Toronto Real Estate Blog - Condos, Lofts & Homes

GTA Resale Housing Market Posts Best June on Record

Joanna — Mon, 06 Jul 2009 19:32:39 +0000

In June 2009, Greater Toronto REALTORS® reported a record
10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in
June was 100,700.1
"The record result in June is testament to the fundamentally sound housing market in the GTA,"
said the Toronto Real Estate Board’s newly appointed President Tom Lebour. "An increasing
number of households have been confident in purchasing a home in the region’s affordable and
diverse resale housing market."

‘Irresistible' rates drive Canada's recovery

Joanna — Mon, 29 Jun 2009 19:39:23 +0000

It looks like a miraculous resurrection.

In the midst of recession, the average national price of Canadian resale homes hit a record level in May, and sales activity increased for the fourth consecutive month. While U.S. residential real estate prices have been falling for almost three years, Canada seems to have stumbled and picked itself up again in a span of 12 months.

To some real estate agents, the market looks as good as it did before the global financial crisis began to bite last summer.

Searching for the Bottom of the Real Estate Market...

Joanna — Thu, 25 Jun 2009 14:30:33 +0000

...Is Like Chasing a Pot of Gold at the End of the Rainbow

By Andrew Zsolt, Broker of Record for Coldwell Banker Terrequity Realty

In May 2009, we saw a dramatic increase in the number of transactions in the GTA, with the Toronto Real Estate Board selling over 9,589 homes (versus 9,411 sales in May 2008). For the first time in over 16 months, we have had a month-over-month increase (i.e. May 2009 versus May 2008) in the number of properties sold in the GTA. For a comparison chart of May 2009 and May 2008, please click here. So, for those who are “looking for the bottom of the market” it looks like you have missed it.

GTA Resale Housing Sales Up 19 Per Cent in the First Half of June

Joanna — Wed, 17 Jun 2009 20:37:16 +0000

Greater Toronto REALTORS® reported 5,185 transactions in the first half of June – an increase of 19 per cent compared to the same period last year.

"Households in the GTA have become more confident in purchasing a home over the past three months," said TREB President Maureen O’Neill. "Affordability, due in part to very low borrowing costs, has played a key role."

GTA May Resale Housing Sales Higher Than Last Year

Joanna — Wed, 03 Jun 2009 22:31:43 +0000

In May 2009, Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 – the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,3001.

“The resale housing market in the GTA has remained resilient in the face of challenging times globally,” according to TREB President Maureen O’Neill. “Many home buyers have taken advantage of extremely low mortgage rates.”

Woman Accused Of Using Kids To Help Steal From Open Houses

Joanna — Tue, 02 Jun 2009 18:51:39 +0000

From CityNews.ca Staff

A woman is accused of using her own children to help in her quest to steal items from people's homes. And she's alleged to have done it right out in the open. Peel Police say the woman would go to open houses while the owners were away and only the real estate agent was inside.

When the realtor was distracted and with her kids as cover, they allege she would rifle through the possessions of the people who lived there, taking anything of value that could be easily be secreted, before finishing her tour of the home and walking out undetected.

Greater Toronto Resale Housing Sales Up in First Half of May

Joanna — Wed, 27 May 2009 21:05:40 +0000

Greater Toronto REALTORS® reported 4,561 transactions in the first half of May – an increase of three per cent compared to May 2008.

“Members reported a rise in buying activity this month,” said TREB President Maureen O’Neill. “Many home buyers who were undecided about purchasing a home during the winter months are now proceeding with confidence as a result of the GTA housing market's affordability.”

A Whole Lot of Nothing

Joanna — Sat, 23 May 2009 05:35:00 +0000

It was the lineup that did it: on a chilly November day in 2007, 100 salivating condo zombies queued in front of the sales office of One Bloor East, and the spectacle entrenched the $500-million tower (its name shortened, with Hollywood action-movie panache, to 1BE) in the public imagination. Many of them were hired by real estate agents for as much as $2,000. They huddled in the cold for over a week, determined to claim one of 612 luxury units gussied up with Miele appliances and lanais (Hawaiian for covered balcony). The hysteria was as inflated as the prices: newspapers reported that an unnamed Hong Kong businessman had offered $25 million for a two-storey penthouse suite with an infinity pool gazing out over Lake Ontario.

10 hurdles to closing on a new home

Joanna — Wed, 20 May 2009 05:41:00 +0000

Having your home purchase offer accepted is like getting that runner's high during a marathon. But hold the Gatorade cooler - the property isn't yours just yet. During the 30 days (or so) between when your purchase offer is accepted and when the keys are handed to you (commonly referred to as "escrow" - EDIT: In the US), there are many hurdles to overcome. If you stumble on any of them, the purchase may fall through and put you back at the starting line.

Greater Toronto REALTORS® report 8,107 Resales in April

Joanna — Wed, 06 May 2009 20:32:23 +0000

In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two-thirds compared to January’s ten-year low.1

“Conditions in the resale housing market have improved markedly this spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”