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


Wednesday, May 27, 2015

Bank of Canada Interest Rate Announcement May 27 2015 no change to Prime Rate

Good morning from Beautiful Mississauga!

The Bank of Canada announced today that it is maintaining its target for the overnight rate at 0.75 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent

This announcement of no change in the rate was expected by many economists.

Mortgage rates should remain where they are now, pending Bond Yield updates in the next weeks.

Read the entire report at this page:

http://www.bankofcanada.ca/2015/05/fad-press-release-2015-05-27/


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

Thursday, May 07, 2015

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





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.


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 ?
    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
 

Thursday, April 16, 2015

Bank of Canada announcement to keep the prime rate fixed at 0.75%

Good morning from Beautiful Mississauga!

The Bank of Canada announced April 15, 2015 that they will be keeping the prime rate fixed at 0.75% 

The Bank Rate (which is the rate that banks charge each other) is correspondingly 1 per cent and the deposit rate (the rate that the Bank of Canada pays/credits any deposits that it is holding for banks) is 1/2 per cent.  The Prime Rate to consumers is set by the major banks and it currently sits at 2.85%


See interest rate trends at this page 




http://www.bankofcanada.ca/2015/04/fad-press-release-2015-04-15/

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
  • 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
 

Monday, April 13, 2015

Number of High-Rise Condominiums and Townhomes for sale in the Square One City Centre Area and the Central Erin Mills area of Mississauga

There are many high-rise condos and townhomes for sale in the central City Centre (Square One) and Central Erin Mills areas of Mississauga - as of April 13, 2015 

This area is bounded by 403 to Webb Drive, Confederation to just east of Robert Speck Parkway, see the map below for exact boundaries.

The number of condos for sale in the City Centre area of Mississauga are:
·         bachelor condos for sale - 10
·         1 bedroom condos for sale - 208
·         2 bedroom condos for sale - 222
·         3 bedroom condos for sale - 12

The number of townhomes for sale in the City Centre area of Mississauga are:
·         bachelor condos for sale - 0
·         1 bedroom townhomes for sale - 7
·         2 bedroom townhomes for sale - 14
·         3 bedroom townhomes for sale - 8

Central Erin Mills is bounded by Britannia and the 403, Winston Churchill to Erin Mills on the east from Britannia to Thomas, then Thomas approximately over to the Credit river, see the map below

The number of condos for sale in the Central Erin Mills area of Mississauga are:
·         bachelor condos for sale - 0
·         1 bedroom condos for sale - 9
·         2 bedroom condos for sale - 10
·         3 bedroom condos for sale - 1

The number of Townhomes for sale in the Central Erin Mills area of Mississauga are:
·         bachelor condos for sale - 0
·         1 bedroom townhomes for sale - 1
·         2 bedroom townhomes for sale - 1
·         3 bedroom townhomes for sale - 16
·         4 bedroom townhomes for sale - 0

I will update this number from time to time to see if there is any trend up or down over time.

Have a great day!
Mark

City Centre Boundaries below

Central Erin Mills Boundaries below

Friday, April 10, 2015

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






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
  • 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
 

Wednesday, March 18, 2015

Bank of Montreal BMO announced a reduction to their interest rates yesterday and cut the 5 year rate to 2.79% from 2.99%

Good morning from Beautiful Mississauga!

The Bank of Montreal announced a reduction to their interest rates yesterday, they cut the 5 year rate to 2.79% from 2.99% TD Bank followed this rate cut

The Bank of Montreal announced a ‘special’ rate for its five-year fixed-rate loan and was quickly followed by Toronto-Dominion.


This is typical of the banks to do this just before the prime lending season!

The BMO deal cuts its standard rate of 2.99 per cent to 2.79 per cent. TD Bank followed by cutting its 3.09 per cent rate to match BMO.

Although mortgage brokers can frequently do better than the advertised rate from the banks, the BMO move is seen as a headline-grabber to steal a lead on competitors, including the smaller lenders and non-bank sector


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

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
  • 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
 

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
  • 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
 

Monday, March 02, 2015

When is the best time to sell your home in the GTA?

Hello,

I just read this article below that was sent to me by a client.

It contains great information about when to sell your home.

I've written about this in the past and you can read my thoughts about this subject at this link:


Enjoy!
Mark

Like everything in life, there are always exceptions to the rules.


Personally, I like these exceptions, as nothing is predictable – especially selling a house.

Still, it's good to know the basics, do your homework and factor in the required timelines.

Statistics show that spring is the best time to sell a house. You may read conflicting reports that will say March to May, or they may lump in April and July in to those calculations. However, with the recent real estate climate in the GTA, there really isn't a bad time. What you're selling can influence the time of year you choose to sell.

If you're listing a resale home, in order to buy a new home, you have to realistically factor in the closing date and, perhaps, add-on a bit of wiggle room. If you're listing a condominium or have to give the appropriate two-month notice to a landlord, you may not have to worry about the time of year as it relates to children starting school- unless the children are yours.

Starting a new school year at the beginning of September, and ensuring that kids can finish up the year at their old school, is one of the most important concerns for parents of school-age children. In this scenario, the family would prefer to move during the summer months, so count back and consider the following.

If your home is located in a family-friendly area, close to schools, shopping, etc., a new family will want to relocate during July or August.

Count back three months, as most offers ask for a 90-day closing. With this in mind, you'll want to have signed a deal by April. Again, if you're situated in the GTA, chances are that your home won't be on the market for long. But if you live in a rural area, or have a character property that’s quite different from the norm, you'll need to build in more selling time.

There are some advantages to listing your house earlier in the calendar year, rather than waiting for spring. Because the summer scenario is so popular, most people list their homes around April, which means there’s more competition. If you list your home in February, you may have other advantages.

During the winter months there's a lower supply of houses on the market. Also, maintaining your property requires less work on the outside at this time of year, since you don't have to tend gardens and keep the grass cut. Many of my clients have experienced a successful rate of return when they list in February.

Those people who are looking to buy in September or October may be looking for a better deal after the peak months have passed. Some agents will tell you that your house will sell quicker and closer to the asking price, if you list between Halloween and the New-year.

Homes look their best in the late summer and early fall. Gardens are mature, lawns (depending upon the weather) may be lush, and with a hint of autumn tingeing the air and the leaves, fireplaces can be lit and the ambiance created by indoor, and outdoor, lighting - all help to enhance the curbside appeal. Still, there are no hard and fast rules.

If you're selling and buying, it's always a juggle, so try not to have all your balls in the air at once.

Have a plan, and choose the timing that's right for you and your family.


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
  • 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