Toronto Real Estate Blog - Condos, Lofts & Homes

TREB Reports Strong Growth in October MLS Transactions

Joanna — Thu, 05 Nov 2009 20:04:37 +0000

In October 2009, Greater Toronto REALTORS® reported 8,476 sales, up 64 per cent from October 2008. The average price for October transactions was $423,559 – up by 20 per cent compared to the same month last year.

"Strong sales growth has occurred across many property classes – from price ranges that would attract first-time buyers to luxury properties selling for over one million dollars," said TREB President Tom Lebour.

Be careful, low rates won't last, says top banker

Joanna — Thu, 29 Oct 2009 07:07:47 +0000

Bank of Canada Governor Mark Carney is warning homebuyers against taking on too much debt because today's low interest rates will not last forever.

"People should manage their affairs prudently in anticipation that, at some point, rates will return to a more normal level," Carney said after releasing his quarterly economic review.

"Obviously, rates are exceptionally low," he said, noting that the central bank has used its interest-rate-setting influence to drive down consumer borrowing costs to record lows to help stimulate economic activity.

GTA REALTORS® Reporting October Mid-Month Housing Statistics

Joanna — Tue, 20 Oct 2009 03:16:16 +0000

In the first two weeks of October, Greater Toronto REALTORS® reported 3,631 sales – up 34 per cent compared to the first two weeks of October 2008. The average price for these transactions was up 17 per cent year-over-year to $414,479.

"While demand for existing homes has remained strong, it is important to recognize the context of current statistics. We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price," said TREB President Tom Lebour.

Where to buy: Many untapped areas of Toronto that are both desirable and affordable

Joanna — Sat, 17 Oct 2009 18:50:00 +0000

With Greater Toronto Area resale housing activity continuing at a strong pace, some homebuyers may view a condominium purchase as their only launching point into the market. While condo living is an excellent choice, there are also many untapped desirable neighbourhoods where great prices on single detached homes can still be found.

GTA REALTORS® Reporting September Resale Market Figures

Joanna — Tue, 06 Oct 2009 02:33:26 +0000

In September 2009, Greater Toronto REALTORS® reported 8,196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year.

"We have experienced an increasing rate of existing home price growth in the GTA as sales have continued to outpace 2008 results," said TREB President Tom Lebour. "Consumers have remained confident in ownership housing as a long-term investment."

GTA REALTORS® Report Sales and Price Growth in September

Joanna — Mon, 21 Sep 2009 22:46:09 +0000

In the first two weeks of September, Greater Toronto REALTORS® reported 3,361 sales – up 23 per cent compared to the first two weeks of September 2008. The average price for these transactions was up eight per cent year-over-yearto $393,818.

"An increasing number of positive reports pointing to economic recovery coupled with low interest rates have kept households confident in purchasing a home," said TREB President Tom Lebour.

Where to find a house for less than $400,000

Joanna — Sun, 13 Sep 2009 02:06:05 +0000

It's a tough lot being a first-time homebuyer.

Finding a property for less than $400,000 is a challenging proposition in a summer market that has been characterized by bidding wars, even on the most affordable homes.

Thanks to low mortgage rates, sales records have been smashed in the past two months in the Greater Toronto Area, while listings are down significantly.

So where do you buy that first home?

GTA REALTORS® Report August Resale Market Figures

Joanna — Thu, 03 Sep 2009 19:18:29 +0000

In August 2009, Greater Toronto REALTORS® reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year.

"The increase in demand for existing homes has been widespread across different housing types and price ranges," said TREB President Tom Lebour. "This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change."

GTA REALTORS® Report August Mid-Month Resale Market Figures

Joanna — Tue, 18 Aug 2009 22:16:46 +0000

In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales – up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.

"The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom Lebour.

GTA REALTORS® report resale record in July

Joanna — Thu, 13 Aug 2009 18:53:17 +0000

In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 – up by six per cent compared to the same month last year.