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January 2010: Real estate market in Toronto experienced just a short period of low activity and soft prices at the end of 2008 and beginning of 2009. The sales gained pace in the spring, and 2009 ended with a 17 percent increase in the number of sold properties from the previous year.
2009 was also a year of low inventories, and that caused bidding wars, especially in the central districts. Low interest rates and increased consumer confidence caused previously hesitant buyers to start an active search for a new residence.
February 1, 2009: Only four homes were sold in prime Riverdale in January, and not a single detached residence. Three of the sales happened on a small dead-end street east of Pape in the south part of the area, one was a small attached house north of Danforth. That caused all statistics to fall in a very low range.
At the beginning of February nine listings are available for sale, ranging in price from $439,900 for a small semi in need of renovation in the south part of this neighbourhood to $1,400,000 for an elegantly restored and renovated detached residence with a private drive in Playter Estates.
January 24, 2009: The number of real estate sales in Roncesvalles Village in 2009 were just under 75% of those recorded in 2008, and the average home prices were lower, but the difference in average prices were due to the comparatively large number of lofts, which are more affordable than freehold residences.
Freehold homes took, on average, two weeks from the time of listing to the firm sale. But most listings sold within a week, and two properties required three months each of market exposure.
The average sale-to-list price ratio for freehold residences was 103.7%, with thirty listings selling below asking price (twenty of these only marginally), nine for the asking price, and thirty two above asking. Out of those selling above asking fifteen sold for more than 110%, and six for 120% and more.
December 10, 2009: Real estate sales in the section of High Park neighbourhood located north of Bloor in 2009 were not much different from those recorded a year ago, either in number of properties sold, or average sale prices. And sale prices in the same property types came even closer. In detached homes, especially, there was no increase, so far this year, in average prices.
In November listings were selling at a fast pace. Out of eleven homes sold in November five were sold within five days of signing the listing, three under ten days, and two in about two weeks. Only one, small but cute townhouse in the north part of the area, took three weeks to sell.
Toronto home issues: Can you prolong the life of your existing roof?
When you hear the words “the property is under Power of Sale”, immediately you envisage a ‘great deal’. It may seem that you can pick up the property for a song.
A Power of Sale happens when a mortgago
When we talk about housing, we often mention "roof over our head". The roof is, certainly, one of the most important parts of any home, protecting the rest of the structure from water damage.
Toronto front yard parking does not follow property upon sale
Preparing your home for sale: getting rid of clutter
A letter from the City of Toronto recently received by Toronto Real Estate Board raises an issue of front yard, or boulevard, parking licenses. When a property with a front yard parking
The most important time for dealing with clutter is when we intend to list our homes for sale. A cluttered home looks and feels smaller, and does not show its best. The prospective buyer will not appreciate
Staging is a system of arranging home furnishings to create a welcoming atmosphere and a positive impact from the first moment a prospective buyer enters the door.
Staging is not a new concept. It has been used for years in other areas of business. Store windows, meals in a good restaurant, photos in magazines, they all are staged to achieve the same goal - a great first impression.
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