Thursday, June 11, 2015

Million dollar homes in Canada are not as common as you think

Hello from Beautiful Mississauga!

I just read this article in the Financial Post, the million dollar homes are not as common as you would think

Enjoy!
Mark


The Canadian Association of Accredited Mortgage Professionals has analyzed data of some 1,400 home sales over the past 27 months and reports the following:
  • Only 1 percent of homes across the country — including condos, semis and detached homes — sell for $1 million or more.
  • Only 2 percent of detached homes across the country sell for $1 million or more — and the vast majority, 83 percent, sell for under $500,000.
  • Only 3 percent of homes in Ontario — the province with the largest share of million-dollar homes — sell for $1 million or more.

 This graph below shows average prices in GTA for single family homes:
 Read more about average prices in the GTA
Even in Metro Vancouver, a city where buying real estate has been compared to gold hoarding, nearly 70 percent of all sales clock in below $800,000.

That is: The average detached home may now run you $1.4 million, but most people are buying townhouses, which average between $300,000 and $800,000, or condos, which tend to fetch between $200,000 and $600,000.


Read the entire article at this page: million-dollar homes are not the new normal.

I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Wednesday, June 10, 2015

Toronto versus Vancouver Real Estate Prices as of June 2015

Hello from Beautiful Mississauga

I was reading about real estate prices and comparisons between Toronto and Vancouver.  Suddenly, Toronto rose quicker than Vancouver last month.

Some of the figures were:

In the Greater Toronto Area

  • year-over-year monthly home sales rose 6.3 percent to 11,706 in May
  • while home prices climbed 11 percent to $649,599
  • Detached homes outpaced the average, up 13.9 percent in the GTA to $829,792
  • Detached home prices were up 18.2 percent in the downtown core to $1,115,120


In Metro Vancouver

  • year-over-year monthly home sales rose 23.4 percent to 4,056 in May
  • while home prices climbed 9.4 percent to $684,400
  • Detached homes again outpaced the average, up 14.1 percent in the metropolitan area to $1,104,900
  • Detached home prices were up 14.4 percent in Vancouver West to $2,554,900.



I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com
  • Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    www.mississauga4sale.com/internet-evaluation.htm
  • Power of Sales and Foreclosureswww.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
  • If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
    www.mississauga4sale.com/popupquestion.htm
  • See seasonal housing patternswww.mississauga4sale.com/TREBprice.htm

Monday, June 08, 2015

June 2015 Market Watch Report for Toronto and GTA - sales figures are in for last month

Hello from Beautiful Mississauga!

The Toronto Real Estate Board released its latest figures for the Toronto and GTA real estate marketplace.
  • The Average price for last month was $649,599 (it was $613,933 the previous month) and this represents aver a 11% increase compared to the same month last year- see graph of prices here
  • Sales volumes were 11,706 (it was 8,940 last month) and this is UP 6.3% from the same month last year 
  •  The Bank of Canada Prime Lending Rate shocked the experts and lowered the rate to 2.75% in January 2015 read more


Read more about average prices and read the TREB full price and data report below.


This is the press release from TREB

All the best!
Mark



A New Sales Record for the Month of May


June 3, 2015 -- Toronto Real Estate Board President Paul Etherington announced 11,706 sales reported by Greater Toronto REALTORS® in May 2015. This result was up by 6.3 per cent in comparison to 11,013 sales reported in May 2014. For the TREB market area as a whole, sales were up for all major housing types. However, in the City of Toronto, where the supply of low-rise listings has been constrained, sales were down for detached homes.


“During my tenure as TREB President over the past year, it is clear to me that ownership housing remains top of mind as a quality long-term investment for GTA households. This is why, despite a shortage of listings in some market segments, we experienced a record number of sales reported through TREB’s MLS® System for the month of May,” said Mr. Etherington.


Record May transactions, coupled with a dip in the number of homes available for sale, resulted in strong price growth. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent year over year in May. The MLS® HPI uses benchmark homes to estimate price growth. This allows for an “apples to apples” comparison of price growth that is not affected by changes in the mix of sales activity.


The average selling price for all home types combined in May 2015 was up by 11 per cent annually to $649,599. The higher annual rate of average price growth compared to the MLS® HPI Composite Benchmark points to the fact that the proportion of high-end home sales continued to be greater compared to 2014.


“Tight market conditions, especially for singles, semis and town homes in the GTA, have resulted in strong price growth regardless of the price metric being considered. With no relief so far on the listings front, expect similar rates of price growth as we move through the remainder of 2015. At this point, a number of months where listings growth outstrips sales growth would be required to satisfy pent-up demand,” said Jason Mercer, TREB’s Director of Market Analysis.


I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com
  • Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    www.mississauga4sale.com/internet-evaluation.htm
  • Power of Sales and Foreclosureswww.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
  • If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
    www.mississauga4sale.com/popupquestion.htm
  • See seasonal housing patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 


Saturday, June 06, 2015

Graph of the Latest Real Estate prices in Toronto and GTA

Hello from Beautiful Mississauga!

See the latest news at this page:




I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com