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

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Another record setting month on the Toronto Real Estate Board for Residential Real Estate Sales

Greetings from Fabulous Mississauga!

We just experienced another record setting month on the Toronto Real Estate Board for residential real estate sales.  The number of sales was 11,303, 17% higher than same month last year.  Average prices are also at all time highs.

• The Average price for last month was $635,932 (it was $613,933 the previous month) and this represents aver a 10% increase compared to the same month last year- see graph of prices here
•  Sales volumes were 11,303 (it was 8,940 last month) and this is UP 17% from the same month last year 
•  The Bank of Canada Prime Lending Rate steady at 2.75% read more

See all the graphs and read more at this page 

Below is the full price and data report from TREB for last month

Record Sales in April 2015

TORONTO, May 5, 2015 – Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 11,303 sales in April 2015.

This was the highest sales result on record for the month of April and represented a 17 per cent increase in comparison to April 2014. While sales increased strongly on a year-over-year basis, new listings were up over the same period by a more moderate five per cent.

“The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality, long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types.

First time buyers and existing homeowners remain very active in today’s market,” said Mr. Etherington.

The overall average selling price, which accounts for all homes reported sold by GTA REALTORS® in April 2015, was up by 10 per cent year-over-year to $635,932. The MLS® Home Price Index (HPI) Composite Benchmark, which estimates the price of a benchmark home with the same attributes from one period to the next, was up by 8.4 per cent over the same period.

The fact that average price growth outpaced growth for the MLS® HPI Composite Benchmark, suggests that a greater share of higher-end homes changed hands this year compared to last.

Irrespective of the indicator used, price growth in the GTA was strongest for low-rise home types. However, the better supplied condominium apartment segment also remained healthy with price growth above the rate of inflation.

“Demand for ownership housing was very high relative to the number of homes available for sale in April. This situation is not expected to change markedly as we move through the remainder of 2015. Until we experience a sustained period in which listings grow at a faster pace than sales, annual rates of home price growth will remain strong,” said Jason Mercer, TREB’s Director of Market Analysis.

See all the graphs and read more at this page

All the Best!

Mark

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.comMississauga4Sale.com

• Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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April 2015 Real Estate Market in Mississauga and the GTA Highlights All sales graphs pricing data

Highlights from April 2015 Real Estate Market in Mississauga and the GTA

April 2015 News 

Greetings from Fabulous Mississauga!

• The Average price for last month  was $613,933 (it was $596,163 the previous month) and this represents aver a 10% increase compared to the same month last year-see graph of prices here
• Sales volumes were 8,940 (it was 6,338 last month) and this is UP 11% from the same month last year 
• The Bank of Canada Prime Lending Rate recently dropped to 2.75% read more

See this graph below and all other information for last month showing the average prices and sales data

All the best!

Mark

This is the full press release for results from last month

TORONTO, April 7, 2015 –

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 8,940 sales in March 2015.

This result represented an 11 per cent increase compared to March 2014. Sales were up for most major home types, both in the City of Toronto and the surrounding regions. New listings were also up, but by a lesser 5.5 per cent, indicating tighter market conditions.

“Home sales increased compared to last year as the cost of home ownership remained affordable, with lower interest rates going a long way to mitigate the effect of rising home prices. However, a substantial amount of pent-up demand remains in place, especially as it relates to low-rise market segments.

This suggests that strong competition between buyers, which has fuelled strong price growth so far this year, will continue to be experienced throughout the spring,” said Mr. Etherington. In March, the average selling price for all reported transactions was $613,933 – up 10 per cent year-over-year.

The MLS® HPI Composite Index, which tracks benchmark homes with the same attributes from one period to the next, was up by 7.9 per cent. Average price growth was strongest for detached homes in the City of Toronto, at 15.9 per cent.

Over the same period the detached MLS® HPI in the '416' area code increased 7.8 per cent. The MLS® HPI provides a clear indication of price growth due to market forces - the relationship between demand and supply.

Comparing MLS® HPI growth to average price growth provides a sense of the changing mix of home types sold from one period to the next. "It is clear that seller's market conditions in many parts of the GTA are driving price growth.

However, looking at the detached market segment in the City of Toronto in particular, growth in the average selling price outstripped growth in the MLS® HPI.

This points to the fact that the mix of detached homes sold this year compared to last has shifted towards more expensive properties," 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.comMississauga4Sale.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
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First time in Toronto the Average Detached Sold Price above $1 million dollars

Hello from Beautiful Mississauga!

This is breaking news: First time in Toronto the Average Detached Sold Price above $1 million dollars!

This is for detached homes in Toronto, not the GTA, but this represents a milestone in the Toronto Real Estate Market

See the full press release below.

Please refer to this page to see a graph of Average prices and More

All the Best!

Mark

TORONTO, March 4, 2015 – Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 6,338 home sales through the TorontoMLS system in February 2015.

This result represented a substantial 11.3 per cent year-over-year increase compared to February 2014. Large annual increases in transactions were noted for most major home types, in the City of Toronto and surrounding GTA regions.

“Even with the record low temperatures last month, we still saw an increase in the number of people purchasing homes in the GTA. This speaks to the importance households place on home ownership and the fact that buyers continue to view ownership housing as a quality long-term investment in which they can live,” said Mr. Etherington.

The overall supply of homes for sale, as measured by the count of active listings at the end of February 2015, was down by 8.7 per cent compared to the same count in February 2014. This means that market conditions became tighter, leading to more competition between buyers.

The overall average selling price for February 2015 home sales was $596,163 – up by 7.8 per cent compared to the average for February 2014. Driving this increase was the detached market segment.

In the City of Toronto, the average detached selling price moved above $1 million dollars for the first time in a calendar month.

“The strong year-over-year price growth we experienced in February points to the robust demand for ownership housing in the GTA, coupled with a constrained supply of homes for sale in some market segments, especially where low-rise home types like singles, semis and townhouses are concerned,” 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.comMississauga4Sale.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
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Toronto Real Estate Board 2014 Real Estate Sales Results

Hello from Beautiful Mississauga!

The report from TREB for the 2014 Real Estate Sales is in the books.

Average prices rose 8.4% to $566,726

The number of sales rose 6.7% to 92,867

This was just short of the all time record reported in 2007

The full press release is below.

You can see graphs of prices at this page:

www.mississauga4sale.com/TREBprice.htm

Let's hope for another good year in 2015!

All the best,

Mark

Near Record Sales in 2014

January 7, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 92,867 residential sales through the TorontoMLS system in 2014, including 4,446 in December. The calendar year 2014 sales result represented a 6.7 per cent increase over the 2013 sales figure of 87,049 and was just short of the record set in 2007.

"TREB's 2014 sales figures are a testament to the importance Greater Toronto Area households continue to place on home ownership. GTA households realize that home purchases have been a quality long-term investment. While home prices certainly increased substantially in 2014, the purchase of an average priced home remained affordable, in terms of the average household's ability to comfortably cover their monthly mortgage payments," said Mr. Etherington.

"Even with a constrained supply of homes for sale in many parts of the Greater Toronto Area, buyers continued to get deals done last month. Households remain upbeat about home ownership because monthly mortgage payments remain affordable relative to accepted lending standards. This is coupled with the fact that housing has proven to be a quality long-term investment," stated Mr. Etherington.

The average selling price continued to grow on a year-over-year basis in calendar year 2014, with an 8.4 per cent increase over calendar year 2013 to $566,726. This included a seven per cent increase in the December 2014 average selling price to $556,602. Throughout 2014, annual increases in the average selling price and the MLS® HPI Composite Benchmark were consistently reported on a monthly basis for most market segments, from detached homes through to condominium apartments.

"The strong price growth we experienced in 2014 can be explained with two words: listings shortage. The constrained supply of listings was especially evident for low-rise home types like singles, semis and town houses. The number of households looking to purchase these home types increased, while the number of homes from which they could choose decreased. This situation resulted in more competition between buyers and more aggressive offers," 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.comMississauga4Sale.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
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TREB reported March 2014 single family residential home sales in Toronto and the GTA Sales and Average Price Up in March

TREB reported March 2014 single family residential home sales in Toronto and the GTA

 

last months highlights were:

 

• average prices up 8.5% to $557,684
• sales volumes were up 7.2% to 8,081

 

See graphs and information at this link:

 

http://www.mississauga4sale.com/TREBprice.htm

 

See the full report below,

Mark

 

 

Sales and Average Price Up in March

 

TORONTO, April 3, 2014 – Toronto Real Estate Board President Dianne Usher announced that Greater Toronto Area REALTORS® reported strong year-over-year increases in TorontoMLS home sales and the average selling price in March 2014. Home ownership affordability, backstopped by low borrowing costs, continued to be a key factor underlying this growth.

 

A total of 8,081 sales were reported in March 2014 – up by 7.2 per cent in comparison to March 2013. Sales growth was much stronger in March compared to the first two months of the first quarter. Sales for Q1 as a whole were up by three per cent compared to the first three months of 2013.

 

“Sales activity in the GTA accelerated last month. Compared to last year, a greater number of buyers found affordable home ownership options, as evidenced by sales growth for all major home types. Against this backdrop, however, overall inventory at the end of March remained lower than last year. This means competition between buyers increased, which is why the average selling price continued to climb,” said Ms. Usher.

 

The average selling price for March 2014 sales was $557,684 – an increase of almost eight per cent compared to the average reported for March 2013. The average price for the first quarter of 2014 was up by 8.5 per cent year-over-year.

 

“With borrowing costs remaining low, and in fact declining, strong home ownership demand will continue to butt up against a constrained supply of listings. Strong price growth will be the result for the remainder of 2014. If the pace of price growth experienced in the first quarter is sustained, TREB may revise its outlook for the average selling price,” said Jason Mercer, TREB’s Senior Manager 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 ?
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February Report Residential Real Estate Market in the GTA TREB report for January 2014

Below is the report from TREB for the January 2014 Residential Real Estate Market in the GTA

 

January 2014 Sales volumes were down 2.2% compared to January 2013

January 2014 Average price was $526,528 up by more than 9% from $482,080 in January 2013

 

The full report is below

Mark

 

 

GREATER TORONTO REALTORS® REPORT LATEST MONTLY RESALE MARKET FIGURES

 

TORONTO, February 5, 2014 –

 

Home ownership in the Greater Toronto Area remains affordable and there are many people looking to purchase a home.

 

In January, the number of homes listed for sale was down quite strongly compared to last year, which means that it was difficult for some buyers to find a home.

 

Greater Toronto Area REALTORS® reported 4,135 sales through the TorontoMLS system in January 2014. This result was down by 2.2 per cent in comparison to January 2013. New listings entered into the system were down over the same period by 16.6 per cent to 8,822.

 

“Looking forward, it is possible that strong price growth, and therefore an increase in home equity, will act as a trigger for more households to list their homes for sale. This is especially the case for households whose life styles are changing, including those with an expanding family looking for a larger home or empty nesters looking to downsize,” said Dianne Usher, President, Toronto Real Estate Board.

 

The average selling price for January 2014 sales was $526,528 – up by more than nine per cent compared to $482,080 in January 2013.

 

“The pace of price growth will remain strong in 2014. Similar to last year, competition between buyers for singles, semis and town homes in the City of Toronto and surrounding regions will continue to exert upward pressure on selling prices. At the same time, mortgage rates will remain near historic lows, so despite strong price growth, home ownership will remain affordable for the average household in the GTA,” said Jason Mercer, TREB’s Senior Manager 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.comMississauga4Sale.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
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Mid January 2014 sales figures report from the Toronto Real Estate Board

This is the mid-month report from the Toronto Real Estate board with regards
to sales figures



In summary:

* transactions for first two weeks of 2014 are down approximately 8% compared to first two weeks of 2013

* new listings were down about 20%

* average selling price was up by about 12% compared to same period 1 year ago

See full report and statistics below.

Mark


GTA REALTORS(r) RELEASE MID-MONTH RESALE HOUSING FIGURES

TORONTO, January 17, 2014 -



Greater Toronto Area REALTORS(r) reported 1,287 transactions through the TorontoMLS system during the first two weeks of 2014. This result was down by approximately eight per cent compared to 1,396 sales reported during the same period in 2013.

New listings entered into the system were down by a greater 20 per cent year-over-year.

"The expectation is that home sales through the TorontoMLS System will be up in 2014. This is because the cost of purchasing an average priced home, including mortgage payments, property taxes and utilities, will remain affordable for a household earning the average income in the GTA," said Toronto Real Estate Board President Dianne Usher.

"Aside from the fact that January sales from year-to-year tend to be volatile, the dip in sales during the first two weeks in January was likely due in large part to a lack of new listings. Quite simply, some would be home buyers could not find a home that met their needs," continued Ms. Usher.

The average selling price for the first 14 days of January 2014 was $515,990 - up by 12 per cent compared to the average price reported for the same timeframe in 2013.

"The average selling price in the GTA will continue to trend upward in 2014.

Listings will remain below the pre-recession peak and sales are expected to increase over 2013. This means that we will continue to see substantial competition between buyers for some home types and in some areas of the GTA," said Jason Mercer, TREB's Senior Manager 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 Foreclosures
www.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
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www.mississauga4sale.com/TREBprice.htm
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TREB Real Estate Report for 2013 Final Figures

Below is the latest release of figures for December 2013 and finalizes the figures for averages for 2013

Our market was off to a slow start last year due to an uneasy economic outlook and the fiscal cliff drama in the USA.

We recovered from the slow start and 2013 ended up being a good year for sales and prices in the GTA.

See more at this page about average prices and read the press release below.

Thanks!

Mark


GTA REALTORS(r) Report Monthly Resale Housing Market Figures


TORONTO, January 6, 2014 - Greater Toronto Area REALTORS(r) reported 4,078 residential transactions through the TorontoMLS system in December 2013 - up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012.

"After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012.

Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014," said Toronto Real Estate Board President Dianne Usher.

"The average selling price will be up again in 2014 and by more than the rate of inflation. The seller's market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory," said Jason Mercer, TREB's Senior Manager of Market Analysis.

The average selling price for December 2013 sales was $520,398 - up by 8.9 per cent compared to the average of $477,756 in December 2012.

The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.


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 Foreclosures
www.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 patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Toronto Mississauga and GTA Real Estate Market in 2014

This is what we are anticipating and what I'm seeing for the real estate market in 2014

The December results are not out yet, but many are speculating it was a 'normal' December, the slowest month of the year, but typical. January 2014 (now) is not beginning with a boom, but it could also be the ice cold temperatures - we are all hoping for some improvement in the weather and the real estate market in the coming weeks and look for February to be one of the strongest months of the year to sell!

Our fall market did not perform as well as everyone expected. TREB and many financial people are predicting that prices will rise again in 2014, anywhere from 3 to 6% - only time will tell on this.

See a graph of how the market performs throughout the year, up in spring, down in summer, up in fall, down in winter, but always on the upslope:

http://www.mississauga4sale.com/TREBavg1995date.htm

See this graph on how steep the increase has been of late:

http://www.mississauga4sale.com/TREBprice.htm#graph

or just the graph:

http://www.mississauga4sale.com/avgprices.JPG

We anticipate that late January into February will be a very good time to sell as there will be low supply and higher demand, this should work well for sellers.

We will be working feverishly to market and promote your property as best as we can to take advantage of the marketplace and get it sold at the best price and terms possible.

Please let me know if you have any other questions or if there is anything else I can help you with.

Thank you,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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Toronto Real Estate Board Mid month report for the housing sales in June 2013

Below is the report and the figures for the mid month results from the Toronto Real Estate board for the
housing sales in June 2013

You can see that sales are up by about 5% and average selling price up
nearly 4% compared to June of 2012

All the best!
Mark

GTA REALTORS(r) RELEASE MID-MONTH RESALE HOUSING FIGURES


TORONTO, June 18, 2013 - Greater Toronto Area REALTORS(r) reported 4,620 sales through the TorontoMLS system during the first two weeks of June 2013.

This result was up by 4.7 per cent compared to the first two weeks of June
2012.

Year-over-year sales growth was driven by the regions/counties surrounding the City of Toronto.

Home sales in the City were basically flat in comparison to last year.

"The expectation was for an improvement in home sales in the second half of 2013. Early June results are in line with this outlook. Many households have adapted to stricter lending guidelines and have renewed their search for ownership housing," said Toronto Real Estate Board President Ann Hannah.

"It is also important to note that new listings were down over the same period. With sales up and new listings down, market conditions became tighter. This supports the moderate to strong rates of price growth reported for most major home types, including condominium apartments," added Ms. Hannah.

The average selling price for the first fourteen days of June was $536,141 - up by 3.8 per cent compared to June 2012.

"While price growth has been driven by low-rise home types this year, condominium apartment price growth has improved since March. Despite higher inventory levels, there have been enough buyers relative to available listings to support condo price appreciation," said Jason Mercer, TREB's Senior Manager 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 Foreclosures
www.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 patterns
www.mississauga4sale.com/TREBprice.htm


* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Average home prices up, sales down - TREB housing figures for April 2013 - May 2013

This is the latest report from TREB for GTA monthly housing sales for May 2013

see Graphs and all the details at this page


GTA REALTORS(r) RELEASE MONTHLY RESALE HOUSING FIGURES

TORONTO, May 3, 2013 - Greater Toronto Area REALTORS(r) reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis.

"Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year," said Toronto Real Estate Board President Ann Hannah.

"It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy," continued Ms. Hannah.

The average selling price for April 2013 transactions was $526,335 - up by two per cent in comparison to April 2012. The MLS(r) HPI Composite Benchmark Price was up by 2.9 per cent.


"The condominium apartment segment in the City of Toronto was a key driver of price growth in April, with both the average selling price and the MLS HPI apartment index up on a year-over-year basis. The improved condo sales picture, with Toronto sales down by only one per cent compared to last year, suggests that interest in condo ownership may be improving," said Jason Mercer, TREB's Senior Manager of Market Analysis. Summary of TorontoMLS Sales and Average Price April 1 -



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 Foreclosures
www.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 patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Mississauga Condo rental properties - does supply determine market value rent?

Rental properties - Does supply of properties affect their demand
The supply and demand for rental properties determines the market value rent. I've written a little about rental prices in the past at my blog, see one post here.

http://blog.mississauga4sale.com/search/label/rental-market

The supply of condos is quite high at the moment, meaning that this may put downward force on rental rates for condos, not upward. TREB feels that the higher inventory has not had a negative effect on the rental market rents.

The trend for condo rental prices has generally been up for the past 10 years, similar to the sale market. Unfortunately, prices have escalated far more than rental rates and therefore, even with our current low interest rates, you need to put a much larger percentage downpayment now on a condo in order for the rent to carry the carrying costs.

Please let me know if you have any other questions or require further
information.

Thank you,

Mark

TREB April 2013 residential real estate results average prices up about 3.8% and volume of sales down about 17% for March 2013 compared to March 2012

The figures for March are now out from TREB

Average prices up about 3.8% for March 2013 compared to March 2012

Volume of sales is down about 17% comparing year over year.

See the full report below:

Average Price up in March and First Quarter


TORONTO, April 3, 2013 – Greater Toronto Area REALTORS® reported 7,765 transactions

through the TorontoMLS system in March 2013 – down 17 per cent compared to 9,385 transactions in March 2012. While the year-over-year dip in March sales followed the trend that has unfolded since mid-way through 2012, it is also important to note that the Good Friday holiday was in March this year versus April in 2012.

Generally speaking, there are fewer sales reported on statutory holidays and weekends.

In the first quarter of 2013, sales amounted to 17,678 – down by 14 per cent compared to Q1 2012.

"Home ownership remains affordable for a household earning the average income in the Greater Toronto Area. There are many willing buyers in the marketplace today. While some households have put their decision to purchase on hold as a result of stricter lending guidelines or the additional Land Transfer Tax in the City of Toronto, other households simply haven’t been able to find the right house due to a shortage of listings in some market segments," said Toronto Real Estate Board President Ann Hannah.

The average selling price in March was $519,879 – up by 3.8 per cent compared to March 2012. The average price in Q1 2013 was $508,066 – up by 3.2 per cent compared to the first quarter of 2012.

"The average selling price and the MLS® Home Price Index Composite Benchmark was up on a year-over-year basis across most home types, especially in the low-rise market segments where supply remains an issue. TREB's average price forecast for 2013 remains at $515,000, representing a 3.5 per cent

See graphs of prices and trends at this page


For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com