Sales were up by 15.4 per cent year-over-year to 10,180 transactions. New listings were also up
compared to the same period in 2013, but by a lesser annual rate. This means that competition between
buyers increased in June.
“Home buyers in the Greater Toronto Area are confident in their ability to purchase and affordably pay for
a home. Generally speaking, buyers feel that ownership housing will be a good investment over the long
term. This is why we continued to see increases in home sales in June for all major home types across
the GTA. Given the degree of pent-up demand in the market today, I would expect to see sales growth
continue through the summer,” said Mr. Etherington, TREB President.
The average selling price for June transactions was $568,953, representing an increase of 7.4 per cent
compared to June 2013. The strongest price increase for the GTA as a whole was for semi-detached
houses, with the average price up by 9.7 per cent year-over-year. The pace of price growth for
condominium apartments was also strong at 6.8 per cent.
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April 3, 2014 – Toronto Real Estate Board President Dianne Usher announced that
GTA REALTORS® reported strong year-over-year increases in TorontoMLS home sales
and the average selling price in March 2014.
A total of 8,081 sales were reported in March 2014 – up by
7.2 per cent in comparison to March 2013.
Sales growth was much stronger in March compared to the
first two months of the first quarter. Sales for Q1 as a whole were up by three
per cent compared to the first three months of 2013.
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Toronto, August 2, 2013 -- Greater Toronto Area REALTORS® reported 8,544
residential sales through the Toronto Multiple Listing Service® (MLS®) system
in July 2013. Total sales were up by 16% compared to July 2012. Over the same
period, new listings added to Toronto MLS® and active listings at the end of
the month were up, but by a substantially smaller rate of increase compared to
“Last month’s sales
represented the best July result since 2009 and was the third best July result
on record. Despite recent increases in average borrowing costs, home buyers are
still finding affordable home ownership options in the GTA,” said Toronto Real
Estate Board (TREB) President Dianne Usher.
“We are a year removed
from the onset of stricter mortgage lending guidelines and many households who
put their decision to purchase a home on hold have reactivated their search. An
increasing number of these households are getting deals done,” continued Ms.
market conditions, the average selling price for July sales was up on a year
over-year basis by 8% to $513,246. The low-rise market segment continued to be
the driver of overall price growth. It should be noted, however, that the
average condominium apartment price was also up by more than the rate of
inflation on an annual basis. The MLS® Home Price Index (HPI) was also up on a
year-over-year basis for all major home types.
“We are forecasting
continued average price growth for the remainder of 2013 and through 2014 as
well. Months of inventory for low-rise homes remains near record lows
suggesting that sellers’ market conditions will remain in place in the second
half of 2013. An increase in listings in 2014 would lead to more balanced
market conditions and a slower pace of price growth next year, albeit still
above the rate of inflation,” said Jason Mercer, TREB’s Senior Manager of
Easier to maintain. Anyone who has owned a house knows the amount of time, energy, and effort to maintain it. All things being equal, a smaller home requires less of your time, energy, and effort to accomplish that task.
Less time spent cleaning. And that should be reason enough…
Less expensive. Smaller homes are less expensive to purchase and less expensive to keep (insurance, taxes, heating, cooling, electricity, etc.).
Less debt and less risk. Dozens of on-line calculators will help you determine “how much house you can afford.” These formulas are based on net income, savings, current debt, and monthly mortgage payments. They are also based on the premise that we should spend ”28% of our net income on our monthly mortgage payments.” But if we can be more financially stable and happier by only spending 15%… then why would we ever choose to spend 28?
Mentally Freeing. As is the case with all of our possessions, the more we own, the more they own us. And the more stuff we own, the more mental energy is held hostage by them. The same is absolutely true with our largest, most valuable asset. Buy small and free your mind.
Less environmental impact. A smaller home requires less resources to build and less resources to maintain. And that benefits all of us.
More time. Many of the benefits above (less cleaning, less maintaining, mental freedom) result in the freeing up of our schedule to pursue the things in life that really matter – whatever you want that to be.
Encourages family bonding. A smaller home results in more social interaction among the members of the family. And while this may be the reason that some people purchase bigger homes, I think just the opposite should be true.
Forces you to remove baggage. Moving into a smaller home forces you to intentionally pare down your belongings.
Less temptation to accumulate. If you don’t have any room in your house for that new treadmill, you’ll be less tempted to buy it in the first place (no offense to those of you who own a treadmill… and actually use it).
Less decorating. While some people love the idea of choosing wall color, carpet color, furniture, window treatments, decorations, and light fixtures for dozens of rooms, I don’t.
Wider market to sell. By its very definition, a smaller, more affordable house is affordable to a larger percentage of the population than a more expensive, less affordable one.
Only you know all the variables that come into play when making your decision.
Why people buy larger homes?
They “outgrow” their smaller one.
They receive a promotion and raise at work.
They are convinced by a realtor that they can afford it.
They hope to impress others.
They think a large home is the home of their dreams.
Which option did you chose?
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The rental market remains tight across the GTA despite a
surge of new condos over the last five years.
The rental market remains tight across the GTA —
and especially in the highly-coveted downtown core — despite a surge of new condos over the last five years that now
account for 16 per cent of all the rental units in the region, according to the
Canada Mortgage and Housing Corporation.
While the vacancy rate for rental apartments
bumped up slightly in October over a year earlier, it still remains at one of
its lowest levels in a decade, 1.7 per cent, compared to an even lower vacancy
rate of 1.2 per cent for rental condos, the federal housing authority said
That slip year-over-year in condo vacancy rates
occurred despite the fact there was a six per cent increase in the number of
condo units up for rent in the GTA in October over a year earlier.
Condo rents continue to run about 40 per cent
higher than apartment rents, especially older apartments, notes the report.
A one-bedroom unit in the GTA now rents for an
average $1,003 a month, compared to $1,430 for a rental condo while two-bedroom
apartments average $1,170 compared to $1,586 for a rental condo.
Rents are higher in the City of Toronto: $1,010 for a one-bedroom apartment
compared to $1,456 for a condo. Two bedrooms average $1,194 and $1,602
respectively, says the report.
An estimated 33 per cent of all new condos coming
on the market across the GTA are now being rented out rather than lived in by
owners, but competition remains especially fierce in the coveted downtown core
and, increasingly, North York and Peel Region,
according to CMHC.
Yet all those new investor-owned glass-and-granite
rental condos did little to ease demand and drive up vacancy rates in older,
purpose-built apartments, which stood at just 1.4 per cent in October of 2011,
according to the annual rental market review.
“While vacancy rates increased slightly this
year, the overall average rate remained relatively low as job opportunities
improved, first-time (home) buying slowed and supply growth remained muted.
“The increase in vacancy rates can partly be
attributed to fewer young adults and immigrants entering the market, as well as
more people leaving the GTA or choosing to rent in the condo market,” said
Shaun Hildebrand, CMHC’s senior market analyst for the GTA.
Average rents increased by 2.8 per cent across
the GTA, but by 4 per cent in the City of Toronto
where the vacancy rate has slipped below one per cent.
from : http://www.thestar.com/business/real_estate/2012/12/13/rental_vacancies_drop_despite_gta_condo_boom_report.html
Each of 2012's favorite bathrooms
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Take a look by clicking on the link
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TORONTO, January 16, 2013 – Greater Toronto REALTORS®
reported 1,469 sales through the TorontoMLS system during the first two weeks
of January 2013. This result represented an increase of 2.4 per cent over the
1,435 transactions reported during the same period in 2012.
"The New Year started off
on a positive note with residential sales slightly above last year’s levels,”
said Toronto Real Estate Board (TREB) President Ann Hannah. “I am cautiously
optimistic about this result. It will be important to watch sales trends
closely as we move through the first quarter to see if some of the households
who moved to the sidelines as a result of stricter lending guidelines are
starting to renew their decision to purchase a home.”
The average selling price
during the first 14 days of 2013 was by up by four per cent on a year-over-year
basis to $459,728.
the trend from 2012, the low-rise segment of the market experienced the strongest
price growth as competition between buyers remained quite strong,” said Jason
Mercer, TREB’s Senior Manager of Market Analysis. “The average selling price is
expected to grow in 2013, but at a slower pace as buyers benefit from more
One of the choices people have when choosing housing are condos. Condominiums are multi-family homes that people can purchase. When you buy one of these homes, you actually own the home but you do not own the entire building; you only own the inside. The outside of the home is owned by someone else and it is managed by a homeowners association.
There are two ways that homeowners associations work. One of the ways is by the owners of homes joining together as members of the association. The other way is to hire a management firm to handle all of these responsibilities. Regardless of who runs this association, the duties are still the same. The homeowners pay monthly fees to the association. This money is deposited into an account and is used to pay for exterior services and work. Some of the money is used to pay for monthly bills which include garbage removal and lawn mowing. Another portion of the money is placed in a savings account and will eventually be used for major repairs for the exteriors of the homes. The money is never used to repair the inside of the homes. The work that is needed inside is left to the owner of the home. For example, if a homeowner has a broken water pipe inside the home, the homeowner will be responsible to pay for this himself.
One of the main reasons people choose to buy condos is because of the maintenance free living options they offer. If you live in one of these homes, you will not have to complete any work outside. You may decide to plant some flowers or sweep your sidewalk, but this is it. You will never have to clean your own gutters, mow your yard or power wash your driveway. You will only be responsible for maintaining the inside of the home. This is the perfect type of living arrangement for many people. It is great for elderly people who can no longer complete outdoor work. It is also great for women that do not have the appropriate tools or equipment to complete this work. Busy people may also like this arrangement because it offers less work and worries for them. It is really an ideal situation for anyone, except for a person that loves to conduct outside work.
Condos come in many sizes and shapes. Some are first floor homes, while others might be stories high. You can buy single-floor condos or those that have multiple floors. You can also choose by the size. You can look at the square footage of a home and the number of bedrooms and bathrooms it has. All of these features are used to find the right one for each person that is interested in buying one. Keep in mind that when you purchase a condo, you will have to pay the mortgage on it and you will also have to pay a monthly homeowners association fee. That fee is important to figure in when you are getting ready to buy a new home like this.