Evan Sage, Toronto Real Estate Agent » News

Autumn Market Going Strong

Evan — Fri, 21 Mar 2008 22:36:25 +0000

September 20, 2007 — With 3,236 sales so far this month, re-sale housing activity has increased 11 per cent as compared to the first half of September 2006, Toronto Real Estate Board President Maureen O’Neill announced today.

The past five consecutive months have been record-breakers and September is on track to follow suit. It is four per cent ahead of the 3,112 recorded during the first half of September 2005, which became the best September ever.

“Some economists who predicted a soft landing may have to revise their forecasts, said O’Neill. The real estate market continues to prove its strength month after month. There simply is no better investment.”

The average price for a home in the Greater Toronto Area currently stands at $364,364, an increase of nine per cent compared to first half of September 2006.

Neighbourhoods throughout the Greater Toronto Area reported strong sales in the first two weeks of this month.

July: More Records Broken

Evan — Sat, 25 Aug 2007 18:48:30 +0000

August 2, 2007 — TREB Members reported 8,912 total sales in July, 26 percent ahead of the 7,082 sales recorded in July of 2006, and an all time record for the month.

Furthermore, July makes the fourth month in a row that sales have broken monthly records. “The local resale market is as healthy as it has ever been,” said TREB President Donald Bentley. “Not only are we running 13 per cent ahead of last year’s January – July total of 52,682, we are running 14 per cent ahead of the seven month total for 2005, which became our best year ever.”

While sales have set a blistering pace, prices eased in July, down two per cent to $366,012 from June’s average of $373,719. “This decline is seasonal in nature,” said the President. “Prices tend to ease in July/August as potential homebuyers and sellers go on holiday.” He went on to note that the year-to-date average, at $373,326, was up five per cent over the same time-frame in 2006.

Breaking down the total, 3,424 sales were reported in TREB’s 28 West districts and averaged $347,978; 1,590 sales were reported in the 14 Central districts and averaged $470,464; 1,797 sales were reported in the 23 North districts and averaged $392,360; and 2,101 sales were reported in TREB’s 21 East districts and averaged $293,819.

$15.8 Million New Record for Residential Property

Evan — Mon, 23 Jul 2007 17:01:51 +0000

Toronto Forest Hill home sells for $15.8 million believed to be a new record selling price for a residential property in Toronto.

Situated on Dunvegan Rd, this home boasts eight bedrooms, 13 washrooms and an indoor six-car garage. It was the former home of George Eaton, founder of the Eaton’s department store chain.

If the new proposed Toronto City land transfer tax had passed, the new buyers would have had to pay an extra $312,000 in Land transfer tax alone.

This sale shows the strength in the Toronto Real Estate market and I will continue to watch for new records in the Toronto home and condo market.