TorontoMLS -February Sales Were Strong Largely Driven By Condo’s

Last month, despite inclement weather the Toronto Real Estate Board (TREB) sales were up. This was largely due to strong sales in Condo Resales. Unlike the Freehold market of Attatched, Semi-Detached and Detached there was ample supply in the condo market. We are seeing multiple offers especially due to the lack of inventory amongst freehold listings.
TREB reports that the average selling price is up 8.6% compared to February 2013. The Home Price Index (HPI) was up 7.3 % over the same time period.

Lets hope more inventory of Low-rise homes comes on the market soon.  I have had a few clients competing in multiple offers over and over.  If you are thinking of selling your home, call me today at 905-456-1000 or email me, Ruth@RuthBallantyne.com .  Who knows, you may be receiving multiple offers by the week-end.

For more detailed information regarding statistics in Brampton, Mississauga, Caledon, and Orangeville click this link below.  If your interested in other areas please email me Ruth@RuthBallantyne.com.

http://communications3.torontomls.net/statistics/mwatch/2014/02/Peel-Dufferin_1402.pdf

Brampton’s Getting a New Outdoor Skating Rink For Chinguacousy Park

Gage Park Skating

Skating trail in Brampton’s Chinguacousy Park could be open for Winter 2015.

The guardian announces an outdoor ice skating trail to be built in Brampton’s Chinguacousy Park near the new Ski Chalet by July 2015. The Skating trail project was integrated into the 2013 City of Brampton  budget with estimated costs of $4.8 million. The new and improved skating trail will replace the skating rink at the Bramalea Civic Centre which was closed down in favour of 55 Parking Spaces. I used to skate at the Bramalea Civic Centre when I was a child and I have skated in family evenings at the Civic Centre and with Sparks and Brownie Groups. It will be great to have an outdoor rink open again on this side of Brampton as an alternative to Gage Park or the outdoor rink in the new Mount Pleasant Village. The new skating trail is expected to have seating areas, gathering space/plaza, pedestrian path, and a building to house equipment and washrooms. I hear it will have a snack bar too, for that perfect cup of hot Chocolate after the skate.

Until then you can still enjoy and outdoor free Skate at Gage Park and Mount Pleasant.

Great Idea for our Brampton Neighbourhoods

I thought this was such a great idea I posted it on facebook and others said they would like one in there neighbourhood too. I thought I’s share it here too.

Remodeling, decorating, and more ∨From Shabby Chic home decorations to contemporary furniture and the perfect wall mirror, browse thousands of decorating ideas to inspire your next home project.
From wallpapers to wall stencils, fabrics to room dividers, design doesn’t stop at construction.

Update from the Canadian Real Estate Association

New post on CREA News

Canadian home sales little changed in December
by pleduc

Ottawa, ON, January 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was little changed on a month-over-month basis in December 2012, holding it in line with levels reported in August when demand first geared down in the wake of tighter mortgage lending rules.

Highlights:
•National home sales edged 0.5% lower from November to December.
•Actual (not seasonally adjusted) activity down 17.4% from December 2011.
•Number of newly listed homes dropped 1.3% from November to December.
•Canadian housing market remains firmly in balanced territory.
•National average sale price up 1.6% year-over-year in December.
•MLS® HPI up 3.3% in December, the smallest gain since April 2011.

The number of home sales processed through the MLS® Systems of real estate Boards and Associations in Canada edged down 0.5 per cent on a month-over-month basis in December 2012. While sales activity was little changed nationally, it picked up in just over half of all local markets in December.

“National sales activity continues to hold fairly steady at lower levels since mortgage rules were changed earlier in 2012, but there are still some real differences in trends between and within local housing markets,” said CREA President Wayne Moen. “As always, all real estate is local, so buyers and sellers should speak to their REALTOR® to appreciate how the housing market is shaping up where they live or are considering living.”

Actual (not seasonally adjusted) activity came in 17.4 per cent below December 2011 levels. Four of every five local markets posted a year-over-year declines in sales activity in December. Calgary remained a notable exception, with activity there having risen seven per cent year-over-year.

Sales were handicapped by December 2012’s five full weekends, since far fewer transactions take place on weekends. This trading day effect is among factors taken into account by seasonal adjustment.

“Similar to what we saw in September, December sales had fewer business days compared to the same month last year and most other years,” said Gregory Klump, CREA Chief Economist. “It factored into December’s year-over-year decline in sales activity.”

A total of 453,372 homes traded hands over Canadian MLS® Systems in 2012. This was down 1.1 per cent from annual activity in 2011, and 1.4 per cent below the 10-year average (2002 through 2011).

This marks the fifth straight year that annual home sales activity has held to within short reach of 450,000 units. “Successive rounds of tightening mortgage regulations have kept the housing market in check during what has become an extended low interest rate environment,” said Klump.

The number of newly listed homes fell a further 1.3 per cent month-over-month in December. Combined with monthly declines of 1.1 per cent in November and 4.1 per cent in October, new supply reached its lowest level since March 2011.

While Greater Toronto posted the largest decline, new listings were down in half of all local markets in December including Greater Vancouver, the Fraser Valley, and Vancouver Island.

“The decline in new supply may reflect purchase offers below asking price that are made to sellers who are under no pressure to sell. Instead they choose to take their homes off the market once their listing expires,” Klump said. “In the absence of economic stresses like a spike in interest rates or a sharp drop in employment, this dynamic can be expected to keep the housing market in balance.“

With sales and new listings moving lower, the national sales-to-new listings ratio was little changed at 50.8 per cent in December compared to 50.4 per cent in November. Based on a sales-to-new listings ratio of between 40 to 60 per cent, three out of every five local markets were in balanced market territory in December.

The number of months of inventory is another important measure of balance between housing supply and demand. It represents the number of months it would take to sell current inventories at the current rate of sales activity, and it too was little changed in November.

Nationally, there were 6.7 months of inventory at the end of December 2012, unchanged from its reading at the end of November. The number of months of inventory nationally has remained close to 6.6 months since August 2012.

The actual (not seasonally adjusted) national average price for homes sold in December 2012 came in just under $352,800, representing an increase of 1.6 per cent from December 2011. The national average price continues to be influenced by fewer sales in Greater Vancouver and Greater Toronto compared to the same period a year earlier. Excluding these two markets from the national average price calculation yields a year-over-year increase of 3.3 per cent.

The 2012 national average price for homes sold through the MLS® Systems of real estate Boards and Associations in Canada was $363,740, up 0.3 per cent from 2011. Netting Greater Vancouver and Greater Toronto from the annual figure yields a gain of 2.8 per cent.

Unlike average price, the MLS® Home Price Index (MLS® HPI) is not affected by changes in the mix of sales, so it provides the best gauge of Canadian home price trends.

The Aggregate Composite MLS® HPI rose 3.3 per cent on a year-over-year basis in December. This marks the eighth time in as many months that the year-over-year gain shrank and is the slowest rate of increase since April 2011.

Year-over-year price gains decelerated in for two-storey single family homes (+4.0 per cent) and apartment units (+1.2 per cent). By contrast, year-over-year growth accelerated in the townhouse/row segment (+2.0 per cent).

Price growth was unchanged from November’s reading for one-storey single family homes (+4.9 per cent).

The MLS® HPI rose fastest in Regina (+10.5% year-over-year), although the increase was the smallest since March. Price growth also moderated in Greater Toronto (+4.1% year-over-year) and in the Fraser Valley (+0.5% year-over-year).

By contrast, the MLS® HPI saw year-on-year growth accelerate in Calgary (+7.4%) and Greater Montreal (+3.3%). In Greater Vancouver, the MLS® HPI posted a 2.3 per cent year-over-year decline in December.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 106,000 REALTORS® working through more than 100 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

pleduc | January 15, 2013 at 9:00 am | URL: http://wp.me/pkxN9-fI

September Housing Charts and Monthly Housing Figures

www.215Queen.com

Housing Market Charts

Along with the monthly Market Watch release, TREB will now be including a series of charts summarizing key residential statistics for the GTA. A pdf version of all charts, including a description of each chart, is available along with individual JPEG files that Members are free to download and insert into their own publications.

Download Housing Market Charts:
http://communications3.torontomls.net/statistics/mstats/pdf/2012/TREB_Housing_Market_Charts-September_2012.pdf
and
GTA REALTORS® Release Monthly Resale Housing Figures
October 2, 2012 — Greater Toronto Area (GTA) REALTORS® reported 5,879 transactions through the TorontoMLS system in September 2012. The average selling price for these transactions was $503,662, representing an increase of more than 8.5 per cent compared to last year.
http://communications3.torontomls.net/newstand/news/2012/mn1210/pdf/nr_market_watch_0912.pdf

March Newsletter Featuring Home Improvement Tips to Increase the Value of Your Home

 

The latest version of our HomeMarketWatch Insider newsletter
is now available on our website at:
http://www.bramptonhomeinfo.com/gold_newsletter.asp

Each month, we publish a series of articles of interest to
homeowners — money-saving tips, household safety checklists,
home improvement advice, real estate insider secrets, etc.
Whether you are currently in the market for a new home, or not,
we hope that this information is of value to you.  Please feel
free to pass these articles on to your family and friends.

—————————————————————–
If another person has forwarded this issue to you, and
you would like to subscribe yourself, go to the following link:
http://stayincontact.com/sub.asp?Param=aKvpXSpq5q3BB5q
—————————————————————–

This month’s features…

FEATURE REPORT:
– Home Improvement Tips to Increase the Value of Your Home

ALSO THIS MONTH:
– 13 Extra Costs to be Aware of Before Buying a Home
– 10 Questions To Ask When Choosing A Financial Planner

—————————————————————–
*** THERE’S MORE ON THE WEB… http://www.bramptonhomeinfo.com ***

Hire My Entire Team For LESS Than the Price of One Agent:
http://www.bramptonhomeinfo.com/team.asp

FREE Quick Over-the-Net Evaluation:
http://www.bramptonhomeinfo.com/homeeval.asp

Find Out What the Home Down the Street Sold For:
http://www.bramptonhomeinfo.com/gold_findout.asp

How To Beat Out Other Buyers to Hot New Listings:
http://www.bramptonhomeinfo.com/vip_buyer.asp

Ask One of Our Experts Your Real Estate Question:
http://www.bramptonhomeinfo.com/gold_askexpert.asp

Find Out How Much You Can Afford In Your Next Home:
http://www.bramptonhomeinfo.com/silver_mortgagecalc.asp

Congratulations to BREB Members, Ruth Ballantyne & Rui Alves, recipients of the 2011 REALTORS Care Foundation Fellowship Awards!

Congratulations to BREB Members, Ruth Ballantyne & Rui Alves, recipients of the 2011 REALTORS Care Foundation Fellowship Awards!
.by Brampton R. E. Board on Thursday, March 3, 2011 at 9:18am.Congratulations to BREB Members, Ruth Ballantyne (2011 Past President) of Re/Max Realty Services Inc. and Rui Alves of IP HOLDING REALTY LTD. who were recipients of the 2011 REALTORS Care Foundation Fellowship Awards. Awards were presented at the OREA Conference yesterday. Members of the fellow program align themselves with the Quality of Life Principles that the OREA Board of Directors have identified and defined as key life principles related to the real estate profession. Foundation fellows are committed to improving the quality of life in Ontario communities by supporting growth that encourages economic vitality, working to provide the opportunity to have a home and building communities. For more information about the REALTORS Care Foundation and becoming a foundation fellow, please visit www.realtorscareontario.ca (Taken from BREB Facebook Page)

Congratulations Rui and Ruth

FREE BUYER’S SEMINAR, FEB 19th, 2-3pm

The government has set March 18 as the last day for 35 year amortizations. This means Lenders will likely stop accepting applications for 35 year amortizations in advance of the March 18 cut off. Approved deals that close after March 18 can still have 35 year amortizations as long as the deal is approved by CMHC/Genworth prior to the date (assuming the lender accepts the deal). Call us if you want to find out how you can benefit from this change. Time is running out.

I will also be hosting a FREE Buyer’s Seminar on Saturday, Feb 19th from 2-3pm at the Royal Bank, 901 Jane Street , Toronto , M6N 4C6 . You will get an update on Financing, Free Government Programs for First Time Buyers that may help increase your down payment by 30% in 90 days, Other Government Incentives, Investing, Distress Sales and an Overview of the National and Local Real Estate Market. Please email me at Ruth@RuthBallantyne.com to register.

Here is some excellent information about the changes for you to review.

Third Best Year for Existing Home Sales

Third Best Year for Existing Home Sales

Greater Toronto REALTORS® reported 4,395 existing home sales for the month of December, bringing the 2010 total to 86,170 – down by one per cent compared to 2009.

“Market conditions were anything but uniform in 2010. We went from super-charged sales activity during the first four months of the year, to a marked drop-off in transactions in the summer and then in the fall saw sales climb back to levels that are sustainable over the longer term,” said TREB President Bill Johnston.

“New Federal Government-mandated mortgage lending guidelines, higher borrowing costs and misconceptions about the HST caused a pause in home buying in the summer. As it became clear that the HST was not applicable to the sale price of an existing home and buyers realized that home ownership remained affordable, market conditions improved,” continued Johnston.

The average home selling price in 2010 was $431,463 – up nine per cent in comparison to the 2009 average selling price of $395,460. In December, the average annual rate of price growth was five per cent.

“At the outset of 2010, we were experiencing annual rates of price growth at or near 20 per cent. This was the result of extremely tight market conditions coupled with the fact that we were comparing prices to the trough of the recession at the beginning of 2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“Balanced market conditions in the second half of 2010 resulted in more moderate home price appreciation,” continued Mercer. “Expect the average selling price to grow at or below five per cent in 2011. With this type of growth, mortgage carrying costs for the average priced home in the GTA will remain affordable for a household earning an average income.”

Median Price
In December, the median price was $355,000, from the $349,000 recorded during December of 2009.