SEPTEMBER 2012 RELEASE MID-MONTH RESALE FIGURES

GTA REALTORS® RELEASE MID-MONTH RESALE FIGURES

TORONTO, September 18, 2012 – Greater Toronto Area (GTA) REALTORS® reported 2,544 transactions through the TorontoMLS system in the first 14 days of September. This result was down by 15 per cent compared to the 2,995 sales reported during the same period in 2011.

“The combination of stricter lending guidelines, rising home prices and the added upfront cost associated with the land transfer tax in the City of Toronto resulted in a slower pace of sales during the summer of 2012 compared to a year ago,” said Toronto Real Estate Board (TREB) President Ann Hannah. The average selling price for sales during the first two weeks of September was $496,786 – representing an annual rate of increase of more the 9.5 per cent. Average selling prices were up for both low-rise and high-rise home types, including condominium apartments sold in the ‘416’ area code.

“Price growth continued to be strongest for low-rise home types during the first two weeks of September. This segment of the market has been very tight, with months of inventory remaining low from a historic perspective,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

If you require further details feel free to contact me.

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/
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National home sales rise in March

OTTAWA – April 16, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity edged higher in March 2012.

Highlights:•Home sales rose 2.5% from February to March.
•Actual (not seasonally adjusted) activity stood 1.6% above levels in March 2011, the smallest year-over-year increase since last April.
•The number of newly listed homes eased 0.3% from February to March.
•While still well balanced, the national housing market tightened due to the rise in activity.
•The national average home price edged down 0.5% on a year-over-year basis in March.
Sales activity over MLS® Systems of Canadian real estate Boards and Associations rose 2.5 per cent from February to March 2012. The increase lifted national activity to its highest monthly level since April 2010.
Activity in March was up from the previous month in two-thirds of all local markets, with Toronto, Calgary, and Edmonton contributing most to the national increase.
Actual (not seasonally adjusted) activity stood 1.6 per cent above levels in March 2011, the smallest year-over-year increase since last April. It reflects moderate gains in a number of major centres, including Toronto, Calgary, Montreal, Ottawa, and Quebec City. Increases in these housing markets offset larger declines in Vancouver and the Fraser Valley, where activity last year ran at unusually strong levels.
A total of 108,373 homes traded hands in the first three months of the year. This is 5.0 per cent above the five-year average for first quarter sales, 3.8 per cent above the 10-year average, and 4.4 per cent above activity in the first quarter of 2011.
New listings were little changed following their uptick in February, having edged lower by 0.3 per cent on a month-over-month basis in March. The number of newly listed homes declined from the previous month in just over half of all local Canadian housing markets, and rose in almost all of the remainder.
“The spring housing market is off to a good start,” said Wayne Moen, CREA’s President. “The number of sales and newly listed properties are up from levels last year, and the vast majority of housing markets remain balanced. That said, all housing is local, so buyers and sellers should talk to their local REALTOR® to understand current and prospective trends where they live.”
The national housing market remains well balanced, although the monthly increase in sales activity caused the balance between supply and demand to tighten slightly.
The national sales-to-new listings ratio, a measure of market balance, stood at 55.1 per cent in March. This remains firmly in balanced market territory, but is up from 53.6 per cent in February. Based on a ratio of between 40 and 60 per cent, more than half of local markets were balanced in March.
The number of months of inventory stood at 5.7 at the end of March on a national basis, down slightly from 5.8 months in February. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.
The actual (not seasonally adjusted) national average price for homes sold in March 2012 was $369,677, representing a decline of one half of a percentage point from the same month last year.
“Average prices are up from year-ago levels in most large urban centres,” said Gregory Klump, CREA’s Chief Economist. “The slight decline in the national average price points to a tug of war between Toronto and Vancouver from the standpoint of their sales mix compared to last year.”
“The national average price was skewed higher last spring by record level high-end home sales in some of Vancouver’s priciest neighbourhoods. It was expected that this would not recur this spring, which the latest sales figures confirm. The decline in average price reflects the change in Vancouver’s sales mix, not housing price deflation.”
“At the same time, overall home sales activity in Toronto is stronger than it was last spring, and higher-end home sales are up from year-ago levels. Being by far the most active housing market in Canada, Toronto represents the single biggest factor supporting national average price compared to last year.”
PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month.
CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations.
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/
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Thinking of selling your home in the next 1 or 2 months? For free and confidential Market Evaluation of your home click here

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Some Encouraging News and Numbers from the Toronto Real Estate President

February 12, 2010 -- No matter where your travels take you throughout the Greater Toronto Area these days, you’ll find that real estate is on many people’s minds.

From office lobbies to restaurants to subway trains, snippets of conversations about the market can be heard. This is a reflection of how profoundly our city’s real estate market affects all of us. Indeed, the quick bounce back in the real estate market (GTA and Canadian) contributed greatly to the recovery experienced in the economy to date. The Canadian Real Estate Association estimates that each resale home transaction in Canada results in over $46,000 in additional spending across many different sectors of the economy. Obviously, this spending also helps with keeping people employed and creating new jobs as we continue to recover from the recession.

Regardless of whether you’re planning a move in the near future, it’s important to keep up to date on the GTA real estate market as it has such a tremendous impact on the broader economy.
In January, 4,986 homes changed hands throughout the Greater Toronto Area. This figure far exceeds last January’s 2,670 sales, which took place in the depths of our short-lived recession. Most significantly, it is comparable to January 2008’s 5,075 transactions and the 5,173 sales that took place in January 2007, the latter of which was the strongest year on record. Breaking down the numbers, there were 1,973 sales in the 416 Area and 3,013 transactions in the 905 Region last month.

Condominium apartments comprised 47 % of all sales in the 416 and nearly 13 % of all 905 transactions last month. By contrast, at this time a year ago condominiums comprised 43 % of 416 sales and 11 % of 905 transactions, despite the fact that in last year’s struggling economy, a condominium purchase may have been a more affordable option for many homebuyers. Condominium living is becoming an increasingly popular option for a broader array of households in the GTA.

With respect to prices, there is more encouraging news. Currently, the average price of a home in the GTA is $409,058, which represents a 19 % increase over the January 2009 average price of $343,632. The increase was even more significant in the 905 Region, where last January’s average price of $328,935 rose more than 20 % to $396,556 last month. In the 416 Area the average price rose 17 % from $364,416 a year ago to $428,151 in January.

There are currently 12,052 resale homes available for sale throughout the GTA as compared to 20,450 a year ago. As we move toward the spring market though, we can expect more listings as homeowners react favourably to recent months’ activity. The average home price will continue to grow in the GTA, but at a more moderate pace.

To find out more about market conditions in your specific neighbourhood, give me a call or send me an email and I can advise you on recent sales in the area so that you can make informed decisions when planning your next move.


Zeenia Kola with Sales Representative with Re/Max Realty Specialists Inc. Brokerage.
Ph: 905-828-3434
Website: www.zeeniakola.com
Email: zeenia@zeeniakola.com

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