What’s new ?

September 14, 2008 - Low-rise market weakens sharply in August

July’s new home sales were only slightly changed from June’s, as actual sales (3,135) equate to 40,400 after seasonal-adjustment, up from 39,000 in June. Low-rise sales dropped sharply, with 850 actual sales equal to 11,300 seasonally-adjusted. Will Dunning explains:

"A variety of factors explain this, including reduced supply of new product, but also a sharply expanded resale inventory and uncertainty about the economy."

Resale market activity has exceeded 80,000 for four consecutive months and is now similar to levels seen in 2005 and 2006, the Dunning report concludes.

September 5, 2008 - Resale housing remains steady

The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill said in a press release. The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent. Ms O’Neill is happy to see these figures:

“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make.”

With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059.

Despite August’s moderate sales, the 57,364 transactions that have occurred this year are within 14 per cent of the 67,146 figure recorded a year ago, Ms. O’Neill concluded.

You can read the whole press release and more detailed stats by clicking here.

August 25, 2008 - Prepare yourself for closing costs

If you are buying or selling a property, you should know of all the closing costs you can expect to pay. That's why we have published a list of all the extra costs that you'll have to face upon fascilitating the transaction.

Click here to view our lists of closing costs for buyers and closing costs for sellers.

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.