Another Strong Sales in Real Estate in Month of August

We have had yet another good month in August. Below is the Market Watch from Toronto Real Estate Board.

September 7, 2011 -- Greater Toronto REALTORS® reported 7,542 sales through the TorontoMLS® system in August – a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010. Market conditions remained tight as sales growth outstripped growth in new listings.

"Home sales in the GTA have stood up well despite a less certain economic outlook," said Toronto Real Estate Board President Richard Silver. "Home sales will be bolstered by low mortgage rates moving forward. The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, home ownership affordability in the City of Toronto could be further improved with the removal of the City's land transfer tax. This tax currently represents a substantial upfront cost for home buyers."

With market conditions remaining tight in the GTA, the average selling price continued to grow strongly in August – up by more than 10 per cent year-over-year to $451,663.

"We remain on pace for the second best year on record for sales. Approximately 90,000 transactions are expected by the end of December," said TREB's Senior Manager of Market Analysis Jason Mercer. "Major home ownership costs, including the average monthly mortgage payment, remain affordable despite the strong price growth experienced so far this year."

If you wish to get a detailed report you could contact me and I would be happy to email it to you.

Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
Facebook Link

The Madison Condo on Yonge and Eglinton

The Yonge and Eglinton Condo seem to be HOT this year! There are several new projects up this year and they are selling out. One of them is the Madison Avneue Condos, with their Phase 1 (33 storeys) sold out in May they now have their Phase 2 (30 storeys) coming up for sale on September 17th, 2011.

The Madison Ave Condos will comprise of two glass towers with roughly 644 condo units. The first tower (West Tower) will stand at 33 storeys; the second (East Tower) will be 30 storeys. The first two floors will be allocated to approximately 60,000 square feet of retail space.

Builder: Madison Condos is developed by award-winning Madison Homes and designed by Kirkor Architects, is a two building complex located at the heart of midtown Toronto, Yonge and Eglinton. The towers reinforce this duplicity by evoking the ying-yang effect with the opposite curve facing Eglinton Avenue.

Location: 97 Eglinton Ave East – South East Corner of Eglinton and Dunfield. Currently the former York Theatre/ Parking Lot. The Madison Ave condominiums will be just steps to the Yonge and Eglinton subway and the proposed extension of the Eglinton cross-town LRT.

Features:
- Comprised of approximately 644 suites in two-high rise towers that sit on an 8 storey podium, with more than 28,000 square feet of indoor and outdoor amenity space, along with more than 60,000 square feet of prime storefront retail.
- Most suites are designed with terraces or balconies with glass and rail treatment as per plan. 9 feet ceilings are standard throughout and will create a sense of airiness and space inside the suites, most will boast terraces or balconies, offering residents a sweeping panorama of the city.
- Designed to be modern and sleek, yet functional. The kitchens will feature designer series kitchen cabinetry, granite countertop, stainless steel undermount sinks, upgraded hardware, glazed ceramic backsplashes, island or breakfast bar and stainless steel appliances.
- The bathrooms boast custom designed cabinets, Caesar Stone countertop, contemporary frameless glass showers, mosaic shower floor tile and waterproof shower ceiling fixture.

There are lots of other great features that Madison Condos have to offer.

Condo suite prices are starting from mid 300’s and range from 1 bedrooms, 1 bedroom and dens, 2 bedroom, 2 bedrooms + den, 3 bedroom layouts. Sizes will vary from as low as 500 + sq ft to over 1000 sq ft.

The VIP Event is scheduled for September 17th, 2011 at 11a.m. To register contact me now to get your spot secured and to receive pre-construction discounted prices, floor plans and incentives that are only offered during the broker special event.

Warm Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
Facebook Link

Happy Labour Day Weekend!!

Hope you all had a wonderful summer this year. This is the last long weekend of the summer.
If you have no plans for the weekend, Toronto has quite a few activities lined up.

Labour Day is the final day of the CNE. Later in the day is a great time to go as there are few people around. The Canadian International Show will take place on September 3rd, 4th and 5th, 2011.

If you are looking for a multicultural event there is the third annual Brazilian Day Canada Festival and concert at Yonge-Dundas Square and the Hispanic Fiesta, September 2nd. -5th, Mel Lastman Square.

And if you are looking to do an educational event the Royal Ontario Museum is going to have Water: The Exhibition until September 5th, 2011.

I will be there at the CNE feasting on some Deep Fried Mars and Tiny Tom Donuts and enjoying the air show. Have a wonderful Long Weekend!!!

Warm Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
Facebook Link