Toronto condo projects fuel August housing starts

Canada’s housing starts defied expectations in August, rising when economists were anticipating a decline, largely because of Toronto’s condo market. The seasonally adjusted annual rate of housing starts nationwide amounted to 224,900 units during the month, up from 208,000 in July, Canada Mortgage and Housing Corp. said Tuesday. The market had expected the figure to drop to 200,000 units, RBC economist David Onyett-Jeffries noted. But, … [Read more...]

Homes sales in GTA dropped in August, but average price still up

Home sales in the GTA may have dropped 12.5 per cent in August, but the average selling price was up by 6.5 per cent, according to the latest real estate figures. In York Region, the average price was $592,552, compared to the average price of $468,792 in the rest of the GTA. The number of new listings reported for the month was down 5.5 per cent compared to the same period last year. With both sales and new listings declining, market … [Read more...]

Hot Toronto market lures sellers to cash in as Vancouver cools off

Toronto’s booming housing market is enticing more sellers to list their homes, but the flood of new listings is not dampening prices. But in Vancouver, new sellers are increasingly scarce – as prices in the once-overheated market show signs of weakness. New listings jumped 12.3 per cent in Toronto over the 12 months leading up to June, as strong sales encouraged Sandra and Pete Davis in Toronto to put their home on the market. They were … [Read more...]

Toronto luxury home demand on the rise

As status symbols go, they don’t have as much flash as a sports car, but high-end househunters are looking for a different kind of luxury in Toronto’s top neighbourhoods these days — two laundry rooms. The well-heeled are also seeking out swimming pools — no matter how tiny — as well as home-office/homework rooms where they can catch up on work while keeping an eye on the kids. Wine cellars are being downsized, but not expectations, says … [Read more...]

Toronto home values up in January

Toronto home prices enjoyed upward momentum in January, rising 2.7% from the previous month and now 4.1% higher than a year earlier. The gains were highest in detached houses, but condos were also still higher in price than a year ago, according to the Toronto Real Estate Board’s January Market Watch report. Overall sales were also up 8.8% from a year ago. The average price of a detached home was $586,098 in January, up 8% from a year ago. … [Read more...]

House prices dip, but no crash in sight: Report

Toronto house sales are slowing, but economists are not predicting a crash in the real-estate market. The latest statistics from the Canadian Real Estate Association, released Monday, show that Toronto house prices dipped about 2.4 per cent in December over November, putting the average house at $466,540 when adjusted for seasonal fluctuations. Even with that slight decline, Toronto house prices were up in December by four per cent, year over … [Read more...]

Tridel’s ALTO At Atria Condos VIP sale

Tridel is introducing its new condominium project located at Sheppard and Highway 404 called ALTO At Atria. Location-wise it's excellent, being close to Fairview Mall, a lot of restaurants, entertainment, and the Don Mills subway station for those with no cars. To the savvy drivers out there, it is close to Highway 404 and the 401, the two main Highways. From the renders, the building looks to have a very sleek and modern design. Tentative … [Read more...]

Toronto housing market now a Buyer’s market?

Lately I haven't come across much multiple bidding wars. Not much MLS listings say "Offer presentation at ______" where Buyers had a deadline to decide to purchase their dream home. Seems like the market is now at a good balance - thanks to tighter mortgage rules passed a few weeks ago, a higher prime rate which was increased by Bank of Canada on June 1st, and an abundance of new listings flooding the market. The Globe And Mail yesterday … [Read more...]