Please contact Juvan Mariathasan to get further details.
Chestnut Hill Developments
$2,000 in decor dollars; 1 year FREE maintenance fees; 10% paid in the first year.
Towns at Rouge Valley
$2,000 in decor dollars; 1 year FREE maintenance fees; 10% paid in the first year. Confirmed on 02/12/2018. Subject to change without notice.
Development Charges Capped at $9,000+HST for one bedroom plus den and one bedroom units; $13,000+HST for two bedroom and three bedroom units. Meters Capped at $400 per (sub) meter; $1,500 plus HST (capped) for all building utility connections.
Stanley Church + Carlton
Development Charges Capped at $6,900+HST for one bedroom plus den and smaller units; $8,900+HST for two bedroom and larger units. Meters Capped at $400 per (sub) meter; $1,500 +HST (capped) for all building utility connections
January 4, 2018 — Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS® System in 2017. This total was down 18.3 per cent compared to the record set in 2016.
Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward their home purchase in response to the new OSFI stress test guidelines effective January 1, 2018.
“Much of the sales volatility in 2017 was brought about by government policy decisions. Research from TREB, the provincial government and Statistics Canada showed that foreign home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing Plan, which included a foreign buyer tax, had a marked psychological impact on the marketplace. Looking forward, government policy could continue to influence consumer behavior in 2018, as changes to federal mortgage lending guidelines come into effect,” said Mr. Syrianos.
The average selling price for 2017 as a whole was $822,681 – up 12.7 per cent compared to 2016. This annual growth was driven more so by extremely tight market conditions during the first four months of the year. In the latter two-thirds of 2017, fewer sales combined with increased listings resulted in slower price growth. In December, the MLS® Home Price Index (HPI) Composite Benchmark was up by 7.2 per cent year over year, and the overall average selling price was up by 0.7 per cent year over year.
“It is interesting to note that home price growth in the second half of 2017 differed substantially depending on market segment. The detached market segment – the most expensive on average – experienced the slowest pace of growth as many buyers looked to less expensive options. Conversely, the condominium apartment segment experienced double-digit growth, as condos accounted for a growing share of transactions,” said Jason Mercer, TREB’s Director of Market Analysis.
Charisma offers residents an impressive array of amenities including a Games Room, Theatre Room, Pet Grooming Room, Bocce Courts + Lounge, as well as a 7th Floor Outdoor Pool, Wellnes Centre and a Rooftop Skyview Lounge + Terrace.
1.795 new homes sold in the Greater Toronto Area in August, 681 were multi-family while 114 were low-rise single-family homes.
2. August was by far the lowest sales total for the year so far, but even with the slowdown, 2017 has still seen 31,749 homes sold in the first 8 months of the year.
3. That total is enough to put 2017 in contention for being a record year for new home sales, at least when it comes to multi-family. BILD says that the “overwhelming majority of the 31,749 new homes purchased so far this year were multi-family units, condo apartments in high-rise and mid-rise buildings and stacked town-homes.”
4. Year-to-date new home sales in 2017 are 28 per cent above the 10-year average. BILD and Altus Group point out that they’re also still ahead of where 2016 was at the same point.
5. Low-rise sales have continued to plummet in 2017, a trend that has been playing out over the last several years. “The longer-term decline in single-family’s share of new homes sales has now kicked into hyperdrive…” says Patricia Arsenault, Executive Vice President of Research Consulting Services at Altus Group.
6. The pronounced sales drop was accompanied by a small increase in builders’ inventories, with 6,608 multi-family homes and 1,880 single-family low-rise homes available. This is “far below what is considered a healthy level” according to BILD.
7. Prices continued to post significant annual gains, with the average new multi-family home price up 34 per cent to $644,327 and the average new single-family home price up 38 per cent to $1,289,298.
8. But when it came to month-over-month price comparisons, August prices fell short of July’s results. In July, average low-rise and high-rise home prices for the GTA were $1,316,693 and $665,041, respectively.
9. August’s average unit size for new condos was 859 square feet, down from 871 square feet in July, but up from 808 square feet a year earlier.
10. August’s average price per square foot for new condos was $750, down from $764 in July, but well above the $595 recorded a year earlier.
Toronto’s roller-coaster real estate market took a swoop lower in August, the fourth-straight month that the average sales price in Canada’s largest city declined from a dizzying record high set in April.
The Toronto Real Estate Board said Wednesday the average price for all home types in the Greater Toronto Area last month was $732,292, down 1.8 per cent from July and 20.3 per cent below April’s Greater Toronto Area average of $919,086.
The Ontario government introduced more than a dozen measures in April, including a 15 per cent tax on foreign buyers, following a price spike in the first months of the year, which started with an $768,301 average Greater Toronto Area price in January.
Sales in the Toronto area have cooled since the Ontario government’s move and August sales continued that trend with a 34.8 per cent plunge from the same month last year.
Premier Kathleen Wynne says April’s 16-point plan was responding to a “really overheated” market.
“It’s had a cooling effect. We don’t know exactly what all of the factors are there, but we’ll be working with the real estate board both in Toronto and beyond to make sure we got it right,” Wynne said Wednesday.
According to RBC economist Robert Hogue, Toronto is likely to follow Vancouver’s experience in the wake of market-cooling policy. Sales in that West Coast city increased 22.3 per cent in August from the same month last year, when the provincial government first introduced a 15 per cent foreign buyers tax.
“Our view is that the market has largely adjusted to Ontario’s Fair Housing Plan and should maintain balance between supply and demand,” Hogue wrote in a note Wednesday.
“Developments in Vancouver — which went through a similar policy-induced market correction last year, suggest that the bottom for prices may be near in the Toronto area.”
Despite August’s decline to the lowest average price reported by the Toronto Real Estate Board so far this year, it’s still up three per cent from the same month in 2016.
Condo apartments, which accounted for 31.4 per cent of the volume, had an average price of $507,841 — up 21.4 per cent from August 2016.
The real estate board number of new listings last month was 11,523, the lowest for an August since 2010. But the number of active listings was 16,419, up 65 per cent from August 2016, and the average days on market rose to 25 from 18.
Home sales fell in June by their largest amount in seven years, the Canadian Real Estate Association said Monday, as nearly 75% of all markets slowed down during what is normally the most popular time of the year for real estate.
CREA said home sales fell by 6.7 per cent last month compared to May and the worst monthly decline since 2010 and the third straight monthly contraction.
MONTHLY HOME SALES IN CANADA
Home sales have now fallen 14 per cent since peaking in March. The April to June period is typically a busy time for home sales as the warmer weather tends to bring out buyers.
Prices down, too
More than 70 per cent of Canadian markets saw fewer homes sold in June than they did in May. But Ontario makes up a biggest percentage of Canada’s housing market, and new rules aimed at slowing the housing market in and around Toronto starting in April appear to be impacting the national numbers.
“Changes to Ontario housing policy made in late April have prompted many home buyers in the Greater Toronto region to take a step back and assess how the housing market absorbs the changes,” said CREA’s chief economist, Gregory Klump. “The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires.”
Canada’s housing boom has 30% chance of going bust, Goldman Sachs says.
‘The market has changed’ and buyers welcome cooldown in redhot Toronto market.
Prices have been skewed higher for a long time by the hot Toronto and Vancouver markets, but the price in both fell in June compared to May, dragging down the national numbers.
“The Canadian housing market is now in its third month of what is expected to be a soft landing,” TD Bank economist Diana Petramala said. “The weakness was triggered by changes to provincial and federal housing policy, but it will ultimately be higher interest rates that help solidify it.”
Petramala expects prices to decline slightly into next year, but the national average will be lower because of a cooldown in BC and Ontario.
“Elsewhere in the country, the improving economic conditions should help offset some the impact of gradual interest rate hikes, with home prices and sales expected to trend higher,” she said.
Annual growth rates for MLS® HPI benchmark prices have moderated over the past two months, but remain strong. The MLS® HPI composite benchmark price was up by 25.3 per cent on a year-over-year basis in June. June’s average selling price for all home types combined for the TREB market area was $793,915, representing a 6.3 per cent increase compared to the same month in 2016. A better supplied market has certainly been a key factor influencing the moderation in price growth.
“Recent Ipsos survey results suggest that home buying activity in the GTA will remain strong moving forward. The year-over-year dip in home sales we have experienced over the last two months seem to be the result of would-be buyers putting their decision to purchase temporarily on hold while they monitor the impact of the Fair Housing Plan. On the supply side of the market, it certainly looks as though buyers will benefit from more choice in the second half of 2017 compared to the same period in 2016,”said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.
Celebrate Canada’s 150th birthday at Canada Days at Scarborough Civic Centre!
The multi-stage event will feature performances by local, national and international music acts from desert blues, Taiwanese indie, and electronica to legends of reggae and South Asian hip hop that will get everyone on their feet. Hear the heartbeat of Canada at the drum stage through pow wow and dhol drum performances and experience the artistry of emerging singers, dancers and spoken word artists at the bandshell stage.
150+ drummers made up of Scarborough’s Chinese Canadian community, and other Torontonians, will join drummers from coast-to-coast to set a Guinness Book of World Record.
A family activity zone and a hospitality area offering food and beverage will be available for the public throughout the day. A spectacular fireworks finale at 10:55 pm will end the night.
Les Filles de Illighadad – Fatou Seidi Ghali and Alamnou Akrouni, Nicolas Pellerin et les Grands Hurleurs, Bonjay, Kingston All-Stars, Horsepowar, Deen Squad, Unity Hour, Beyond Sound Empijah, Chinese Drummers, Lisa Odjig, Nagata Shachu, Pan Fantasy Steelband.
Date & Time: Saturday, July 1, 2017 | 2:00 PM – 11:00 PM
Fireworks: 10:55 PM
Venue : Scarborough Civic Centre – Albert Campbell Centre – 150 Borough Dr, , Toronto
Scarborough Civic Centre – Albert Campbell Square is located in the east end of Toronto, directly off of HWY 401, between McCowan Road and Brimley Road.
Free parking spaces are available at the Scarborough Town Centre.
A hospitality area offering food and beverage for purchase will be available on July 1 at Scarborough Civic Centre. Alcoholic beverages will be available for individuals 19 and older. Valid photo ID must be provided.
• Borough Drive between Borough Approach East and Borough Approach West will be closed from June 29 at 8 a.m. to July 2 at 8 a.m.
pickeringevents🇨🇦🍁Happy 150th Birthday Canada! Let’s celebrate together. 🍁🇨🇦
Bouncers, games, & activities from 12-5pm in Esplanade Park, Pickering.
Main Stage performers including @alxvelizmusic and Fireworks from 5-10pm in Kinsmen Park, Pickering.
#canadaday #canda150 #pickeringproud #freefamilyfun #fireworks #Scarborough
These are the tip I used from experts to maintain my lawn. If anyone is moving into a new house in Toronto, Scarborough, Pickering, Ajax or Whitby then I would highly suggest these great tips to maintain your lawn.
Watering your lawn
Don’t water in spring or fall
Normally, spring and fall rainfalls provide more than enough water for your lawn.
Brown lawns in the summer are normal: grass goes dormant or inactive during drought. When the rain returns, so will the green on your lawn.
Water 2.5 cm (about 1 inch) a week, including rain
Watering deeply, once a week for clay soils and twice a week for sandy soils, encourages deep, strong root growth. This will help your lawn cope in periods of summer drought.
Watering more frequently can weaken grass, making it vulnerable to disease, pests and drought.
Use a rain gauge
A rain gauge can be used to measure the amount of water that has fallen, so you know how much more water you need to add to meet the 2.5 cm (1 inch) minimum.
A rain gauge can also be used to measure how long your sprinkler needs to be on: simply put the rain gauge beside your sprinkler, turn it on and note how long it takes for the rain gauge to meet the 2.5 cm (1 inch) mark.
Do-it-yourself project: Make your own rain gauge: simply use tape to draw a line 2.5 cm (1 inch) from the bottom of any clear container (e.g. empty bottle).
Caring for your lawn to minimize additional water
The best way to ensure a healthy, green lawn is to properly mow, aerate, fertilize, top-dress and overseed.
The height of your grass is very important.
Set the blade on your mower to cut at 6 — 7.5 cm (2.5 — 3 inches).
Never remove more than 1/3 of the grass blade when you mow to avoid stressing the turf.
Mow high to strengthen the roots and retain water and nutrients.
A short lawn leads to shorter, weaker root systems.
Short root systems leave your lawn more vulnerable to drought, insects and weeds.
Slow down in the summer
Only mow your lawn when it needs it.
Mowing should be more frequent during the spring and fall than in the summer when the grass grows slowly.
Mow less during dry spells and try to reduce foot traffic during drought periods.
Continue mowing through the fall until growth stops.
Mow when grass is dry
To achieve the optimum height and an even cut, mow when the grass is dry.
Wet grass clippings can clump and create problems for your lawn.
Dry grass is less likely to clog mowers.
Mow late in the day to avoid morning dew.
Use your clippings
Grass clippings are 80% water and decompose readily, clippings will disappear within a day or two.
Grass clippings are not collected as garbage or yard waste.
Add a small layer of clippings to your compost.
Using clippings as mulch around your trees or shrubs prevents moisture loss, adds important nutrients and provides weed control.
Remember: leaving your grass clippings on the lawn does not cause thatch. Thatch is caused by adding too much nitrogen or using chemical pesticides.
Keep your blades sharp
Dull blades tear the grass, leaving it vulnerable to disease and heat stress.
Dull blades shred leaf tips, causing the turf to lose moisture.
Sharpen your blades twice a season, or every 8 — 10 hours of use.
Keep your equipment in good working condition.
Look for possible projectiles such as rocks before you mow.
Avoid mowing steep slopes; consider replacing grass with ground cover plants or a garden.
Easy-to-use push mowers can provide a quality cut.
They offer a quiet, non-polluting, fuel-free alternative.
For many small properties in Toronto, these mowers are good alternatives to noisy gas mowers.
Aerate in spring or fall to help water reach roots
Heavily used lawns can become compacted, preventing water from reaching roots. A lawn aerator removes small plugs of soil and turf from your lawn, to improve the flow of water, air and nutrients to the roots of your grass. Aeration is best done when the ground is slightly moist in either the spring or the fall. Aerating will help your roots grow deeply and produce a more healthy vibrant lawn. Perform aeration prior to top dressing and/or over-seeding for great results. Consider sharing the cost of renting an aerator with your neighbours — you can rent or purchase an aerator at most garden centres or equipment rental locations.
Fertilize using natural fertilizers once a year, in the fall
Lawns should be fertilized once each year, preferably in the fall. All lawns require nitrogen for healthy growth. Synthetic or chemical fertilizers contain water soluble nitrogen, which is easily dissolved in water. Much of this nitrogen can be lost when it rains or when you water your lawn. Consider natural fertilizer as an effective alternative to meet your lawn’s needs. Most natural fertilizers contain insoluble nitrogen that doesn’t quickly breakdown in water. This means the fertilizer stays in the lawn and nutrients are released slowly providing the lawn with food for a longer period. Slow release also means there is little likelihood of over-fertilizing and burning your lawn.
Keep your grass clippings on your lawn
Remember to keep grass clippings on your lawn — an excellent natural source of nitrogen and moisture.
Add compost to your lawn once a year in spring or fall
Many lawns suffer due to a lack of organic material. Top-dressing (adding organic material to your lawn) is a great way to add nutrients to your lawn, reduce compaction, promote growth and help improve the lawn’s water holding capacity. Replenish your lawn by applying a 1.5 cm (1/2 inch) layer of organic material like compost to the surface of your grass each year in the spring or fall.
Add a mixture of grass seeds to your lawn to prevent weeds and improve its appearance and drought tolerance
Overseeding is spreading a mixture of grass seeds on an established lawn. If you want a thicker, greener, vigorous and stress tolerant lawn, then overseeding is for you. Most lawns in Toronto contain Kentucky bluegrass, a very high maintenance grass. In many cases Kentucky bluegrass might be wrong for your yard conditions.
Seed spreaders (hand-held or push) can be used to evenly apply seed to your lawn — always follow the seed package instructions. Seed spreaders are available for rent or purchase at most garden centres. For smaller areas you can choose to sow the grass seed by hand and then lightly rake to even it out.
Select the right grass seed
To choose the right seed for your needs, consider:
How much sunlight does your lawn receive?
How much do you use your yard?
Is it for the front yard or backyard?
Do you want a high or low maintenance yard?
When shopping for seed look for a high quality blend for our ‘northern climate’, which is virtually weed free. By using a blend of seeds, you are introducing a variety of grass types to your lawn which creates a healthier and more resilient lawn. Before you buy, read the product label and look for Canada Certified No. 1 seed — this provides assurances about the purity and percent germination rates.
Mow your lawn and then rake away the clippings. You want to make sure the seed makes good contact with the soil. You can add a small layer of clippings to your compost or use the clipping as mulch around your trees or shrubs.
Give your lawn a good rake. You want to rough it up to create a good seed bed.
For small areas of lawn, spread the seed by hand over the entire spot and then lightly rake to even it out. For larger lawn areas, you can use a broadcast spreader (hand-held or push) to distribute the seed.
Cover the seed with a thin layer of topsoil or compost up to 1.5 cm (1/2 inch).
Keep the seed moist with a gentle sprinkling (do not over-water or wash the soil away) until the seed has germinated, this may take between 8 to 15 days. It is very important to not let the seed dry out. Remember to water in the morning.
When the new grass emerges, mow before the grass reaches 12 cm (4 inches) — remember to keep your lawn between 5 — 7.5 cm (2.5 inches — 3 inches).
Mixes and Blends at Garden Centres:
Perennial Ryegrass Mix — Best for sunny areas
Great for homes with a lot of wear and foot traffic.
Grows quickly, drought tolerant, pest and weed resistant.
Tall Fescue Mix — Good for partially shady and dry conditions
Great low maintenance grass.
Excellent heat, drought and disease resistance.
Fine Fescue Mixes (Northern) — Good for shady areas
Suitable for shaded, low-traffic areas.
Less frequent mowing, especially in summer.
Low Maintenance Grass Seed — Generally, blends of different fescues
No or very little mowing required.
Very low water requirements, rain is usually all you need.
Less vulnerable to pests and disease.
Kentucky Bluegrass Mix — Full sun to light shade
Hardy and wear resistant.
Very high maintenance — requires regular costly watering to maintain green colour through summer and more fertilizing and mowing than other grasses.
Doesn’t tolerate shade.
Common Lawn Problems
Having problems with your lawn?
You might have the wrong grass for the location or conditions. Below are some common problems and solutions:
Grass won’t grow in shade
Purchase drought-tolerant seed mixes: fescue grasses handle shade better than other grass types.
Consider planting shade loving groundcovers.
Plant a shade garden.
Mow high and infrequently, especially in the summer, as grass needs blade surface to soak up sunlight.
Thick green lawns just won’t grow in deep shade. Ask your garden centre about groundcovers or mulches as your best solution.
Grass won’t grow in sun
Try mulch around the base of mature trees where grass won’t grow.
Reduce soil compaction by aerating your lawn.
Add a light amount of compost to your lawn — no more than a 1.5 cm (1/2 inch).
Try growing alternatives to grass, such as shrubs, perennials, ground covers and native plants.
Speak with a lawn care professional or local garden centre.
Grass is Dry
Is your grass 7.5 cm (3 inches) tall? You need grass that has long roots to tap into soil moisture. Remember to mow grass at 5 cm — 7.5 cm (2.5 — 3 inches) to foster deep roots. For very dry areas, try tall fescue and fine fescue mixes as your best choice for drought tolerance.
Grass won’t grow on slopes
Your best option is to replace the grass with a rock garden or ground cover. This will reduce the intensive and often ineffective effort to grow and mow grass in such a troublesome area.
Use a rain gauge to assess your lawn watering needs.
Only water 2.5 cm (1 inch) per week including rainfall.
I’ve got thatch!
Thatch is a layer of dead and decaying organic material located where the grass emerges from the ground. Thatch happens when organic material collects faster than it decomposes. Thatch can happen when:
Your lawn has a high percentage of Kentucky bluegrass or creeping bent grass, which are the worst thatch formers. Turf-type grasses such as tall fescue and perennial rye grass are non-thatch forming. *
Too much fertilizer was added to your lawn, which forces grass to grow faster than micro-organisms can break it down. Fertilize your lawn no more than once per year, preferably in the fall.
Too much water was added to your lawn, limiting the oxygen in the soil, needed by grass decomposing organisms to survive. Watering deeply 2.5 cm (1 inch) no more than once per week, including rainfall, will allow the soils to dry sufficiently so air can replace water. Use a rain gauge to measure watering needs.
Pesticides are added to your lawn. Stop using pesticides; they kill earthworms and micro-organisms that breakdown thatch.
* (Ontario Ministry of Agriculture and Food and the University of Guelph Turf Grass Institute; 2002)
Repairing trouble spots — patching
Lawn repair patching fixes small areas that are brown, damaged, bare or thin. Small problem areas can be caused by pets, pests, disease, over-watering, or heavy foot traffic. Patching is a simple way to keep your lawn thick and dense and prevents weeds from taking over.
Anytime is a good time to repair your lawn with seed, but patching works best between the end of April and the end of May. If you are patching in the hot and dry weather of the summer take extra steps to keep the soil moist, like adding a small layer of mulch, to cover the seed.
The first thing you should do before repairing a patch of lawn is to determine what is causing the problem. Was this a one-time occurrence (dog or spill) or does this spot of lawn continually cause you problems? Speak with your local garden centre or a lawn care professional to determine if the problem can be corrected with patching.
For correctable lawn problems, follow these simple steps:
Loosen the top 5 — 7.5 cm (2 — 3 inches) of soil with a rake to create a good seed bed.
Spread the seed by hand evenly over the entire repair spot — if using a lawn patching/repair mix, follow the manufacturer’s instructions on the package.
Cover the seed with a thin layer of topsoil or compost up to 1.5 cm (1/2 inch).
Keep the patched lawn moist with a gentle sprinkling (do not over-water) until the seed has germinated, this may take between 8 to 15 days.
Mow the new growth when it reaches 10 cm (4 inches). Once established, remember to keep your lawn at least 6 — 7.5 cm (2.5 — 3 inches) tall.
Lawn alternatives — if it just won’t grow
Sometimes lawns are not suited for certain locations such as shaded areas, under trees, on steep slopes, or small and narrow patches.
Lawn alternatives include woodland shade gardens, native shrubs, wildflower meadows or prairies, xeriscapes or flowerbeds. See section 7.3 for some landscaping alternatives to a lawn.
The market is slowly shifting from a sellers’ market to a buyers’ market. I would suggest my buyers to take advantage of the current situation and I would be happy to negotiate a fair price for my clients. The prediction of professionals and my personal opinion is the following: prices will not decline for long and this is the time to be a winner.
TORONTO, June 5, 2017 — Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 10,196 sales through TREB’s MLS® System in May 2017 – down by 20.3 per cent compared to 12,790 sales reported in May 2016. Sales of detached homes were down by 26.3 per cent. Sales of condominium apartments were down by 6.4 per cent.
The supply of listings was up strongly over the same period. Active listings – the number of properties available for sale – at the end of May were up by 42.9 per cent compared to the record low a year earlier. The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses. Active listings for condominium apartments were down compared to May 2016.
“Home buyers definitely benefitted from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017. However, even with the robust increase in active listings, inventory levels remain low. At the end of May, we had less than two months of inventory. This is why we continued to see very strong annual rates of price growth, albeit lower than the peak growth rates earlier this year,” said Mr. Cerqua.
Selling prices continued to increase strongly in May compared to the same month in 2016. The MLS® HPI Composite Benchmark price was up by 29 per cent year-over-year. The average selling price for all home types combined for the TREB Market Area as a whole was up by 14.9 per cent to $863,910. Year-over-year price increases were greater for condominium apartments compared to low-rise home types. This likely reflects the fact that the low-rise market segments benefitted most from the increase in listings.
“The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out. On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by listing their home for sale to take advantage of these equity gains,” said Jason Mercer, TREB’s Director of Market Analysis.
Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® entered 33.6 per cent more new listings into TREB’s MLS® System in April 2017, at 21,630, compared to the same month in 2016. New listings were up by double-digits for all low-rise home types, including detached and semi-detached houses and townhouses. New listings for condominium apartments were at the same level as last year.
Total sales for the TREB market area as a whole amounted to 11,630 – down 3.2 per cent year-over-year. One issue underlying this decline was the fact that Easter fell in April in 2017 versus March in 2016, which resulted in fewer working days this year compared to last and, historically, most sales are entered into TREB’s MLS® System on working days. “The fact that we experienced extremely strong growth in new listings in April means that buyers benefitted from considerably more choice in the marketplace. It is too early to tell whether the increase in new listings was simply due to households reacting to the strong double-digit price growth reported over the past year or if some of the increase was also a reaction to the Ontario government’s recently announced Fair Housing Plan,” said Mr. Cerqua. The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 31.7 per cent year- over-year in April 2017. Similarly, the average selling price for all home types combined was up by 24.5 per cent to $920,791.
“It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months,”
said Jason Mercer, TREB’s Director of Market Analysis
Toronto’s richest properties are showing confidence in the real estate market. Toronto Real Estate Board (TREB) stats show that luxury sales are booming. While sales are down in the general market, sales of the most expensive homes in the city are up.
Luxury Real Estate Defined
The definition of luxury real estate changes from person to person but, “reasonable luxuries,” like extra square footage, and build quality, that’s not what we mean by luxury. What we’re looking for is true luxury, homes not within the realm of affordability for normal households. To do this, we’ll define luxury as homes over $few million, a pre-defined category TREB tracks. It’s a simple definition, but a buyer spending at least 1.5 million more than normal home price in Toronto isn’t a paper millionaire. These are actual, factual rich people that are often more in tune with global economic trends.
Real Estate Sales Over few million Are Up
Sales of property over $2 million are up across the Greater Toronto Area (GTA). TREB counted 616 sales in April, a 74% increase from the same time last year. Breaking that down, detached units were 579 of those sales, which is over 93% of total luxury sales. Condo apartments was the fastest growing segment, experiencing a 125% increase from the same time last year. That’s only 18 units though, so I wouldn’t read too much into that trend yet.
Luxury is an Increasing Part of Total Sales
An increase in sales above few million is an interesting divergence. The quality of high-ratio loans is on the slide, but luxury buyers are up. The general market is experiencing hesitance, but the city’s wealthiest families are showing confidence by increasing the number of buyers. Should this be interpreted as a sign of market confidence, or a group of people that are less hesitant at the possibility of losing money? Leave your thoughts below.
Speculates housing costs are playing a role, a sentiment echoed by housing and immigration experts.
“I’m sure money is part of it,” says Graham Haines, research and policy manager with the Ryerson City Building Institute. “Living in Toronto, living close to Toronto, is becoming more and more expensive.”
“As that cost increases, people are fleeing to the suburbs for cheaper rents and mortgages,” echoes Margaret Eaton, executive director of Toronto Region Immigrant Employment Council.
Both say municipalities throughout Halton, York and Durham regions, all hot real estate markets as well, where house prices have spiked in spots like Oshawa and Oakville in recent years, need to prepare for the ongoing influx of immigrants.
Outskirts of Toronto communities need to “build in the services immigrants are looking for, the opportunities to set up new business,” Haines explains.
Eaton says those kinds of supports are crucial, particularly since immigrants tend to struggle to get jobs that match their education and experience, they also face a higher unemployment rate than the general population.
“I worry that as we push immigrants out to the farther reaches of the city, and they still have to either own a car to get to work or spend hours on transit, that we just create further inequality and reduce opportunities for people,” she says.
East end of Toronto is growing.
Pickering, Ajax, Whitby, Oshawa are all growing quickly. If you are thinking about moving or relocating to an affordable city, time is now before they also become unaffordable.
GTA REALTORS® REPORT APRIL RESALE HOUSING FIGURES, AS TREB RELEASES NEW INSIGHTS ON FOREIGN BUYERS, SPECULATION, AND MULTIPLE OWNERSHIP
TORONTO, May 3, 2017 — The Toronto Real Estate Board has examined property assessment and land registry data in Ontario and has concluded that foreign buyer ownership, as well as speculation by foreign and domestic buyers and multiple ownership in the Greater Golden Horseshoe housing market remains low.
TREB is releasing their analysis of this data at the same time as TREB President Larry Cerqua announces that Greater Toronto Area REALTORS® entered 33.6 per cent more new listings into TREB’s MLS® System in April 2017, at 21,630, compared to the same month in 2016. New listings were up by double-digits for all low-rise home types, including detached and semi-detached houses and townhouses. New listings for condominium apartments were at the same level as last year.
Total sales for the TREB market area as a whole amounted to 11,630 – down 3.2 per cent year-over-year. One issue underlying this decline was the fact that Easter fell in April in 2017 versus March in 2016, which resulted in fewer working days this year compared to last and, historically, most sales are entered into TREB’s MLS® System on working days.
“The fact that we experienced extremely strong growth in new listings in April means that buyers benefitted from considerably more choice in the marketplace. It is too early to tell whether the increase in new listings was simply due to households reacting to the strong double-digit price growth reported over the past year or if some of the increase was also a reaction to the Ontario Government’s recently announced Fair Housing Plan,” said Mr. Cerqua.
The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 31.7 per cent year-over-year in April 2017. Similarly, the average selling price for all home types combined was up by 24.5 per cent to $920,791.
“It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months,” said Jason Mercer, TREB’s Director of Market Analysis.
New Insights on Foreign Buyers, Domestic and Foreign Speculation, and Multiple Ownership
TREB is encouraged that all levels of government, including the Province of Ontario, are making the state of the housing market a priority. However, TREB strongly believes that public policy decisions with regard to the housing market should be evidence-based and supported by empirical data.
In an effort to further the research into foreign buying activity, speculative buying and selling (“flipping”), and ownership of more than one property, TREB analyzed aggregated annual property sales, and aggregated residential data provided by the Municipal Property Assessment Corporation (MPAC) and Teranet Inc. (Teranet) for the Greater Golden Horseshoe (GGH), specifically between 2008 and April 2017.
A summary of TREB’s key findings from an analysis of the data:
The number of buyers with a mailing address outside of Canada is well-below one per cent, regardless of the year. Most of these buyers have a mailing address in the United States.
Between 2008 and April 2017, the average share of foreign buyers in the GGH was 2.3 per cent. The share was 2.2 per cent in 2016 and 2.6 per cent for the January through April period in 2017. The majority of foreign buyers – 87 to 90+ per cent – purchased their home as a place to live: 91.5 per cent in 2016 and 88 per cent January through April in 2017.
The trend from 2008 to April 2017 suggests that the share of foreign home buyers has remained low. The results also follow the results from earlier released data from an Ipsos survey of TREB Members conducted in the fall of 2016. The Ipsos survey results estimated that 4.9 per cent of transactions undertaken between the fall of 2015 and the fall of 2016 were accounted for by foreign buyers. The Ipsos survey results had an estimated margin of error of ± 2 percentage points, 19 times out of 20.
Between 2008 and April 2017, homes bought and sold within a short period of time – within one year of the original transaction – by domestic or foreign buyers accounted for a very small share (less than five per cent in 2016 and approximately seven per cent between January and April 2017) of total transactions.
TREB analyzed the ratio of property owners that owned more than one property in the GGH to the total number of properties. As of April 2017, this was a relatively small 6.2 per cent of total properties.
“It is not yet clear what impact the measures contained within the Ontario Government’s Fair Housing Plan have had on TREB’s market area or the broader Greater Golden Horseshoe. Despite the recent uptick in new listings on TREB’s MLS® System, we believe that we all have to be committed to a better understanding of issues affecting demand and supply dynamics in our marketplace. TREB will continue to collect and disseminate data on our marketplace and will continue to work with all levels of government as it relates to housing market policy,” said John DiMichele, TREB’s Chief Executive Officer.
Source: Summary data provided by the Municipal Property Assessment Corporation (MPAC). Land registry data sourced from Teranet was used by MPAC in the summary reports.
Important Note: The views and opinions expressed in this report and any related press release are the Toronto Real Estate Board’s. MPAC provided summary statistics only to the Toronto Real Estate Board. No personal information such as property owners’ names or addresses was released.
Summary of TorontoMLS Sales and Average Price April 1 – 30, 2017
Sales & Average PriceBy Home
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Summary of TorontoMLS Sales and Average Price April 1 – 30, 2017
City of Toronto (“416”)
Rest of GTA (“905”)
TorontoMLS Sales & Average Price By Home Type April 1 – 30, 2017
Yr./Yr. % Change
Yr./Yr. % Change
Yr./Yr. % Change
Yr./Yr. % Change
Sales & Average PriceBy Home
Type April 1 – 30, 2017
April 2017 Year-Over-Year Per Cent Change in the MLS® HPI
East Realtors are asking all of our previous clients to take advantage of these government GreenOn funds.
Funded through proceeds from Ontario’s carbon market, the Green Ontario Fund is a not-for-profit provincial agency tasked with reducing greenhouse gas pollution in buildings and industry to help meet Ontario’s emission reduction targets.
Through programs and rebates the Green Ontario Fund helps people and businesses take climate action into their own hands. Green Ontario Fund Programs not only reduce energy use but help Ontarians grow their savings.
Discover the greenhouse gas savings opportunities available to you at https://greenon.ca/
Whether buying or selling your home, you have several decisions to make.
Should you work with a REALTOR®? Which real estate company will provide the best value? Which REALTOR® within that company will be best suited to help you through the process?
We reached out to the RE/MAX Influencers: A panel consisting of RE/MAX Sales Associates from throughout Canada. We asked them: Why should a consumer work with RE/MAX when he/she has so many options out there?
Chances are, you would have a hard time finding someone who has never heard of “RE/MAX.” With 100,000 Sales Associates in nearly 100 countries worldwide, the RE/MAX name—along with the iconic balloon—represents a professional organization that has become an industry leader.
RE/MAX also advertises through many mediums, including: Television, print, online and physical signs such as NHL rink boards. This high level of exposure will go to work for you when listing your property. Many RE/MAX Sales Associates are also affiliated with the Children’s Miracle Network; therefore, the sale of a RE/MAX Miracle Home will help support your local children’s hospital. According to ComScore, RE/MAX Canada also leads other real estate brands with its significant traffic to remax.ca.
“In an uncertain market, consumers become less speculative. Instead, they rely on proven brands to reinforce their efforts to manage one of their most important investments. They rely on the experience and expertise that has made RE/MAX one of the most recognizable brands in the real estate world.”
RE/MAX Sales Associates have the experience to get the job done in today’s market.
The vast majority of our membership are full-time agents who are experts in their local communities. They work hard and are committed to help their clients through the home buying or selling process. *RE/MAX agents sell more real estate than any other Canadian brand.
“RE/MAX is often a collection of the top REALTORS® in any given marketplace. RE/MAX also has an international network: This type of network could be where the buyer of my client’s home comes from.”
Training and Support
RE/MAX supports all of its Sales Associates with comprehensive training and ongoing support.
Our affiliates are highly skilled and educated, and they have the latest tools and technology at their fingertips. They are motivated to put this knowledge and experience to work for you!