Toronto Real Estate Statistics to March 2009

Here is the monthly look at the GTA real estate, based on the Toronto Real Estate Board statistics.
Click on Chart below to enlarge.

There were 6,171 sales for the month of March 2009 and an average price of $362,052. Thus it was a pretty active month for sales, compared to 6,631 transactions in March 2008 a year ago and 8,518 sales for March 2007. So, it is the spring market and a lot more people are active this time of year.

Has the value of Toronto real estate fallen? Not really. We are up 0.2% in value for the month, from a month ago and down about 4.8% from the values of a year ago, down 9.1% from the market peak in May of 2008.

I'd say Toronto homes have done a good job of retaining value and should shoot-up as the general economy continues to recover. With interest rates at record low levels, it may be a good time to lock in to 5-year mortgages.


Let me know if you'd like more market information...
Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage
Office 416 236-1241
Direct 416 577-5486
My website the RE/MAX RealEstateHelpDesk.ca

Home Buyer's Seminar - March 28th 2009

I am holding a seminar to help people learn the process of purchasing a home. Offered free of charge.

Click on this image for all the details...

A Picture is Worth a Thousand Words

Taking pictures of a property you have listed for sale is so critically important! 85% to 90% of all home buyers are looking on the Internet to locate a home to buy. Without a picture, who knows what the place is going to look like? Buyers won't want to see it, real estate agents aren't going to take their clients to see it.


As a modern professional RE/MAX agent I ensure all the properties I represent have professional photographs and a virtual tour to give you a complete understanding of the home, before you show up.

To me when I see "photo not available" I think "agent does not own digital camera". Come on! Get with the modern era! It's not the 1980's anymore.

If you are thinking of hiring a real estate agent to represent you in the sale of your home, be sure to select a person who understands and uses current technology.

February 2009 Toronto Real Estate Market Statistics

Statistics for February from The Greater Toronto Real Estate Board have been published today, showing a rise in the average sale price of 5.1% from the month earlier number. The average price for homes in the GTA rose from $343,632 in January 2009 to $361,305.

From one year ago, the GTA market is down 5.4% and from the market peak in May 2008, we are down 9.3%.

This continues to show the strength of the Toronto real estate market. It should rebound rapidly as soon as the whole economic picture improves.





Click here for the complete statistics report from the Real Estate Board

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

Kick Yourself - 2009 RE/MAX Commercial

Now is a great time to be a buyer of real estate in Toronto!

RE/MAX has put together the following commercial to let you know, those people who don't take advantage of today's unique market opportunity will be kicking themselves for having missed it.

Have a look at this...



Ralph Evans

RE/MAX - Home Buyer's Seminar

I am going to be holding a series of Home Buyer seminars for people thinking about buying property in Toronto or in the GTA region.

This is a great opportunity to learn the key facts you need to know to get started in making a condo or house buying decision.

Perfect for first time buyers or anyone interested in better understanding the process of Real Estate.

Sign-up here or call for reservations at 416 579-2803.

Next two sessions will be on February 28th and on March 28th.

Great Mortgage Rates!

I have already mentioned that it's a great time to be a buyer in today's Toronto real estate market. Here is another reason why...

Mortgage rates are available at historic low levels. This means the cost of money to finance a house is next to nothing. This allows you to pay-down the principal more rapidly or afford more house than you would be permitted, if interest rates were higher.

I work with an Edward Ricciardi - a Mortgage Expert with Dominion Lending Centres. As a mortgage broker he can seek out the best rates and terms that meet the needs of each client, selected from dozens of different financial institutions.

How about these rates...

3 yr fixed........... 3.75%
4 yr fixed........... 4.09%
5 yr fixed........... 4.24% (OAC as of Feb 9, 2009)

You can contact him as follows:
Edward Ricciardi, MBA
Mortgage Expert, Dominion Lending Centres
T. 416-319-9127
www.edwardricciardi.ca

January 2009 Toronto Real Estate Market Statistics

The Toronto Real Estate Board reported sales for the month of January were 2,670 with the average price at $343,632.

This shows that the volume of homes being bought and sold is about half as many as were being traded a year ago at this time. The prices have declined by 4.9% from one month earlier and are now down by 13.7% from the market peak in May 2008.

Click on the chart for a larger version.

Front Pad Parking - Toronto

The city of Toronto has just sent a letter to real estate agents in the city, to remind them of city policy regarding front pad parking.

They wanted us to know that people buying a home with a front pad parking space need to re-apply to the city for a new license. The existing license belongs to the previous owner. It is not a right that is attached to the property. Thus we say it "does not run with the land".

Some useful resources:

Here is City's the letter...

current list of Toronto homes with authorized front pad parking spaces

City of Toronto Front Parking Pad Bylaw

Parking Pad Application Form


- Ralph

Impact of Federal Budget on Real Estate

Here are the key highlights from this week's Canadian Federal Budget that touch on the world of Real Estate...

Homebuyers’ Plan
•The federal budget proposes to increase the withdrawal limit for first-time homebuyers using the Homebuyers Plan from $20,000 to $25,000 (per individual).

•Under this program, first-time homebuyers are allowed to withdraw funds from their RRSP, tax-free, to put towards the down payment on a home. Amounts withdrawn under the HBP must be repaid over a 15-year period, starting the second year following the year of the withdrawal.

•Since 1992, an estimated 2 million Canadians have used the Home Buyers’ Plan to purchase approximately 900,000 homes, making this program a huge success. Unfortunately, as time has passed, the usefulness of this program eroded because withdrawal limits were not adjusted. For this reason, REALTORS® lobbied the federal government to increase the Home Buyers’ Plan withdrawal limit to $25,000.


First-Time Home Buyers’ Tax Credit
•The Budget proposes a 15 per cent credit that would be applied to a $5,000 amount, and would provide up to $750 in tax relief to reduce costs associated with first home purchases.
•To assist first-time home buyers with the costs related to the purchase of a home such as legal fees, land transfer taxes, etc.

Home Renovation Tax Credit
•The Budget proposes a 15 per cent credit to be claimed on the portion of eligible home renovation expenditures exceeding $1,000, but not more than $10,000, meaning that the maximum tax credit that can be received is $1,350.
•Will apply to eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, pursuant to agreements entered into after January 27, 2009.
•Credit can be claimed on eligible expenditures incurred on one or more of an individual’s eligible dwellings, including houses, cottages, and condominium units owned for personal use.