Posts Tagged ‘record’

The June Housing Statistics Are In

Thursday, July 9th, 2009

As many of you have probably heard by now, this June was the best on record in terms of house sales as reported by The Toronto Real Estate Board.

The total number of houses sold rose by an amazing 27% in June while the average sale price rose 2%. Keep in mind that these statistics include all of the GTA from the Hamilton/Wentworth townline in the west to the Durham/Northumberland townline in the east and from Lake Ontario north into Lake Simcoe. Of course not all areas experienced the same amount of growth, however, Durham Region (on the most part) is in line with these increases. To see a 3 year comparable market evaluation for South Pickering, North Pickering, Ajax, Whitby, Oshawa and Courtice/Bowmanville click on Durham Region.

The other statistic to take notice of is the number of homes for sale this year as compared with last year. While sales have increased 27% this June, the number of new listings has decreased by 17% and the number of active listings has decreased by 30%. What does this mean for sellers and buyers? There is a lot less inventory to choose from and a lot more people who are looking to buy. This would explain the rise in the number of multiple offers we have been seeing over the past several weeks as well as the increase in prices.

Who knows where all of this will end up in the next several months. There is still some speculation in the economic circles that the “worst is yet to come” and yet others have changed their predictions to an earlier anticipated recovery.

http://getmovingwithkaren.blogspot.com/2009/07/june-housing-statistics-are-in.html

reviewed by Moishe ALexander, CFC  canadian funding corp CEO

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Posted in Architecture, Brownfields, Canada, Canada Mortgage and Housing Corporation, canadian funding corp, Climate Change, Dow Jones Sustainability North America Index, Hamilton, Home Purchasers, moishe alexander, Ontario, Recycling, Redevelopment, Renewable Energy, Sustainability | Comments Off

Canadian home resale prices rise to record in May

Wednesday, June 17th, 2009

This is the latest article regarding the health of the Canadian real estate industry for the month of May.  Published today on the msn finance page.  Certainly worth a read as it shows the Real Estate market in a very positive light.  As I noted in my post yesterday Canmore real estate is starting to move again with increased activity driving the sales.

REUTERS
June 15, 2009
TORONTO (Reuters) – Resale prices for Canadian homes rose to their highest average on record in May, while sales activity climbed for a fourth straight month as consumer confidence strengthened, according to an industry report released on Monday.
But rebounding sales in some of the most expensive markets skewed the national average, the Canadian Real Estate Association said in the report.
The average home price last month rose 0.4 percent to C$319,757 ($282,971), topping the previous record set a year ago. It was the first year-over-year increase since May last year.
The average price has recovered 16.4 percent from the low reached in January, CREA said.
Home sales rose 8 percent to 37,649 units in May from April, the fourth consecutive monthly increase on a seasonally adjusted basis. Nationally, 49,521 units changed hands in May, down 0.8 percent from a year ago.
“New records were posted in only 15 percent of local markets in May, none of which are among the most active or expensive,” CREA said.
“The strong rebound in sales activity, not price, in Canada’s most expensive markets is driving up average prices nationally and in some provinces, just as a sharp decline in activity in these markets pushed average prices lower in late 2008.”
Of the 25 major markets that CREA tracks, 14 reported rises in unit sales year-over-year, with five markets, mostly in the western provinces of Alberta and British Columbia, posting double-digit increases.
Prices rose in 14 markets, led by a 17.3 percent increase in Newfoundland and Labrador and a 12.1 percent climb in Saint John, New Brunswick.
($1=$1.13 Canadian)
http://soldbyrichard.wordpress.com/2009/06/15/real-estate-news/
reviewed by Moishe Alexander, CFC CEO

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Posted in Brownfields, Canada, Canada Mortgage and Housing Corporation, Home Purchasers, Sustainability, Uncategorized | Comments Off

Luxury Homes Sales Rebound: Moishe Alexander inform

Tuesday, June 16th, 2009
May 2009 strongest month on record for luxury home sales, says RE/MAX
Sales of luxury properties in the Greater Toronto Area posted their strongest performance on record in May 2009, according to RE/MAX Ontario-Atlantic Canada.
Two hundred and seventy-three high-end homes changed hands in May 2009, up six per cent from 258 reported during the same period one year earlier, and the highest number of sales over $1 million in a one-month period in the history of the Toronto Real Estate Board. The previous record was set in May of 2007 at 266 sales.
“Confidence is slowly returning to the marketplace,” says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. “Traditional market indicators are in place – the stock market has made tremendous gains in recent months, crude values have risen significantly, and the Canadian dollar has gained almost 10 points in the past month. Combine these influences with pent-up demand and growing economic stability and you have the ingredients for solid sales in the top-end of the market.”
Further evidence of a rebound is the recent sale of a Bridle Path home priced at over $13 million, the first sale over the $10 million price point in more than a year. The 18,000 sq. ft. gated estate, situated on more than two acres, was listed by Barry Cohen, Broker, RE/MAX Realtron, and featured a spectacular backyard with a negative edge waterfall pool, fountains, hot tub, and tennis court.
Demand for homes priced in excess of $1 million has increased steadily since the beginning of the year, says Polzler, mimicking the overall real estate market. Seven hundred homes have changed hands year-to-date, compared to 944 in January to May of 2008. Given current momentum, however, it’s likely that activity will continue at a healthy pace for the remainder of the year – with sales at year-end at least on par or ahead of 2008 levels.
RE/MAX is Canada’s leading real estate organization with over 17,600 sales associates situated throughout its more than 677 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36th year, is a global real estate system operating in more than 70 countries. Over 6,700 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca
David Pylyp Specific review of the W08 neighbourhood revealed 11 sales between 1.0 and 1.5MM in the last 30 day period (eom May 09)
http://eleganthomesinwesttoronto.blogspot.com/2009/06/luxury-homes-sales-rebound.html

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