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"Real
Estate Bits"
November
2010
Market Update
October Price Growth Reflects Healthy Market Conditions
November 3, 2010 - Greater Toronto Realtors reported 6681 sales through the Multiple Listing Service (MLS) in October 2010. This represented a 21% decrease compared to the 8476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up 1% compared to the sales reported during the January through October period in 2009.
"The annual change in sales and average selling prices has been quite uniform across the GTA and by property type as the market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010," reported Toronto Real Estate Board (TREB) President Bill Johnston.
"The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42% of total sales in the City of Toronto and almost 60% of sales in TREB's central districts," Johnston continued. "In regions surrounding the City of Toronto, in contrast, low rise housing types accounted for almost 90% of transactions”.
The average price for October transactions was $443,729 – up 5% compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802.
"The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home."
"The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household”, continued Mercer.
Average Days On Market in October was 31
What They Sold For:
This Graph Shows Monthly GTA
Sales
By Volume and Price Category
September 2010
October
2010
Year-Over-Year Sales and Price Comparison
| Year-2007 |
# of Sales |
Average Price |
| |
|
|
| Total |
93,193 |
$376,236 |
| |
|
|
| Year-2008 |
# of Sales |
Average Price |
| |
|
|
| Total |
74,552 |
$379,347 |
| |
|
|
| Year-2009 |
# of Sales |
Average Price |
| |
|
|
| January |
2670 |
$343,632 |
| February |
4120 |
$361,305 |
| March |
6171 |
$362,050 |
| April |
8107 |
$385,641 |
| May |
9589 |
$395,609 |
| June |
10,955 |
$403,972 |
| July |
9967 |
$395,414 |
| August |
8035 |
$387,921 |
| September |
8196 |
$406,877 |
| October |
8476 |
$423,559 |
| |
|
|
| Total |
87,308 |
$395,460 |
| |
|
|
| Year-2010 |
# of Sales |
Average Price |
| |
|
|
| January |
4986 |
$409,058 |
| February |
7291 |
$431,509 |
| March |
10,340 |
$434,696 |
| April |
10,898 |
$437,600 |
| May |
9470 |
$446,593 |
| June |
8442 |
$435,034 |
| July |
6564 |
$420,482 |
| August |
6232 |
$411,012 |
| September |
6310 |
$427,329 |
| October |
6681 |
$443,729 |
Web-Site Of Interest
Calmat Canada
The Green Alternative To Water Softeners
www.calmat.ca
1-888-421-4216
Mortgages
Rates As Of November 12,
2010
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 |
6.45%
|
|
6 Month Closed |
4.55%
|
|
1 Year Open |
6.50% |
|
1 Year Closed |
2.44% - Bank's
Discretion |
|
2 Year Closed |
3.15% |
|
3 Year Closed |
3.45% |
|
4 Year Closed |
3.68% |
|
5 Year Closed |
3.54% - Bank's
Discretion |
|
5 Year Scotia Flex-Closed |
(Prime Rate less
0.70) (2.30%) |
|
5 Year Scotia Flex-Open |
(Prime Rate plus
0.80) (3.80%) |
|
7 Year Closed |
5.35%
|
|
10 Year Closed |
5.95%
|
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. On a Pre-Approved Mortgage the rate is
protected for 120 days from the date of application. Please
be aware that rates can change at any time. Please call
Scotiabank for more details on their 5 Year “Flex Value”
products..
Business Of The Month
Staging For Less
“Budget- Friendly Real Estate Staging”
Design - Consultation – Staging
Joanne M. Smith
(416) 949-1407
Home Inspection Companies
Just for Fun...
Really, Really Bad Jokes
A Cheeky Little Joke
Miss Beatrice, the church organist was in her eighties and had never been married. She was admired for her sweetness and kindness. One afternoon, the pastor came to call on her and she showed him into her quaint sitting room. She invited him to have a seat while she prepared tea.
As he sat facing her old Hammond organ, the young minister noticed a cute glass bowl sitting on top of it. The bowl was filled with water, and in the water floated, of all things, a condom!
When she returned with tea and scones, they began to chat. The pastor tried to stifle his curiosity about the bowl of water and its strange floater, but soon it got the better of him and he could no longer resist.
Pointing to the bowl, he said, “Miss Beatrice I wonder if you would tell me about this? “
“Oh, yes”, she replied, “Isn't it wonderful. I was walking through the park a few months ago and I found this little package on the ground. The directions said to place it on the organ, keep it wet, and that it would prevent the spread of disease. And do you know I haven't had the flu all winter”.
In October, the median price was $366,000, up from the $357,000 during October of 2009.
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.
www.sagerealestate.ca
Rosemary Wright
Sales Representative
Sage Real Estate Ltd., Brokerage
(Bus): (416) 483-8000
(Fax): (416) 463-0159
WebSite:
www.rosemarywright.com
E-Mail:
mail@rosemarywright.com
"Professional
Service With A Personal Touch"
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newsletter is never sent unsolicited. If you wish to
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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. Sage Real Estate Ltd., 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
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We encourage you to always contact the appropriate
professionals or specialists to address your individual
needs.
E&OE |
