Monthly Archives: May 2012

A condo townhouse with highrise amenities

A condo townhouse unit offers great value and convenience, but many buyers want the indoor pool, fitness, and other features of a high rise. We’ve listed a one-bedroom townhouse unit at “Windermere By The Lake” that has all those features and more!

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Indoor pool and waterfront trails

This townhome at the foot of Windermere Avenue offers more than you’d expect. The gardens are magnificent, the Park Lounge and Lake Club Fitness facility on the main floor of the tower are ahead of their class. There’s a Members’ Lounge with complete kitchen, workout area, virtual golf course, indoor pool, and his and hers locker rooms with saunas. And there’s a private garden just for the use of the townhome residents.

But perhaps the biggest and best amenities lie beyond. A minute away, just outside your front door, is High Park and the miles and miles of waterfront trails on Lake Ontario.

If this is the kind of lifestyle you’re looking for, email us, or call James and Joanne at 416-483-8000.

GTA Market Report – May 17, 2012

Toronto Home Sales May 2012

Tight market conditions in Toronto

With more condo apartments selling in Toronto than detached homes, you know the market is tight. The mid-May TREB figures indicate that 784 condo resale apartments were sold in the 416 area in the first two weeks of the month, as opposed to 691 detached homes. (In the 905 area, it was the other way round… 1,832 detached homes, versus 326 condo apartments.)

The average selling price for transactions in the first 14 days of May was $517,242 – up by six per cent compared to the same period in 2011.

“A shortage of listings in the low-rise segment of the market has resulted in a lot of competition between buyers and above average annual rates of price growth. Tight market conditions are expected to remain in place for the balance of 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Three days left till Mayfair in Rosedale Park

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An eerie calm before the Mayfair madness erupts! James and I were walking through Rosedale Park this evening while a whole house league’s worth of families were picking up new soccer jerseys for their kids’ teams. Come Friday night, the entire field will be lit up with giant carnival rides, and many of the same families will be bringing their kids to a BBQ dinner in the beer garden!

Saturday morning will see the costume parades threading through Rosedale and Moore Park, joining on Summerhill Avenue just before 9 am for the grand opening of the big day itself. This local tradition was started in 1946, and people say it’s the longest-running neighbourhood fair in Toronto. Proceeds go to support Mooredale House, and it’s a wonderful fun time for the whole family. Hope to see many of you there!

Parade routes – Mayfair in Rosedale Park, May 12th

Mayfair parade routes - Rosedale and Moore Park

Mayfair parade routes – Rosedale and Moore Park

Each Mayfair Saturday morning starts with the two neighbourhood parades. Kids dressed up in costumes (this year’s theme is “Mayfair at the Movies!”) join the parade routes as they wind through the local streets.  The Moore Park parade sets out from Moorevale Park on Welland Avenue, at 8:15 a.m. The Rosedale parade starts from Whitney Park on Glen Road, at 8:30 a.m. They meet up on Summerhill Avenue at the foot of the railway bridge, and march together to the entrance of Rosedale Park. Kids dressed up for the theme receive prizes from the Mayfair costume spotters as the parade nears the park. When they get there at 9:00 a.m., the rides are ready, candy floss is spinning, and the Midway Games are open!

Musicians, antique cars, perhaps some police on motorbikes or horseback… This neighbourhood parade tradition started with the first Mayfair in 1946. This year, it’s on Saturday, May 12th. If you’re up and around, come out and cheer them on!

Ride-all-Day bracelets – Mayfair in Rosedale Park

Monkey Maze, coming to Mayfair 2012

The Monkey Maze, coming to Mayfair in 2012.

Mayfair 2012 will be on Saturday, May 12th, at Rosedale Park. We’ll have a great collection of rides for the entire family from World’s Finest Shows, and the ride-all-day bracelets are available for $35.

Advance sale locations are Summerhill Market, 446 Summerhill Avenue, and Mooredale House, 146 Crescent Road. From now till May 9th, you’ll be able to purchase vouchers which get redeemed at the fair for the ride bracelets. These bracelets will provide all-day admission to the mechanical rides at Mayfair.

You’ll also be able to pick up and use your Ride-all-Day bracelets from 5:00 pm to 9:00 pm on Friday, May 11, at the “Mayfair’s Eve Preview.”  That’s four bonus hours of rides, all for the one price!

To avoid disappointment, plan to get your vouchers early. Remember, the last day to purchase vouchers is Wednesday, May 19th!

GTA Market Report – May 3, 2012

Toronto Monthly Home price chart

Toronto average home sale prices continued to increase in April, though the 8.5% year-over-year increase was marginally lower than the increases in February and March.  The average price for April 2012 transactions was $517,556. This figure includes houses and condos, throughout the Greater Toronto Area.

House prices up, condos follow

Price increases (and competition) were strongest for single-detached houses. Across the GTA, detached home prices were up around 9%. The condo market (resale prices up around 4%) is better supplied with inventory, with new construction continuing to coming on stream.

Undeterred by continuing low rates, buyers press on

“Monthly mortgage payments remain affordable for home buyers in the Greater Toronto Area. While interest rates are generally expected to increase over the next two years, the extent and timing of rate hikes has been thrown into question by slower than expected economic growth in the first quarter of this year. On net, borrowing costs are expected to remain a positive factor influencing home sales through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Are you thinking of selling your home in the next year or two? One rule of thumb in real estate is that news of an increase in borrowing rates will motivate buyers to make their purchase sooner. When rates increase, we’re more likely to see prices increase, rather than decrease, over the following 90 days or so.

If you would like to sell your home in this market, email us, or call James and Joanne at 416-483-8000.