April 5th, 2013- The number of Toronto home sales are down 17% but sale prices are up 3.8% since March 2012. There is pent up demand for certain types of homes since there is still low inventory. For instance, prices of detached houses in North Toronto (C04) are up 9.5% on average from last year. Downtown condo apartments prices (C01) are up on average 4.7%. Read the entire Market Watch report for yourself.
March 6, 2013- Average sale prices in Toronto are up 2% from this time last year. The number of sales is down 15%. The forecast for low-rise properties is expected to gain a moderate 3% in value for 2013. This according to the Toronto Real Estate Board’s Market Watch Report. My guess regarding condos: the newer high rise downtown market will be flat but the low-rise and midtown condo values will be strong with at least a 3% increase in value this year. Smart time to downsize or enter the real estate market…Andrea Stark
December 7th, 2012- According to the stats out this week, home sales in Toronto are down 16% from last year but sale prices are moderately up 1.6%. The main reasons for the softer market seem to the stricter mortgage lending rules on top of the insane double Toronto Land Transfer Tax. Read full details of TREB’s Market Watch Report. Make your voice heard against the painful tax which penalizes buyers by visiting: Let’s Get This Right, Toronto!
June 17th, 2012- Last week’s 8th Annual Pug Awards, (which are apparently chosen by the public), for the best and worst public architecture in Toronto, were held at last year’s winner for best commercial building: the Bell Tiff Lightbox. The evening was moderated by Anna Simone, of Cecconi Simone Interiors and Gary Berman, a developer, (Tricon Capital). There was an enlightening discussion by the panel of Kyle Rae, former City Councillor, Christopher Hume of the Toronto Star, and John Bentley Mays of the Globe and Mail. They tackled questions like: Is Toronto living up to its design potential? Does Toronto deserve world class status? The winner of the best residential building was 83 Redpath, which isn’t bad architecturally, but personally, I don’t find the interiors well designed at all. The winner of the best commercial building was the Evergreen Brick Works, which was a fine choice. There was also an honourable mention for the Five Thieves Shops of Summerhill, developed by the late Paul Oberman. It’s a great idea to allow Torontonians to offer their opinions on the buildings around us. Unfortunately, so far, no one discusses the interior layouts of these buildings, workmanship, or the quality of materials used. What do you think about this year’s winners?