June 2012 Mid-Month Toronto Resale Housing Market Statistics

It's a strong Toronto real estate market.  Average price is still 8% higher than last year and we can expect this trend to continue with interest rates forecasted to stay low and market conditions tight.  Remember real estate is -local (location, location, location) so not every neighborhood saw same price increases so you'd need to get a CMA for your house to know what you can sell it for.  Call us to book your appointment.

TORONTO, June 18, 2012 – Greater Toronto REALTORS® reported 4,597 sales through the first 14 days of June – a result that was on par with the strong sales activity reported in the June 2011 mid-month release. While sales were flat on a year-over-year basis, the total number of new listings entered into theTorontoMLS system was up by 16 per cent to 8,382.

“Sales growth continued to be much stronger outside of the City of Toronto in the first half of June.  While higher average home prices and slower listings growth in the City of Toronto likely explain some of the disparity in sales growth, recent polling suggests that the City of Toronto’s Land Transfer Tax is having a substantial impact on where many households are looking to buy,” said Toronto Real Estate Board President Richard Silver.

“Recent polling indicated that three-quarters of people in Toronto and surrounding 905 regions who are planning to move over the next two years said that they are more likely to move outside of Toronto specifically because of the added upfront costs associated with the Toronto Land Transfer Tax,” continued Silver.

The average selling price for transactions during the first two weeks of June was $516,834 – up by over eight per cent compared to the average of $477,025 reported for the first two weeks of June 2011.

“The annual rate of price growth remains very high in the GTA.  Increased listings will result in more balanced market conditions over the next year, but it will take some time before price growth will moderate to a more sustainable pace.  Right now, months of inventory remains very low from a historic perspective and will likely not climb back to the pre-recession norm until 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

From the Toronto Real Estate Board

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  
Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com O:905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Bank of Canada holds Overnight Interest Rates

With all the uncertainty in Europe, high unemployment and economies expected to be flat it was an easy decision by the Bank of Canada to leave the rates where they are.  With all the news of mortgage rates increasing we won't expect them at least this year in my opinion.  So we can continue to enjoy the low rates and if you are a buyer, sitting on the sidelines for awhile, the summer is your best time to look and buy when seasonally many stop.  You'll be less likely in multiple offer situations and pick up a home, maybe a few thousands dollars cheaper.

Below you can read the artcile from The Globe and Mail

At a decision Tuesday in Ottawa, Bank of Canada Governor Mark Carney left his main interest rate at 1 per cent for the 14th consecutive decision, extending the bank’s longest pause since the 1950s. But even as he sounded a more cautious tone, Mr. Carney indicated he remains worried about high personal debt and hinted he is still eager to tighten policy as soon as conditions allow.

Read more 

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com O:905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

3BR Bungalow in Scarborough For Sale with Income Potential

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33 Lord Roberts Bungalow near Kennedy Station (Midland & Eglinton)

If you wanted to own a bungalow and was looking to offset your expenses by renting out the basement than this bungalow in prime location should be given serious consideration.

5- 10 minute walk to Kennedy Station, Schools (Public and Catholic), GO and shopping.

This bungalow is freshly painted, has 3 Bedroom + 1 Washroom in the main floor.  Plus 1 Bedroom, Washroom and Kitchen in the basement.

You'll be living in a safe and family oriented quiet neighbourhood.  Huge lot. 47 x 114 feet.

A Must See!  Listed for $449,900 

Extras: 2 Fridges, Stove, Washer And Dryer. All Electrical Light Fixtures. Excludes: (Chandelier On Top Of Dining Table). Broadloom Where Laid. Hardwood Flr Underneath Carpets Upstairs! Gas Burners And Equipment And A/C.

Looking to sell your house?  Contact Jas at 647.272.6629

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com  O:905.471.0002 
Assistant; Buyer Representative: Jess  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Immaculate Greenpark Semi In Popular 'Thornbury Woods', Vaughan

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Immaculate Greenpark Semi In Popular 'Thornbury Woods'
281 Golden Orchard Rd, Vaughan L6A ON3 (Major Mackenzie and Dufferin)

This gorgeous semi , under 5 years old, features loads of upgrades... fresh paint, hardwood floors, pot-lites.  The kitchen has upgraded cabinets, glass/marble backsplash, granite counters, diagonal floor tiles.  Plus you get Kitchenaid gas range & counter depth fridge, 3 Sided gas fireplace, dust pan vac, garburator. 

Garage door opener/remote plus easy entrance into the house through the garage.

The home has three generous sized bedrooms and is waslking distance to schools, park and GO.

Extras: All Elfs, All Window Coverings, Ss Gas Stove, Ss Fridge, Ss B/I Dishwasher, Ss B/I Microwave, Washer, Dryer, Garage Door Opener/Remote, Cvac And Accessories, Dust Pan Vac, Garburator.

Looking to sell your house?  Contact Jas at 647.272.6629

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com  O:905.471.0002 
Assistant; Buyer Representative: Jess  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Marilyn's Absolutely Gorgeous Luxury 3BR Condo in Mississauga For Sale!

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BRAND NEW - Never Lived In!

Now that Absolute World is registered and the long await is over.  This unique 3BR unit isn't going to last!  Located at 60 Absolute Ave, Mississauga off Hurontario St. near Burnhamthorpe Rd.. this curvacious condo is Queen of the Hill!

It's hard enough to get a 2BR unit... and a 900 Sq Ft is listed for $549K... but a 3BR is unheard of.

The lucky one will pick up this prize of 1150 sq. ft. luxury.  On the 20th Floor it has a huge 285 Sq Ft. Wrap around balcony.  Stunning floor plan.  Should sell for $625K at least.

Upgraded with all luxury amenities and stainless steel and granite counters, it's move in ready for your Royal family.

Register your offer or call Jas Jagpal, Broker at 647.272.6629

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com O:905.471.0002 
Assistant; Buyer Representative: Jess  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Week 18 - April 2012 Toronto Real Estate Market Statistics

Now I can list off the stats for April remarkable 10350 sales compared to 8778 in 2011.  Or the average price increase to $517K from $477K in April 2011.  Or that we had 2000 more listings in April than a year ago.  But what does all this mean?

You turn on the news and we continue to hear conflicting news of a housing bubble or market correction or not.  The media is very influential to sway our emotions and mould our thoughts and hence our actions.  I wouldn't be surprised many of these new listings are people trying to "cash out" believing the market is crashing.  No one knows for certain.

 

Did you know nearly 25% of the listings sold are Condos and over 86% sold above $200k price tag?  Now that was a surprise for me.  The number is much higher if you include pre-construction condo sales.  The average price for condos is $340K while a detached home was $650K.  No wonder new buyers are trending to buy condos or maybe a townhouse to start.  For a detached home, one requires significant savings and income even with 5% down payments. 

Do I think the Toronto Market will cool?  A question I'm asked all the time.  I don't see that happening right now for detached homes.  At present construction can't meet the demand.  But for condos, we are seeing a steadying of prices and the only way Investors will make money, right now, is by the process known as "Builder Appreciation" or holding for a few years after they've closed.  The low interest rates are a boon for investors.  For those who want to learn to invest we teach this process in small groups, or one on one seminars at our office.  Email: invest@realcondo.com to sign up.

 

3 Month Market Forecast:  I see a lot of selling and buying happening.  Unless we get a rise in interest rates we should see significant homes exchanging hands, parents helping children buy condos, investors investing and average prices steadying at their current highs.

 

For those interested in all things CONDOS.  Like our page on facebook:  www.Facebook.com/realcondo  I just set it up yesterday and we will be posting, new projects, assignment sales, condo info, etc.  

Once again if you are looking to SELL, INVEST, ASSIGN or BUY a house or Condo.  

Then Choose Honesty : Guaranteed Results | Choose Integrity : Team Jas Jagpal

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com  O:905.471.0002 
Assistant; Buyer Representative: Jess  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Cozy 3BR TownHouse for Sale in Markham only $342,000

STARTER TOWNHOUSE CAN BE YOURS!
9 Faithful Way, Markham, Ontario.

Priced To Go !!! Cozy 3 Bedroom 3 Storey Home In Desirable Area. This Home Features 3 Good Size Bedrooms With Private Masterbedroom With Ensuite And A Private Balcony . This Home Is Within Walking Distance To Pacific Mall, Go Train, Banks, Restaurants, Grocery, Shopping And Bowling.God Time To Get In On A Developing Area. 

Fridge, Stove, Dishwasher, Washer, Dryer. All Electrical Light Fixtures Broadloom Where Laid. Non Smokers. Pet Free.

Maintenance: $238.37 includes Water.

Looking to sell your house?  Contact Jas at 647.272.6629

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com  O:905.471.0002 
Assistant; Buyer Representative: Jess  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos