS statistics for June 2008.

The official numbers were an average sales price of $395,866 and 8,600 transactions for the month. Okay, so what does that mean? Thus we have had a slight decline in home values for the past two months. A decline of 0.1% in May and 0.6% in June. However on a year over year basis, Toronto home prices remain 3.6% above where we were in June of 2007.

So, the volume of activity is off from the record levels of 2007, but there are still 8,600 homes changing hands. That's pretty active!

Real Estate agents are expecting a modest cooling of the Toronto market, but don't wait for anything really significant. Toronto is not about to have any huge decline like we have seen in the states these past few years. The market is becoming more balanced between buyers and sellers. Keeping in mind that real estate is a long term investment, this market is good for both buyers and sellers.

Here is the chart for the 18 months to the end of June 2008


Whole report is available here

Toronto Real Estate Values - Hold Steady

The Toronto Real Estate Board (TREB) released the monthly statistics for the Toronto market today. They reported that the average sales price for May was $398,148 across the whole GTA. Volume of sales was 9,411.

Prices held steady with just a 0.1% decline from the month before. The number of sales has risen every month this year and May was no exception, however the monthly number is still below last year's record pace of sales.

Here is the chart I produce each month to assist my clients in better understanding the market forces

The whole report is avaliable here