Monthly Archives: June 2011

Is it safe to cross?

Pedestrian accident map Global Toronto TV

Zoom in on new pedestrian safety map

As part of a report on pedestrian safety in Toronto, Global Toronto has commissioned an interactive map designed by Toronto mapmaker Patrick Cain. You can zoom in on your neighbourhood and see just how safe (or not) your local intersections are to cross.

The new information shows that traffic lights where wide suburban roads intersect with local streets are among the riskiest places for pedestrians to cross. Downtown streets are generally safer, except for places like Castle Frank and Bloor, where drivers are exiting from expressway conditions. Dylan Reid has some more detailed comments in his article at Spacing Toronto.

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GTA Market Report – June 4, 2011

Toronto MLS monthly sales May 2011

Strong prices, strong demand

As foreshadowed throughout this spring, the number of monthly sales finally surpassed last year’s figures in May. Greater Toronto REALTORS® reported 10,046 sales in May 2011 – up six per cent compared to May 2010. In contrast, the number of new listings in May, at 16,076, was down 15 per cent compared to last year.

Homes were on the market for an average of 23 days and sold for an average price of $485,520– up nine per cent compared to $446,593 in May 2010. The strongest rate of price growth was experienced for single-detached homes sold in the City of Toronto: the average sale price for this category was $771,965 in May, up 12 per cent over 2010. Prices for semi-detached homes in the City increased 10 per cent over May 2010, to an average of $551,666. Prices for condo apartments also rose throughout the GTA, up about 5 per cent over May 2010.

Where does it go from here?

The chart above provides a strong indication that all or most of the price increase for 2011 has been achieved. The typical pattern would include a softening of sale prices over the next three to four months. On the other hand, if new listings continue to be scarce this summer, these sale prices may keep on rising. The threat of higher interest rates in the fall, paradoxically, is an incentive for buyers to make purchases quicker than they otherwise might.

“The robust price appreciation that we have seen will hopefully prompt more households to list, resulting in a more balanced market later this year,” commented Jason Mercer, TREB’s Senior Manager of Market Analysis.