Good morning everyone;
Out Of Office Alert June 29th –July 6th
Just wanted to give an early notice that I will be away for the first week of July. As always I will have full coverage while I’m away.
Simply call my Office line at 416-849-2121 and my team of colleagues will take care of your real-estate needs.
Another glorious weekend awaits us and the Toronto patios are calling us to enjoy a bottle of suds while taking in a World Cup soccer game. Although I’m not a big soccer fan, it’s hard not to get excited and drawn in by the energy that is created around the city as everyone cheers on their team. Many adopt a team for the tournament and are just as passionate for the 3 weeks of Futeball. I cheer for whichever teams my sons’ route for. Right now it’s Mexico (I can’t figure out why?). Of course being of Italian and Portuguese background they route for those teams as well but not out loud as they are scared to see their teams possibly lose.
Gorgeous Lakeshore/Highpark Condo for Lease
This week I want to share a great space that I have listed for lease. It’s fantastic 970 Sqft luxury condo at Highpark and Lakeshore Bldv. Great views and layout on the 14th Floor. Take a look at the virtual tour link and contact me if you would like a private showing. It’s available for August 1st and is asking $2100 month unfurnished $2400/furnished (as seen in the virtual tour).
In the Market
Overall freehold inventory is still quite tight but the stats are showing some possible signs of a little bit of relief. As we head into the summer, typically sales begin to slow a bit. Over the last few years we have seen summer sales slow-down but prices maintain or even increase slightly going into the 2nd hottest selling season of fall.
What I have personally noticed is that many homes that for one reason or another were not selling as quick have now been “scooped up”. The increase in prices seems to make the market catch up to sellers’ sale price expectations in time.
June 17, 2014 — Toronto Real Estate Board President Dianne Usher announced that both sales and new listings were up substantially during the first 14 days
of June 2014 compared to the same period in 2013.
GREATER TORONTO REALTORS® REPORT MID MONTH RESALE HOUSING – MARKET FIGURES TORONTO, June 17, 2014 –
Toronto Real Estate Board President Dianne Usher announced that both sales and new listings were up substantially during the first 14 days of June 2014 compared to the same
period in 2013. “If the first two weeks of June are any indication, we may be seeing a turnaround in the supply of homes for sale in the Greater Toronto Area. New listings were up on a year-over-year basis for most major home types in the City of Toronto and surrounding regions. However, sales growth outpaced growth in new listings, which suggests that there is still a lot of pent-up demand yet to be satisfied, so sellers’ market conditions will likely remain in place for the remainder of 2014,” said Ms. Usher. Sales reported through the TorontoMLS system during the first two weeks of June amounted to 4,938 – up by 11.3 per cent in comparison to 2013. New listings were up over the same period by 7.8 per cent to
8,825. The average selling price for June mid-month transactions was $582,100, which represented an increase of 8.6 per cent compared to the average of $535,865 in 2013.
“Average selling prices were up across the GTA for low-rise home types like singles, semis and townhouses as well as for condominium apartments. This is no surprise given that the number of transactions was up compared to 2013 by a greater rate than the number of new listings, which suggests that competition between buyers arguably increased,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
TorontoMLS Sales & Average Price June1-14,2014 (416 Area) See PDF for Full Chart
Detached $942,000 / Semi-Detached $703,000 / Town Home $485,000 / Condo $398,000
TorontoMLS Sales & Average Price June1-14,2014 (905 Area) See PDF for Full Chart
Detached $652,000 / Semi-Detached $452,000 / Town Home $395,000 / Condo $301,000
Have fantastic weekend and a wonderful week!
Cheers and good fortune to you and your world cup team, Anthony