Monthly Archives: April 2014

GTA Market Update – April 23, 2014

Toronto home sales April 2014
The mix is changing

As the chart shows, prices are up again in April. As of mid-month, sales were up around 11% over the same time in 2013, and average prices were also up by 11%.

This overall average figure we report includes detached homes (72% of which are sales in the 905 area) as well as condo apartments (70% of which are sales in the City of Toronto.) Each category has its own dynamic – and so do most neighbourhoods!

People are starting to notice that the spread is widening: The average price for a detached house in the City is now around $1 million; in the 905 area it is around $640,000. The average price for a condo apartment in the City is just under $400,000; in the 905 area it’s around $300,000.

Buying a home is a smart investment

A shifting landscape of values requires a smart approach to buying. Part of the process is having that conversation to identify needs and wants. We can help!

If you’re thinking of buying or selling this year, this is the right time to contact us! You can email us, or call James and Joanne at 416-483-8000.

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Mayfair 2014 Ride-all-Day Bracelets

Mayfair rides at night

Mayfair in Rosedale Park will be on May 10th this year. You can get Ride-all-Day bracelets, good for all the mechanical rides, but only during the advance sale period…

April 23rd to May 7th

You can purchase vouchers for the Ride-all-Day bracelets at Summerhill Market, 446 Summerhill Avenue, and at Mooredale House, 146 Crescent Road. The vouchers will be on sale from April 23rd to May 7th only. Then redeem your voucher at the park on Saturday, May 10, when you will receive your bracelet.

Mayfair’s Eve – Bonus Rides

All the rides will be running for four hours on the night before Mayfair, from 5:00 pm to 9:00 pm on Friday, May 9th. You can come to Mayfair on the Friday night, redeem your voucher and try out the rides — then come back Saturday for a full day of fun!

Stay for Friday dinner in Rosedale Park

The whole family’s invited on Friday night! The Mayfair beer garden and BBQ will be up and running Friday May 9th, 5:00 pm to 9:00 pm. We’ll be serving Steam Whistle, and Summerhill Market is bringing their famous gourmet ribs! (Weber’s burgers and Life Choices hot dogs will also be on the grill.) A great time to hang out with friends, at a really big neighbourhood barbecue!

5 reasons to call your agent when planning a reno

Basement reno

As real estate agents we help our clients in many ways, apart from buying and selling. We’re always delighted when clients call us for advice! If you’re planning a home renovation, here are five powerful reasons to bring us in first…

  1. We know you, and have a good idea already of what your values and goals are.

  2. We’re familiar with lots of houses and different designs that have been tried in other people’s homes.

  3. We have experience with contractors (both good and bad!) and can help you make informed choices.

  4. We know the market and can advise on which reno ideas will add value to your home (just saying!)

  5. We have enough hands-on expertise that we can share practical tips about how to approach the project and what “unexpected” things to expect.

One subject that comes up with owners is whether to renovate or move. (More than one TV series has been built on this premise!) The quick answer can be summed up this way: For most homes, there is an expenditure ceiling, related to values in the neighbourhood. Do not over-improve your home.

A related question is, how much should I improve my home to help it sell? This is really a whole other topic. The best approach is to discuss it in the specific context of your home, its location, and the prevailing market conditions. (Yet another reason to call us!)

If you’re thinking of selling your home this year…

…this is the right time to contact us! You can email us, or call James and Joanne at 416-483-8000. We know how to position your home so that you will achieve the best results in today’s market.

GTA Market Update – April 3, 2014

Toronto Home Sales 2014
Prices and volumes both up

The average home sale price in the Toronto area was $557,684 in March, about 8% higher than the same period last year. The number of sales was up 7.2%, compared to March, 2013. The greatest price increases were for detached and semidetached houses, while the greatest increase in number of sales was for condo apartments.

In general, the number of available listings is still lower than last year. Many areas, even beyond the “usual suspects” of downtown, are seeing a generous proportion of sales over asking, indicative of bidding wars.

Expect revised price estimates

“With borrowing costs remaining low, and in fact declining, strong home ownership demand will continue to butt up against a constrained supply of listings,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Strong price growth will be the result for the remainder of 2014. If the pace of price growth experienced in the first quarter is sustained, TREB may revise its outlook for the average selling price.”

If you’re thinking of selling your home this year…

…this is the right time to contact us! You can email us, or call James and Joanne at 416-483-8000. We know how to position your home so that you will achieve the best results in today’s market.