Toronto Real Estate Blog: August 2012

Saturday, August 11, 2012

Brand new Condos in Prime Bathurst/Sheppard Area For Sale

Brand New Bathurst and Sheppard Condos Available

Friday, August 3, 2012

Toronto Real Estate Blog: GTA Commercial REALTORS® Report Commercial Market ...

Toronto Real Estate Blog: GTA Commercial REALTORS® Report Commercial Market ...: Toronto Real Estate Board (TREB) Commercial Division Members reported almost 440,000 square feet of leased commercial space through the T...

Toronto Real Estate Blog: August 2012 Toronto Real Estate Report

Toronto Real Estate Blog: August 2012 Toronto Real Estate Report: Toronto REALTORS® reported 7,570 sales in July 2012, representing a decline of 1.5 per cent compared to 7,683 sales reported in July 2011....

Toronto Real Estate Blog: August 2012 Toronto Real Estate Report

GTA Commercial REALTORS® Report Commercial Market Figures

Toronto Real Estate Board (TREB) Commercial Division Members reported almost 440,000 square feet of leased commercial space through the TorontoMLS system in July 2012. This represented a 33 per cent decline compared to July 2011.
Year-over-year changes in average lease rates were mixed. Average industrial and office lease rates for transactions completed on a per square foot net basis were up compared to July 2011, whereas average commercial/retail lease rates were down.
"Despite the impact of an uncertain economic outlook on exports and business investment in Canada, we still saw a substantial amount of space leased in July. Furthermore, demand remained strong enough to prompt a year-over-year increase in the average industrial lease rate. This is especially important given that industrial lease transactions accounted for 80 per cent of leased space through the TorontoMLS system last month," said TREB Commercial Division Chair Cynthia Lai.
TREB’s Commercial Division Members also reported 56 sales in July – an increase of 14 per cent compared to 49 transactions reported in July 2011. Average sale prices per square foot were down for industrial, commercial retail and office properties.
"Average sale prices can vary substantially from one year to the next based on the composition of sales. For example, a greater share of larger office properties changed hands last month which contributed to a lower average office lease rate compared to July 2011. Larger properties tend to sell for a lesser amount on a per square foot basis," noted Lai.
View the 2012 2nd Quarter Report by clicking on the link below:
http://www.ilisttorontohomes.com/account/78ab9f8164dfd923/pdfs/june_2012_commercial_mw.pdf

August 2012 Toronto Real Estate Report

Toronto REALTORS® reported 7,570 sales in July 2012, representing a decline of 1.5 per cent compared to 7,683 sales reported in July 2011. The decline was most pronounced in the condominium apartment segment in the City of Toronto. Total sales in the rest of the Greater Toronto Area (GTA) were up compared to the same period last year.

"Very strong annual sales growth in the first half of 2012 and an earlier peak in sales this spring compared to 2011 help explain more moderate sales this summer. New mortgage lending guidelines and the additional upfront cost of the City of Toronto land transfer tax also prompted some households to put their buying decision on hold," said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price in July 2012 was $476,947 – up by four per cent compared to July 2011. The MLS® Home Price Index (MLS® HPI)* composite index, which allows for an apples-to-apples comparison of benchmark home prices from one year to the next, was up by 7.1 per cent year-over-year.
"The GTA housing market became better-supplied in recent months. Buyers benefitted from more choice in the market place, resulting in less upward pressure on the average home price in July," said Jason Mercer, TREB’s Senior Manager of Market Analysis.
"The mix of homes sold in July 2012 versus July 2011 also appears to have changed, further influencing the average selling price. This is evidenced by the different annual rates of growth between the overall average price and the MLS HPI®," continued Mercer.
These types of market conditions are normal around this time of the year as the amount of listings on the market increases and the buyer pool for the year becomes smaller. The condo market in specific has seen a large number of new listings come on the market as new buildings start to close and investors who have bought for the purposes of resale are listing their units for sale. The month of August is usually a better month for buyers as the amount of listings are higher and demand is somewhat lower due to vacation season. There may be good opportunities on properties which have been listed for sale for some time and have not sold and sellers are starting to reduce prices, combined with this years low interest rates, this month will be a great time for buyers who are on hold to look at buying.
If you are interested in more info or would like to talk Real Estate feel welcome to contact me by email aprasoulis@trebnet.com or by telephone at 416-856-5408.
For the full report visit:
http://www.ilisttorontohomes.com/account/78ab9f8164dfd923/pdfs/august_2012.pdf