Toronto Real Estate Board: GTA May Resale Housing Sales Higher Than Last Year
TORONTO, ONTARIO--(Marketwire - June 2, 2009) - In May 2009, Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 - the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,300(1).
"The resale housing market in the GTA has remained resilient in the face of challenging times globally," according to TREB President Maureen O'Neill. "Many home buyers have taken advantage of extremely low mortgage rates."
The average price for April transactions was $395,609 - down less than one per cent compared to the same month last year.
"The average resale home price has moved in line with last year's level because of tighter market conditions experienced this Spring," stated Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have increased strongly relative to new listings, bolstering home prices."
SUMMARY OF MAY SALES AND AVERAGE PRICE - 2009/2008
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May 2009
2009 2008
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Sales Average Price Sales Average Price
City of Toronto ("416") 3,777 $432,478 3,711 $434,271
Rest of GTA ("905") 5,812 $371,649 5,700 $374,629
GTA 9,589 $395,609 9,411 $398,148
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For a complete copy of the Market Watch Report visit www.TorontoRealEstateBoard.com
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I proudly server buyers and sellers in the Toronto Neighbourhoods of: 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.
Toronto's Harbour Front Board Walk
Toronto's Harbour Front is a great place to visit any day or evening of the week fro, spring to fall. There are free concerts, art exhibits, terrific restaurants, biking, boating, inline skating, ferry rides to the Toronto Islands, and people watching.Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
SELLERS IN TORONTO NEIGHBOURHOODS
The dollar value of homes sold this week in the East are up approximately 4% the North are up approximately 30% the Central area is up 4% and the West is up 2% for week ending May 28. The average price of all homes has increased approximately 4%.
The numbers of homes sold have increased. East up 23%, West up 31%, Central up 34% and North up 30%. The increase in total is up 29%.
| May 28, 2009 | |||
|
Region |
Area Sales |
Av. Price |
|
|
East |
554 |
$320,960 |
|
|
West |
913 |
$370,237 |
|
|
Central |
477 |
$509,497 |
|
|
North |
555 |
$424,665 |
|
|
Total |
2,499 |
$397,582 |
|
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 of: 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.
Casa Loma
Casa Loma is Toronto's most prominent historic residence, built from 1911 to 1914. Casa Loma is complete with decorated suites, secret passages, an 800-foot tunnel, towers, stables, and beautiful 5-acre estate gardens.
BUYERS IN TORONTO NEIGHBOURHOODS
SELLERS IN TORONTO NEIGHBOURHOODS
Sales Break 8,000 in April
May 6, 2009 -- In April 2009, Greater Toronto REALTORS® reported 8,107 sales - down seven per cent from April 2008. While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two-thirds compared to January's ten-year low.1
"Conditions in the resale housing market have improved markedly this Spring," according to TREB President Maureen O'Neill. "Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices."
The average price for April transactions was $385,641 - down three per cent from last year.
"The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market," stated Jason Mercer, TREB's Senior Manager of Market Analysis. "The level of sales relative to new listings increased in April."
1Seasonally adjusting TREB MLS® data removes recurring seasonal trends observed each year. For example, MLS® sales are highest in late spring each year and lowest in the winter months. Removing the recurring seasonality, allows for the analysis of a meaningful trend reflecting actual changes in market conditions. By multiplying the monthly seasonally-adjusted figure by 12, creating an annual rate, we can compare how the current month relates to historical annual figures.
Median Price
The median price in April was $330,000 from the $334,950 recorded in April of 2008.
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I proudly server buyers and sellers in the Toronto Neighbourhoods of: 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.
HARBOUR FRONT
Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
SELLERS IN TORONTO NEIGHBOURHOODS
Your smile for the day
Your House As Seen By:
Yourself...
Your Buyer...
Your Lender...
The Tax Assessor
Truth or fiction?
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I proudly server buyers and sellers in the Toronto Neighbourhoods of: 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.
Casa Loma
Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
SELLERS IN TORONTO NEIGHBOURHOODS
My question to the Seller is-why did you hire that Listing Agent if they were going to charge another agent to sell the listing?
Did your agent disclose the fact that they were going to charge a marketing fee? Did you Mr./Mrs. Seller know that that marketing fee could negatively impact your listing, no showings or reduced shoings?
The marketing fee is found on the Broker's portion of the listing and these are just a few examples of how it looks when a realtor sees your listing. Note:The 2.5% is what the Selling Broker gets, and that is on the MLS Agreement you signed, but the -$50, or -$300 or -$100 is the amount being deducted from the Selling Brokerage commission and probably was not disclosed to you.
| 2.5% -$50 |
| 2.5% -$300 |
| 2.5$-$100 |
We all know that the Code of Ethics forbids us from "black-balling" a listing. Let's get real. If there are 5 listings in a given area that an agent is looking at to show, 4 do not have a marketing fee and 1 does. Is the Selling Agent going to bother showing the one with a fee, unless it is written up to pre-sell that it can not be passed over?
I think that agents should fully disclose what the Listing Brokerage receives, what the Selling Brokerage receives and what the Listing Agent is going to charge (if any) another agent for selling their listing .</ p>
Oh, by the way, Mr/Mrs Seller-did you get an accounting of exactly what your agent is going to do for you to market your property. That marketing fee might just be a money grab and your listing agent just puts your property on MLS and hopes it will sell.
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I proudly server buyers and sellers in the Toronto Neighbourhoods of: 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.
Casa Loma
Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
SELLERS IN TORONTO NEIGHBOURHOODS
I am an award winning Real Estate Broker in Toronto, Ontario Canada for over 21 years. I sell all over Greater Toronto with my son Jeremy. Representing buyers and sellers. "PLANTING ROOTS"
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