|
"Real
Estate Bits"
September
2010
Market Update
August 2010 Sales/New Listings Are Down - Prices Are Up
September 3, 2010 - Greater Toronto Realtors reported 6232 sales through the Multiple Listing Service MLS in August 2010. This represented a 22% cent decrease compared to the 8035 sales recorded during the same period in 2009. New listing inventory on TREB also decreased by 1% year-over-year to 10,488.
"The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months. With this said, it is important to recognize that sales on the year were eight per cent higher than in 2009," said Toronto Real Estate Board President Bill Johnston.
The average price for August transactions was $411,012 – up 6% per cent compared to the average of $387,921 reported in August 2009.
"Market conditions have remained tight enough to support higher home prices in comparison to last year. Under current mortgage lending standards, a household earning the average income in the GTA can comfortably afford the mortgage payments on an average priced home. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place," announced Jason Mercer, the Senior Manager of Market Analysis at the Toronto Real Estate Board.
Average Days On Market in August was 36
What They Sold For:
This Graph Shows Monthly GTA
Sales
By Volume and Price Category
July 2010
August
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 |
| |
|
|
| 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 |
Web-Site Of Interest
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Cohen & Master Tree And Shrub Services
Be Good To Your Trees
Mortgages
Rates As Of September 15,
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 |
6.55%
|
|
6 Month Closed |
4.30%
|
|
1 Year Open |
6.60% |
|
1 Year Closed |
2.34% - Bank's
Discretion |
|
2 Year Closed |
3.25% |
|
3 Year Closed |
3.70% |
|
4 Year Closed |
3.84% |
|
5 Year Closed |
3.75% - Bank's
Discretion |
|
5 Year Scotia Flex-Closed |
(Prime Rate less
0.70) (2.05%) |
|
5 Year Scotia Flex-Open |
(Prime Rate plus
0.80) (3.55%) |
|
7 Year Closed |
5.45%
|
|
10 Year Closed |
6.05%
|
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..
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Call John At - (416) 466-0116
Home Inspection Companies
Just for Fun...
Really, Really Bad Jokes
The Longer You’ve Been Married – The Funnier This Is.
The wife and I were sitting around the breakfast table one lazy Sunday morning.
I said to her, “If I were to die suddenly, I want you to immediately sell all my stuff.” “Now why would you want me to do something like that?” she asked.
“I figure that you would eventually remarry and I don’t want some stupid idiot using my stuff.”
She looked at me and said - “What makes you think I’d marry another stupid idiot?
In August - the median price was $358,000 up from the $338,000 figure recorded during August 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.
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"
T his
newsletter is never sent unsolicited. If you wish to
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"Real Estate Bits - 2" is to provide information to you
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new
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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
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 |
