TORONTO, November 16, 2010 – Greater Toronto REALTORS reported 3,076 sales through the MLS during the first two weeks of November 2010.
This represented a 16 percent decrease compared to the 3,666 sales recorded during the same period in November 2009. Year-To-Date sales amounted to 78,526 – up slightly from the 2009 total.
“The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year,” said TREB President Bill Johnston.
The average price for November mid-month transactions was $437,554 – up more than 5 percent compared to the average of $415,066 recorded during the first 14 days of November 2009.
“Mortgage payments on the average priced home remain affordable in the GTA based. This is why the average selling price continues to increase,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Wednesday, November 17, 2010
Wednesday, November 10, 2010
GTA REALTORS Reported Monthly Resale Housing Market Figures
TORONTO, November 3, 2010 – Greater Toronto REALTORS reported 6,681 sales through the MLS in October 2010.
This represents a 21 percent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one percent compared to 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,” said Toronto Real Estate Board President Bill Johnston.
“The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 percent of total sales in the City of Toronto and almost 60 percent of sales in TREB’s central districts,” Johnston continued. “In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 percent of transactions.”
The average price for October transactions was $ 443,729 – up five percent 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.
This represents a 21 percent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one percent compared to 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,” said Toronto Real Estate Board President Bill Johnston.
“The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 percent of total sales in the City of Toronto and almost 60 percent of sales in TREB’s central districts,” Johnston continued. “In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 percent of transactions.”
The average price for October transactions was $ 443,729 – up five percent 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.
Green your home and save you money
October 29, 2010 -- Toronto SUN Column --Bill Johnston, President of the Toronto Real Estate Board.
Energy efficiency used to be a subject to which only the environmentally conscious gave a lot of consideration. Today though, with rising energy costs consuming a greater share of our household budgets, it is something that all of us are thinking about more carefully. While some energy upgrades, like new windows or solar panels, can require a sizable outlay of funds, achieving significant results doesn't have to be a costly undertaking. Sealing air leaks for example is one of the most cost-effective ways to help your home operate more efficiently. Closing off drafts around windows and doors can be achieved with a can of spray foam insulation, a tube of caulking and some weather stripping at minimal expense. You might even consider taking these efforts a step further by topping up the insulation in your attic. Planting trees is another cost effective option that offers many benefits. Trees not only trap carbon dioxide and create oxygen; the deciduous type can also provide shade for your home in summer while allowing in light during the winter months. Cutting your home heating and cooling costs can even cost nothing at all: simply turn your thermostat a few degrees up in summer and down in winter to achieve savings of five to 15 per cent.Similarly, be sure to lower the thermostat on your water heater. For a modest investment you can switch to a tankless water heater so that you are only paying to heat water when you use it. Low flow showerheads and toilets, which use 70 per cent less water, are other options that offer a sizable return on a nominal investment. Even simply turning off the faucet when brushing your teeth or shaving can make a big difference. Washing only full loads of dishes and laundry, and installing an indoor clothesline are other ways to achieve savings without any expense.Reducing consumption is also the key to saving on your electricity bill. If you have a Smart Meter installed, be sure that you are clear on Time of Use rates to take advantage of off-peak periods. Reduce your household's phantom load by unplugging unused electronics and completely eliminate the costs associated with unnecessary energy guzzlers like additional refrigerators. If you haven't done so already, make the transition to compact fluorescent bulbs, which use approximately 75 per cent less electricity than the old-style bulbs. By 2012 inefficient incandescent light bulbs will no longer be available for sale in Canada anyway.To gain insight into opportunities specific to your household, consider hiring a professional to conduct a home energy audit. The advice you receive will not only help you save money in the short-term, this type of report can even serve as a selling feature when you're ready to move on.To help you assess whether your home meets your current needs, be sure to talk to a REALTOR®. They can offer professional insight into features that are in demand in today's market and help you explore the many housing options that may be more suited to your lifestyle.
Energy efficiency used to be a subject to which only the environmentally conscious gave a lot of consideration. Today though, with rising energy costs consuming a greater share of our household budgets, it is something that all of us are thinking about more carefully. While some energy upgrades, like new windows or solar panels, can require a sizable outlay of funds, achieving significant results doesn't have to be a costly undertaking. Sealing air leaks for example is one of the most cost-effective ways to help your home operate more efficiently. Closing off drafts around windows and doors can be achieved with a can of spray foam insulation, a tube of caulking and some weather stripping at minimal expense. You might even consider taking these efforts a step further by topping up the insulation in your attic. Planting trees is another cost effective option that offers many benefits. Trees not only trap carbon dioxide and create oxygen; the deciduous type can also provide shade for your home in summer while allowing in light during the winter months. Cutting your home heating and cooling costs can even cost nothing at all: simply turn your thermostat a few degrees up in summer and down in winter to achieve savings of five to 15 per cent.Similarly, be sure to lower the thermostat on your water heater. For a modest investment you can switch to a tankless water heater so that you are only paying to heat water when you use it. Low flow showerheads and toilets, which use 70 per cent less water, are other options that offer a sizable return on a nominal investment. Even simply turning off the faucet when brushing your teeth or shaving can make a big difference. Washing only full loads of dishes and laundry, and installing an indoor clothesline are other ways to achieve savings without any expense.Reducing consumption is also the key to saving on your electricity bill. If you have a Smart Meter installed, be sure that you are clear on Time of Use rates to take advantage of off-peak periods. Reduce your household's phantom load by unplugging unused electronics and completely eliminate the costs associated with unnecessary energy guzzlers like additional refrigerators. If you haven't done so already, make the transition to compact fluorescent bulbs, which use approximately 75 per cent less electricity than the old-style bulbs. By 2012 inefficient incandescent light bulbs will no longer be available for sale in Canada anyway.To gain insight into opportunities specific to your household, consider hiring a professional to conduct a home energy audit. The advice you receive will not only help you save money in the short-term, this type of report can even serve as a selling feature when you're ready to move on.To help you assess whether your home meets your current needs, be sure to talk to a REALTOR®. They can offer professional insight into features that are in demand in today's market and help you explore the many housing options that may be more suited to your lifestyle.
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