The trend toward more balanced market conditions continued in June with 8,600 properties changing hands, Toronto Real Estate Board President Maureen O’Neill announced
today.

It is important to note that in this release you will also find market numbers specific to the resale housing activity in 2006 and 2007. This comparison is provided to help present a more accurate perspective of the resale housing market of 2008.

At $395,866, the Greater Toronto Area average price for last month increased by four per cent compared to June 2007 when it was $381,963. The City of Toronto’s average price of $433,082 last month increased three per cent from $421,139 in June 2007. In the 905 Region, last month’s average was $370,559, an increase of four per cent, from $355,240 in June 2007.

Click to read more ...

Canadian realtors are bracing for a customer backlash starting today, as they become new foot soldiers in the battle against money-laundering.

Federal regulations that kick in today will force realtors to start asking property sellers and buyers personal information never before required.

In Ontario alone, 47,000 realtors will be expected to fall in line or face stiff penalties.

Click to read more ...

Although people's eyes glaze over at the mention of Statistics Canada, the latest 2006 census make interesting reading, particularly as they relate to a favourite topic of dinner-party conversation - Toronto's booming condo market.

Over the past year, Statistics Canada has been releasing the results of the 2006 census and the findings illustrate how demographic changes have been and will continue to shape housing needs across the Toronto Census Metropolitan Area (CMA) in favour of condominium living. This explains in large part why new high-rise condo sales have accounted for a growing share of total new-home sales in the area over the past several years and actually exceeded new low-rise (single-detached, semi-detached, townhomes) sales for the first time in 2007 by capturing 52% market share, according to RealNet Canada.

Click to read more ...

The Greater Toronto Area (GTA) resale housing market continued at a moderate but healthy pace throughout the first half of June, Toronto Real Estate Board President Maureen O’Neill announced today.

Prices continued their upward trend in the first half of this month. The GTA average price is currently $398,542, up four per cent over the $384,576 average from the same timeframe a year ago and up 11 per cent from the $358,648 recorded at mid-June 2006.

In the City of Toronto the current average price is $439,469, up three per cent over the $424,888 average a year ago and up 14 per cent over the $386,960 average in the first half of June 2006.

Click to read more ...

With 17 new condominium projects already launched in the first quarter, data from a survey by Urbanation, which monitors the condo market's performance, shows divergence between low-rise and high-rise real estate markets, with the high-rise condo market retaining strength in pricing per square foot and volume of units sold.

The hottest area for new condominium construction and sales continues to be the former City of Toronto, representing 50% of the GTA's condo development activity.

Click to read more ...