July 23, 2009
Region	Area Sales	Av. Price	$
East	939	$338,510
West	688	$394,467
Central	337	$552,615
North	283	$437,564
Total	1,701	$420,041

The average sale price of homes has risen by $7,151 since September.

NOTE: Please note these are preliminary figures. Minor adjustments may be required at month's end.

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I proudly server buyers and sellers in the Toronto Neighbourhoods -Toronto Neighbourhood Mapsof: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I am never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882

TORONTO REAL ESTATE WEBSITE

BUYING

SELLING

Date Released: Nov 2, 2009

 

C a n a d a M o r t g a g e  a n d  H o u s i n g C o r p o r a t i o n

Fourth Quarter 2009                            

Housing starts:

After a slow start in 2009, housing starts will become stronger by the end of 2009 and average 141,900 units. In 2010, starts will increase to approximately 164,900 units.

Resales:

Sales of existing homes through the Multiple Listing Service® (MLS®) have become more robust since the start of 2009. The strong pace of resales reflects, in part, activity that was delayed in the previous two quarters of 2009 and is likely not to be sustained. MLS® resales will be about 441,300 units for 2009, up from 433,990 units in 2008. As far as 2010 is concerned, there will be approximately 445,150 units sold.

Resale prices:

After a few years of strong gains, the average MLS® price moderated in 2008 to $303,607. Recently, however, average prices have recovered. The average MLS® price is expected to increase to $312,950 in 2009 and to $324,500 in 2010.

Ontario Spotlight:

in Ontario will move lower to 47,400 units in 2009 while 2010 will see a strong improvement to 56,500 units. Multiple-family starts will decrease in 2009 to 26,500 units before reaching 32,900 units in 2010.

New home constructionOntario new home construction will trend higher and move closer to demographic demand by the 2011 to 2013 period. New home construction will reach 66,500 units by 2013, upfrom 47,400 units in 2009. A numbe rof factors will support housing starts. Firstly, an improving economic outlook will stimulate labour markets and add to demand for both resale and new housing. Young adults who are part of the "echo boom" generation will be growing in size and improved job prospects will encourage them to leave the parental home to form new households. Household formation will also be supported by stronger immigration. More recent immigrants who have settled in Canada have shown increasing propensities to purchase homes. Finally, unsold inventories of new homes have stabilized. Builders have avoided excess building. As a result, as demand improves, builders will need to satisfyincreasing sales through additional new home construction.

 

Overview

Ontario's economy will gradually recover later this year and will grow by 2.2 per cent in 2010. Key to a sustainable Ontario economic recovery is improving US business and consumer spending and a pickup in provincial exports which comprise a sizable share (55%) of Ontario's GDP.

Meanwhile, U.S. consumer rebate programs for housing and motor vehicles will help stabilize output in key Ontario forest product and auto sectors. While employment willmoderate in 2009, recent business outlook surveys indicate that employers expect a pickup in demand for their products. Overall, a gradual recovery in Ontario labour markets  can be expected as companies look to replenish inventories through 2010. Stronger labour markets in 2010 will lend some support to Ontario economic growth

 

In Detail

 

Single Detached Starts:

Single starts have begun to recover and will continue to trend higher until the mid point of 2010. Single starts will be 20,900 this year and 23,600 units next year, thanks to improving economic conditions and declining inventories. As home prices and mortgage carrying costs rise, demand for more expensive housing will moderate in the second half of 2010.

Multiple Starts:

Multi-family home construction will grow to reach 26,500 units this year and 32,900 units for 2010. Construction will be boosted by semi-detached and townhome starts, which represent a more affordable option, particularly when home prices are rising. A backlog of apartment unit sales that have yet to commence construction, combined with low rental apartment vacancy rates, will also support the construction of multi-family units.

Resales:

Ontario existing home sales have staged a strong come back since the early part of the 2009. Sales this year will reach 183,900 units and will be on par with activity in 2008. The strong pace seen in recent quarters reflects, in part, improved affordability conditions. Also, home purchases that were delayed during the onset of the global downturn last fall are now going forward. The level of sales will not likely be sustained and will move better in line with economic fundamentals. Home sales will stabilize and will reach 175,250 units in 2010.

Prices:

After experiencing buyers market conditions in early 2009, Ontario resale markets have tightened and balanced market conditions will be restored. As a result, Ontario existing home MLS® prices will grow to $314,550 this year and to $326,800 next year.

 

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I proudly server buyers and sellers in the Toronto Neighbourhoods -Toronto Neighbourhood Mapsof: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I am never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882

TORONTO REAL ESTATE WEBSITE

BUYING

SELLING

Queen's Park October

Ontario housing conditions will stabilize

Stable economic conditions across the province will help stabilize housing demand in 2010 according to the 2009 Third Quarter CMHC Housing Market Outlook - Canada Edition.

Highlights of the Ontario forecast include:

• The Ontario economy will stabilize at year end before gradually recovering in 2010

• Ontario resale volumes will stabilize and range between 160,000 and 190,000 unit sales this year and next - reaching 174,000 units in 2009, and 166,750 units in 2010.

• Resale volumes will be down from the peak in 2007 but will be in line with volumes earlier this decade.

• After experiencing buyers market conditions early this year, balanced market conditions will be sustained through 2010 – prices will rise by 1.6 per cent and 0.8 per cent this year and next respectively.

• After declining in 2009, new home starts will edge up and reach 50,000 units in 2010 but owing to economic uncertainty will range between 45,800 and 60,000.

• High levels of affordability will support demand for detached housing in the immediate term but a shift to more inexpensive multi-family housing will occur as affordability erodes in late 2010.

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I proudly server buyers and sellers in the Toronto Neighbourhoods -Toronto Neighbourhood Mapsof: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I am never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882

TORONTO REAL ESTATE WEBSITE

BUYING

SELLING

Strong Sales Increases Continue in September

GTA Housing Market Rebound Continues in September
October 5, 2009 -- 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 outpace 2008 results," said TREB President Tom Lebour. "Consumers have remained confident in ownership housing as a long-term investment." Year-to-date sales, at 66,437 were up 4.5 per cent compared to the first nine months of 2008. Average price, at $388,417 was up by almost 1.5 per cent.

"Existing home sales will finish strong this year, pushing through the 80,000 mark and moving in line with some of the best years on record under the current TREB market area," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

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I proudly server buyers and sellers in the Toronto Neighbourhoods -Toronto Neighbourhood Mapsof: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I am never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882

TORONTO REAL ESTATE WEBSITE

BUYING

SELLING

Ban On Hand-Held Devices Starts In October

                            

 McGuinty Government Making Ontario's Roads Safer

Ontario's ban on hand-held devices while driving will take effect on October 26, 2009.

The new law will make it illegal for drivers to talk, text, type, dial or email using hand-held cell phones and other hand-held communications and entertainment devices.

Following a three-month period that begins October 26, where the focus will be on educating drivers, police will start issuing tickets on February 1, 2010.

Studies show that a driver using a cell phone is four times more likely to be in a crash than a driver focused on the road.  Other studies show that dialing and texting carries the highest degree of risk of all cell phone-related activities.

Police, paramedics and firefighters will continue to be allowed to use hand-held devices when performing their duties. All drivers may use hand-held devices to call 9-1-1. 

QUICK FACTS

 

• Under Ontario's new law, fines of up to $500 can be levied against distracted drivers who text, type, email, dial, or chat using a prohibited hand-held device.
• Ontario joins more than 50 countries worldwide and a growing number of North American jurisdictions that have similar distracted driving legislation including Quebec, Nova Scotia, Newfoundland and Labrador, California and New York.
• Teens and young people under 35 are the most frequent users of cell phones while driving.

LEARN MORE

 

• Read more about Ontario's new road rules for the use of wireless communication and electronic entertainment devices while driving, including exemptions.
• Review key research on the effects of driving while distracted.
• Read scenarios that show how drivers can make a few simple changes to comply with the new law.
• Find out more about the Countering Distracted Driving and Promoting Green Transportation Act, 2009.
• Watch a video that shows how distractions affect your driving.

CONTACTS

• Bob Nichols
  Communications Branch
  416-327-1158
  Bob.Nichols@nullontario.ca

• Nicole Lippa-Gasparro
  Minister's Office
  416-327-1815
  Nicole.Lippa-Gasparro@nullontario.ca

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I proudly server buyers and sellers in the Toronto Neighbourhoods -Toronto Neighbourhood Mapsof: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I am never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882

TORONTO REAL ESTATE WEBSITE

BUYING

SELLING