All Toronto Mortgages

Michael Pezzack, a Toronto based mortgage consultant for Mortgage Intelligence, the largest volume independent mortgage broker in Canada, has launched his own website today, All Toronto Mortgages (www.alltorontomortgages.com). Michael is a Preferred Partner of the House Hunting In Toronto real estate team.

All Toronto Mortgages is a website based on the same principles as House Hunting In Toronto: providing visitors with comprehensive and freely available information without asking an e-mail address or phone number first. We do not send Spam e-mails or call you without your request anyhow, so why ask for contact information when you are doing your research? We feel many prospective home buyers do appriciate this approach and remember it when they are ready to take the next step.

At All Toronto Mortgages, Michael has also published a free online mortgage seminar that outlines every detail of the mortgage process. You can download this free 3D Digital Mortgage Book at http://www.alltorontomortgages.com/free_online_mortgage_book.htm.

Home resales up 24 per cent in first half of June

TORONTO, June 19, 2007 -- During the first fifteen days of June, resale home transactions jumped 24 per cent compared to the same timeframe a year ago, Toronto Real Estate Board President Dorothy Mason announced today. The first half of the month yielded a remarkable 5,074 sales, an increase of 1,000 transactions from last year's mid-June figures. This total was also 12 per cent higher than the 4,522 sales recorded in the first half of May, which ended as the most active month ever.

“We are going through one of the strongest spring markets ever,” Mrs. Mason said. “There is a lot of momentum carrying over from that and it bodes well as we move into summer.”In Scarborough Centre / Woburn (E09), sales of detached homes doubled as 38 per cent more overall transactions took place compared to mid-June a year ago.

Alderwood / Mimico (W06) in Toronto's west end saw an overall increase in activity of 50 per cent compared to figures from last year.

Toronto's Annex neighbourhood (C02) saw the number of transactions to mid-June increase by 61 per cent compared to 2006.

Outside the city, brisk sales of town homes and detached homes in central Vaughan (N08) led the way as overall transactions increased 53 per cent over the same timeframe a year ago.
The average price of a resale home at mid-month was $384,576, an increase of seven per cent over the $358,648 recorded during the first half of June 2006. Inventory stood at 23,725 listings, reflecting a good amount of choice and helping to keep price increases under control.
“We have strong local and national economies, great value in the marketplace and solid returns on investment,” TREB's President said. “It's an excellent time to be in the market, and savvy consumers are taking advantage of these great conditions.”

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Toronto Housing Market Reaches New Heights!

TORONTO, Tuesday, June 5, 2007 -- With an astonishing 11,146 sales in May, the Toronto Real Estate market put in its best performance since records have been kept, President Dorothy Mason announced today. "The Toronto Real Estate Board has been tracking the local housing market for over forty years, and there has never been a month that even approaches this level of activity," Ms. Mason stated. "May was up 18 per cent over April, our previous record month (9,452 sales), and also up 18 per cent over May of 2006 (9,434 sales), which now ranks as the third highest sales total recorded."
Ms. Mason further noted that, according to statistics compiled by the Canadian Real Estate Association, every home sale generates about $27,000 in economic activity (for renovations, furniture purchases, and so forth) over and above direct expenditures involved in the transaction. "This means that Realtors® and their clients have contributed over $300 million to the local economy in ancillary costs last month alone."
However, while sales sky-rocketed, price increases were restrained, with the average rising a mere five per cent to $382,787 from the $365,537 recorded during May of 2006.
Breaking down the total, 4,175 sales were reported in TREB’s 28 West districts and averaged $356,836; 2,038 sales were reported in the 14 Central districts and averaged $506,172; 2,323 sales were reported in the 23 North districts and averaged $408,391; and 2,610 sales were reported in TREB’s 21 East districts and averaged $305,168.
Neighbourhood Corner
Brampton
Year-to-date sales in Brampton have reached 3 ,620, up 10 per cent over the 3,296 sales recorded to May of last year. Of these, 2,038 were detached homes, which averaged $354,834, a four per cent increase over the first five months of 2006. Another, 749 transactions involved semi-detached homes, which sold for an average of $273,979, up three per cent over the same time one year ago.

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April showers don’t dampen home sales

TORONTO, April 18, 2007 -- The GTA resale housing market got off to a strong start in April, with mid-month sales coming in one per cent ahead of mid-April 2006, Toronto Real Estate Board President Dorothy Mason announced today.

The 4,175 transactions recorded in the first half of the month surpass the mid-April total of 4,140 sales recorded in 2006. Meanwhile, year-to-date figures for 2007 are nearly two per cent ahead of last year’s pace.

“We are very encouraged by the stability of the GTA market,” Mrs. Mason said. “Activity is strong yet controlled, and great economic fundamentals continue to keep things moving in the right direction.”

The average price of a home in the GTA reached $372,169 in the first half of April, up one per cent over the same timeframe in April 2006 when prices averaged $366,878. The median price rose three per cent to $315,000. Active listings were down five per cent from the same time in 2006, to 22,711.

Strong activity across all housing types in the Beach (E02) helped push overall sales up 44 per cent compared to mid-April of 2006.

The condo boom in Mississauga’s city centre (W15) was largely responsible for an overall sales increase of 41 per cent in the area, compared to mid-April of last year.

Toronto’s Forest Hill neighbourhood (C03) saw 54 per cent more overall transactions than to the same point a year ago, fueled mostly by detached home sales.

In Bayview Village / Hillcrest Village (C15), overall transactions increased by 36 per cent compared to the same timeframe in 2006.

“Consumers are showing a lot of confidence in this market,” Mrs. Mason said. “Their investments are showing steady returns, yet the market is still accessible to a variety of buyers.”

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Home sales stay steady

TORONTO, March 19, 2007 -- The Toronto Area resale housing market maintained a solid pace through the first half of March, Toronto Real Estate Board President Dorothy Mason announced today.

The first half of the month yielded 3,714 transactions, nearly on par with the 3,755 sales recorded in the same timeframe last year.

“The year has begun very well,” Mrs. Mason said. “The market hasn't lost any steam despite a very strong start, and to date, the sales pace for this year is still three per cent ahead of last year's pace.”

In Mimico / New Toronto (W06), a large increase in condominium activity and brisk detached home sales contributed to an overall sales increase of 54 per cent compared to mid-March of 2006.

East of Toronto in Ajax (E14), an increase in sales of detached homes and townhomes helped push overall sales 32 per cent higher than mid-March a year ago.

Detached homes were the most popular housing type in Thornhill (N02), as the area saw 22 per cent more overall transactions compared with the same timeframe last year.

The average price of a home rose in March, increasing two per cent to $367,531 over the $360,294 recorded during the first half of March 2006. It is also up two per cent over the $358,533 recorded during the same timeframe in February. The average time-on-market for a home was 31 days to mid-month, and the list-to-sale price ratio was 98%.

“Consumers are reaping the benefits of a strong economy, favourable interest rates and a very solid housing market,” Mrs. Mason said. “Right now is an excellent opportunity to take the plunge into a different home or get started in the market for the first time.”

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February stays right on track

TORONTO, March 6, 2007 -- Resale housing activity in the month of February was slightly higher than a year ago, Toronto Real Estate Board President Dorothy Mason announced today. A total of 6,772 transactions took place in the month, as compared to 6,756 in February 2006.
“Sales activity has been strong to begin the year,” Mrs. Mason said. “Results from the first two months show that so far 2007 is five per cent ahead of last year's pace.”

“The important thing is that we are seeing strong results on a consistent basis, which speaks volumes about the stability of the market,” Mrs. Mason added. “As we head into the most active part of the year, it's an excellent time to get into the market for the first time or make a switch to a different home.”

In Scarborough Town Centre / Woburn (E09), a jump in sales of detached homes pushed overall activity up 22 per cent compared to February 2006.

Strong condominium apartment sales in Mimico / New Toronto (W06) contributed to a 29 per cent increase in overall transactions compared to a year ago.

Central Toronto's Davisville neighbourhood (C10) saw 20 per cent more transactions than the same month a year ago, with strong sales among most housing types.

North of Toronto in Newmarket (N07), detached homes were the most popular type as transactions increased 32 per cent compared to last February.

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Second Best February Ever!

TORONTO - Monday, March 6, 2007 --TREB Members reported 6,772 sales in February, an increase over February 2006 (6,756 sales) and the second best total for this month ever recorded, TREB President Dorothy Mason announced today. "While the weather last month may have been cold, Toronto's resale housing market remained hot," noted Ms. Mason. "And while it is too early to make predictions, it is clear from the start of 2007 that the spring season is likely to produce sales numbers at east comparable to those of the past several years, which have been record or near-record performances."

Meanwhile, average prices climbed four per cent over the previous month to $368,687 as sales activity accelerated. They were also up four per cent from the February 2006 figure of $353,928.

The average time-on-market was a torrid 35 days.

Breaking down the total, 2,522 sales were reported in TREB’s 28 West districts and averaged $342,060; 1,224 sales were reported in the 14 Central districts and averaged $504,381; 1,395 sales were reported in the 23 North districts and averaged $389,306; and 1,631 sales were reported in TREB’s 21 East districts and averaged $290,392.

Neighbourhood Corner
Unionville
So far this year, 10 of the 14 sales in Unionville (part of N-11) were of detached homes. These averaged $641,390, up 22 per cent over the $523,188 recorded during the first two months of 2006.

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Best January Ever!

TORONTO - Tuesday, February 6, 2007 -- The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB President Dorothy Mason announced today. "This figure is up 13 per cent over last January, and up six per cent over the 4,869 sales recorded in January of 2002, which was the previous record for the month."

Meanwhile, average prices climbed in January to $353,724, up five per cent over December and up six per cent over the $332,687 recorded in January 2006. "While one shouldn't read too much into a single month's result," the President said. "January's record breaking performance is an encouraging sign for the year ahead."

Breaking down the total, 1,975 sales were reported in TREB’s 28 West districts and averaged $335,116; 878 sales were reported in the 14 Central districts and averaged $462,211; 1,082 sales were reported in the 23 North districts and averaged $383,806; and 1,238 sales were reported in TREB’s 21 East districts and averaged $280,178.

Neighbourhood Corner
Mississauga
In January, Mississauga (W12-W20) recorded 667 sales, a 10 per cent increase over the 2006 total for the same month. The average price was $335,252, up 10 per cent over the $305,464 recorded during January of 2006. In addition, there were 219 sales of Detached homes in the Mississauga, which averaged $478,889, a seven per cent increase over the same time period last year ($448,889).

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Strong start for 2007

TORONTO, February 6, 2007 -- The January resale housing market was the best January ever, registering 13 per cent more transactions than a year ago, Toronto Real Estate Board President Dorothy Mason announced today. The 5,173 sales in the month were six per cent above the previous record set in January 2002.

“Sales have been very solid to start the year,” Mrs. Mason said. “It's a very good sign for the market to see a healthy level of activity carrying over from last year's strong finish.”
Scarborough's Birchmount Park / Cliffside area (E06) saw 55 per cent more overall sales compared to last January, with detached homes accounting for nearly all transactions.
In the Islington / Kingsway area of Etobicoke, a jump in condominium transactions helped to push overall sales 42 per cent higher than January 2006.

An increase in sales of condominiums and semi-detached homes helped lift Forest Hill to an overall increase of 56 per cent over January of last year.

North of the city, in Markham West / Langstaff (N01), 50 per cent more homes changed hands in January than during the same month a year ago.

Ted Tsiakopoulos, CMHC's Ontario regional economist, noted that Toronto's housing market has been a very stable sector of the economy. “The market remains resilient despite slower job growth, high energy prices, and a loss of migrants to western Canada,” Mr. Tsiakopoulos said. “Historically low interest rates, strong income growth and healthy consumer confidence are important factors keeping January home sales buoyant across the GTA.”

TREB's President added that while the results are preliminary, they should instill confidence in consumers. “The housing market is healthy and continues to be well supported by strong economic fundamentals,” Mrs. Mason said. “These are ideal conditions, and consumers can feel confident making a switch to another home or realizing their dream of home ownership for the first time.”

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