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Toronto Real Estate Market Report: December 2011 Statistics

Following is TREB’s market report for December 2011:Greater Toronto REALTORS® reported 4,718 transactions through the TorontoMLS® system in December 2011. The December result capped off the second-best year on record under the current Toronto Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010.

 “Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” said TREB President Richard Silver. “If Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater Toronto Area,” added Silver.

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What’s In Store For The 2012 Real Estate Market?

Last month, the Toronto Real Estate Board posted the above video to their YouTube channel. In the video, Senior Manager of Market Analysis, Jason Mercer, takes a look back at the 2011 real estate market and a look forward to what we can expect in 2012. Warning: the video is over 25 minutes long! Not to worry – I sat through the entire thing myself and have summarized the main points below (you’re welcome).

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Toronto Real Estate Market Report: November 2011 Statistics

Following is TREB’s market report for November 2011:  Greater Toronto REALTORS® reported 7,092 residential transactions through the TorontoMLS® system in November – up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year.

“We have seen strong annual sales growth through the 2011 fall market. The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” said Toronto Real Estate Board (TREB) President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.”

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Toronto Real Estate Market Report: October 2011 Statistics

Following is TREB’s market report for October 2011: Greater Toronto REALTORS® reported 7,642 home sales through the TorontoMLS® in October 2011. This represented an increase of 17.5 per cent compared to the 6,504 transactions reported in October 2010.

Monthly sales data follow a recurring seasonal trend that should be removed before comparing monthly results within the same year. After adjusting for seasonality, the annualized rate of sales for October was 97,100, which was above the average of 90,700 for the first three quarters of 2011.

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Toronto Real Estate Market Report: September 2011 Statistics

Following is TREB’s market report for September 2011:  Greater Toronto REALTORS® reported 7,658 transactions through the TorontoMLS® system in September – a 25 per cent increase over September 2010. Sales during the first three quarters of 2011 amounted to 70,588, representing a 2.6 per cent increase compared to the first nine months of 2010.

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Say No To Status Quo And Repeal The Toronto Land Transfer Tax

A few months ago I wrote a BLOG post titled, “How Much Can You Expect To Pay In Land Transfer Taxes?” (read it here).  I provided a breakdown of how the various provinces calculate these taxes.  I even linked to a handy little calculator that shows just how much a resident of Toronto has to pay.  Let’s just say… it’s not chump change.

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Toronto Real Estate Market Report: August 2011 Statistics

Following is TREB’s market report for August 2011:  Greater Toronto REALTORS® reported 7,542 sales through the Toronto MLS® system in August – a 24 per cent increase over 6,083 sales in August 2010.  New listings, at 12,509, were up by 20 per cent compared to August 2010.  Market conditions remained tight as sales growth outstripped growth in new listings.

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Toronto Real Estate Market Report: July 2011 Statistics

Following is TREB’s market report for July 2011:  Greater Toronto REALTORS® reported 7,922 transactions through the Toronto MLS® system in July 2011, representing a 23 per cent increase over July 2010.  Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 per cent compared to the same period in 2010.

After adjusting for seasonal fluctuations, the July figures continued to point to an annual sales result close to 90,000 – in line with results from the previous six months.

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Challenge Issued… Challenge Accepted!

By on July 27, 2011 in Events, Neighbourhoods, Video with 0 Comments

I opened my email this morning to find a message from my office with the subject line, “Realtor Food Bank Challenge“.  Apparently, my brokerage (and a few others in downtown’s west-end) have been publicly challenged by Mark McClean from Bosley Real Estate Ltd. to a food drive for the Parkdale Community Food Bank (check out the video above).  What’s my personal reaction to the challenge?  I think it’s a brilliant idea (good on ya’, Mark!) and I humbly accept.

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Toronto Real Estate Market Report: June 2011 Statistics

Following is TREB’s market report for June 2011:  Greater Toronto REALTORS® reported 10,230 home sales through the TorontoMLS® system in June 2011 – up 21 per cent compared to June 2010. This number represented the third best June result on record behind 2007 and 2009. The number of transactions during the first six months of 2011 amounted to 48,189 – down by 4.5 per cent compared to the first half of 2010.

“The strong June result capped off an interesting first half of 2011,” said Toronto Real Estate Board President Richard Silver. “The pace of sales was a bit sluggish at the beginning of the year, but rebounded in May and June. Because of the positive affordability picture, home buyers remained confident in their ability to purchase and pay for a home over the long term.”

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