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"Real
Estate Bits"
May 2008
Market Update
GTA Re-Sale Housing Market Moderate in April - But
Prices Are Up!
May 5, 2008 - April statistics show that 8762 houses sold in the Greater Toronto Area. “The market continues to experience a supply and demand situation and to- date it remains a Seller’s Market”, said TREB President Maureen O’Neill. The GTA market was down 7% from last April’s 9452 transactions. However, it is showing signs for a healthy 2008 compared to the diminished activity during the first quarter of 2008.
The sale space however, did not take place evenly throughout the GTA. With 3467 transactions in the City of Toronto, sales were down 10% from a year ago. The 905 region was down 5% from April 2007, with 5295 homes changing hands.
Prices continue to appreciate last month, to a GTA average of $398,687 – up 8% from last April’s $367,968. The average price in the City of Toronto was $446,781 – up 6% from April 2007. The 905 region’s average price of $367,196 increased 5% from a year ago.
“For more than a decade, real estate has served as the economy’s engine”, said Ms. O’Neill. “It’s encouraging to see that consumers are continuing to put their faith in real estate as an excellent long-term investment”.
Several neighbourhoods experienced strong sales in April.
Scarborough East (E08) saw an 8% overall sales increase compared to April 2007, driven by robust detached home sales.
Caledon (W28) experienced a 15% increase compared to the same time frame a year ago as a result of strong condominium sales.
Condominium Sales also drove Willowdale (C07) to a 32% increase from a year ago.
Thornhill sales increased 8% from last April due to strong detached home sales. “The number of listings on the Toronto Real Estate Board’s Multiple Listing Service has increased to 24,539, up 7% from a year ago, which is good for homebuyers, who will find a greater range of options in the market,” said Ms. O’Neill. “With prices continuing to appreciate, and increased listing inventory, factors are very favourable for consumers in today’s real estate market”.
A Breakdown Of The Total Sales Is As Follows:
|
|
TREB's - 28 West Districts had: |
3398 sales |
With an average of - $372,575 |
|
TREB's - 14 Central Districts had: |
1531 sales |
With an average of - $539,133 |
|
TREB's - 23 North Districts had: |
1768 sales |
With an average of - $429,262 |
|
TREB's - 21 East Districts had: |
2065 sales |
With an average of - $311,350 |
Average Days On Market in April was 27
Year-Over-Year Sales and Price Comparison
| Year-2007 |
# of Sales |
Average Price |
| |
|
|
| January |
5173 |
$353,724 |
| February |
6772 |
$368,687 |
| March |
8518 |
$365,285 |
| April |
9452 |
$379,025 |
| May |
11,146 |
$382,787 |
| June |
10,451 |
$381,963 |
| July |
8912 |
$366,012 |
| August |
8059 |
$361,890 |
| September |
6866 |
$380,132 |
| October |
7915 |
$394,646 |
| November |
7313 |
$393,747 |
| December |
4646 |
$394,931 |
| |
|
|
| Total |
93,193 |
$376,236 |
| |
|
|
| Year-2008 |
# of Sales |
Average Price |
| |
|
|
| January |
5075 |
$374,449 |
| February |
6015 |
$382,084 |
| March |
6631 |
$380,338 |
| April |
8762 |
$398,687 |
Web-Site Of Interest
www.toronto.ca/target70
“Garbage” has become serious business in Toronto and rightly so. However it’s a tad confusing. All these colourful bins. What goes where, when, why and how much? Visit this website to clear up the mystery and re-cycle onward!
Mortgages
Rates As Of May 15,
2008
Nino will guarantee these
rates for 120 days for any "confirmed" client of Rosemary Wright if
you bring this newsletter with you!
These "Preferred Rates" are available for new
mortgages for any of my clients who bank with Nino Pasquariello,
Senior Bank Manager of Scotiabank & Trust. Nino's office is located
at 2200 Yonge Street (at Eglinton) in Toronto.
(Bus): 416-932-3885
#7000 (Fax): 416-932-3167
E-Mail:
nino.pasquariello@scotiabank.com
Scotiabank Web-Site:
www.scotiabank.com
Find The Best Way To Use "Your" Money
|
6 Month Open |
8.65%
|
|
6 Month Convert |
5.80% |
|
1 Year Open |
9.05% |
|
1 Year Closed |
4.90% -
Effective until June 30, 2008 |
|
2 Year Closed |
6.00% |
|
3 Year Closed |
5.85% |
|
3 Year Ultimate Rate |
Prime minus .50% - Cap Rate is
7.00%
|
|
4 Year Closed |
5.60% |
|
5 Year Closed |
5.60% |
|
5 Year Flex Value |
Prime minus .50% |
|
7 Year Closed |
5.80%
|
We
are unable to guarantee the rate on the Prime Based Variable
Rate products. Rates will be based on Prime at the time of
the mortgage closing. We are able to guarantee the Cap Rate
on the 3 Year Ultimate Rate Mortgage for 120 days from the
date of your application. Please call Scotiabank for more
details on our 5 Year “Flex Value” products.
Business Of The Month
Riverside Cuff Cuts
Dog Grooming and Pet
Portraiture
1095
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Toronto M4M 1R9
Contact - Peter Virag (416) 461-2168
We
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&
Groom Cats - Every Week on "Cat" Day
Please Call For An Appointment
www.riversideruffcuts.com
grooming@riversideruffcuts.com
Please Call For An
Appointment
Home Inspection Companies
Just for Fun...
Really, Really Bad Jokes
This mental accuracy test was supposedly developed by the School of Psychiatry at Harvard. Quite possibly another urban legend – but funny nonetheless.
Take your time and see if you can read each line aloud without a mistake.
The average person over 40 years of age cannot do it!
1. This is this cat.
2. This is is cat.
3. This is how cat.
4. This is to cat.
5 This is keep cat.
6. This is an cat.
7. This is old cat.
8. This is fart cat.
9. This is busy cat.
10. This is for cat.
11. This is forty cat.
12. This is seconds cat.
Now go back and read the third word in each line from the top down.
There have been 1172 sales in Markham (N01 – N10 - N11) during the first 4 months of 2008, with an average price of $453,630. Prices are up 8% from the $417,818 recorded during the same period in 2007.
Business Referrals
Client & Networking referrals are the foundation of a
successful real estate sales representative's career. Over many years in
this industry I have enjoyed the confidence and repeat
business of my clients. I appreciate your on-going support
and want you to know that I will always look after friends
and colleagues you refer to me with professionalism, care
and respect.
Rosemary Wright
Sales Representative
Sutton Group-Bayview Realty Inc., Brokerage
Independently Owned & Operated
(Bus): (416) 483-8000
(Fax): (416) 463-0159
WebSite:
www.rosemarywright.com
E-Mail:
mail@rosemarywright.com
Direct
Page: (416) 582-1216
"Professional Service With A Personal Touch"
T his newsletter is never sent unsolicited. If you wish to
be removed, please reply to this
E-Mail with the words "Remove from Newsletter" in the
subject line or call me at
(416) 483-8000 to request removal.
The intent of the newsletters - "Real Estate Bits" &
"Real Estate Bits - 2" is to provide information to you
regarding real estate. Personal details such as your
name, contact information and address are never revealed
to anyone without your consent. In accordance with the
new
Privacy Act,
your consent must be given
(either implicitly or explicitly) to receive these
newsletters.If you do not want to receive my newsletters
- please notify me. My newsletters are not
intended to solicit Buyers or Sellers who are currently
under contract with any Broker.
The information and opinions contained, statistics and
articles are courtesy of TREB, CMHC or other individuals
or companies and are believed to be reliable, but their
accuracy is not guaranteed. Sutton Group-Bayview Realty
Inc., Brokerage and Rosemary Wright accept no
responsibility whatsoever for any loss arising from any
use or reliance on the accuracy and timeliness of the
information contained herein. Every endeavour is made to
ensure accuracy. These newsletters do not render
financial, legal, accounting, home inspection or
professional advice. They are for general educational
purposes only. They do not offer do-it-yourself advice.
We encourage you to always contact the appropriate
professionals or specialists to address your individual
needs.
E&OE |
