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October 21, 2008 - West Toronto Neighbourhoods section updated

We are working hard on improving our West Toronto Neighbourhoods guide. Jill gives you her take on a number of her favourite areas of West Toronto, providing information on housing structure, top restaurants and even some best kept secrets.

We have also re-drawn and improved the maps showing the boundaries of the neighbourhoods. Our goal is to introduce you to each major West Toronto neighbourhood so check back regularly.

October 14, 2008 - Resale in Toronto remains strong

Resale activity in the Toronto area remained strong in September, although with a large expansion of listings, price growth has slowed sharply, the latest edition of the Dunning Housing Market Digest reports:

"Expanded resale inventory is clearly hurting the market for new low-rise homes. I expect that there will soon be a slowdown for both Toronto and Canada."

Resale market activity dipped in August. August’s actual sales (6,318) equate to 77,300 seasonally adjusted.
The trend is close to the 80,000 level. In contrast to the health of the resale market, the new homes market has weakened very sharply this year. August actual sales (1,776) equate to 24,500 after seasonal-adjustment, which is the lowest monthly tally in 11 years, the Dunning report concludes.

September 23, 2008 - Housing boom is over in Canada

"The boom in the housing markets is definitely over," Tsur Somerville, a professor in the Sauder School of Business at University of British Columbia said in an interview with The Star. "Depending on where you live, you can likely expect prices to fall further."

Canadian housing prices are decelerating quickly with the steepest decline in more than a decade, The Star reported. Analysts say homeowners in some regions should prepare for further depreciation. The average price of a residential home was $316,052 in August, a year over year drop of 5.1 per cent and the most since 1996. These figures were released by the Canadian Real Estate Association. Millan Mulraine, economics strategist for TD Securities said:

"The report underscores the current shift in the Canadian housing market, as the tone of activity moves slightly closer to a buyer's market"

In August, the city of Toronto also recorded a slight 1 per cent decrease in housing prices – the first negative number in more than a decade, The Star article reads.

Jill Stewart

Higher Price - Less stress.

My goal is to obtain the highest price for your property with the least amount of stress. I have a long track record of achieving this goal and the Royal LePage awards to show for it in recognition of my success.