Toronto Loft Conversions

I know classic brick and beam lofts! From warehouses to factories to churches, Laurin will help you find your perfect new loft.

Modern Toronto Lofts

Not just converted lofts, I can help you find the latest cool and modern space. There are tons of new urban spaces across the city.

Unique Toronto Homes

Not just lofts, we can also help you find that perfect house. From the latest architectural marvel to a piece of our Victorian past, the best and most creative spaces abound.

Condos in Toronto

I started off selling mainly condos, helping first time buyers get a foothold in the Toronto real estate market. Now working with investors and helping empty nesters find that perfect luxury suite.

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.


Resale housing market on solid ground in November

Canada News Wire

National resale hous­ing activ­ity con­tin­ues its return to nor­mal lev­els, hav­ing risen in Novem­ber 2010 for the fourth con­sec­u­tive month, accord­ing to sta­tis­tics released today by The Cana­dian Real Estate Asso­ci­a­tion (CREA).

Sea­son­ally adjusted national home sales activ­ity via the Mul­ti­ple List­ing Ser­vice® (MLS®) Sys­tems of Cana­dian real estate Boards climbed 4.8% in Novem­ber 2010. Although this is well short of record level activ­ity for the month of Novem­ber posted a year ago, sea­son­ally adjusted sales now stand 19.5% above lev­els recorded in July 2010, when it reached this year’s low point.

Sales activ­ity rose in many local mar­kets but eased in oth­ers,” said Georges Pahud, CREA Pres­i­dent. “Home buy­ers and sell­ers need to rec­og­nize that local and national mar­ket trends may dif­fer, and for that rea­son, they would do well to con­sult their local REALTOR® in order to under­stand how the hous­ing mar­ket is shap­ing up in their market.”

Sea­son­ally adjusted activ­ity was up from Octo­ber lev­els in two-thirds of all local mar­kets, includ­ing eight of Canada’s ten most active mar­kets. Month-over-month increases were reported in Cal­gary (+2.6%), Edmon­ton (+6.9%), Fraser Val­ley (+10.5%), Lon­don & St. Thomas (+6.5%), Mon­treal (+8.2%), Ottawa (+4.2%), Toronto (+6.0%), and Greater Van­cou­ver (+11.3%). These mar­kets accounted for more than half of national activ­ity in November.

Actual (not sea­son­ally adjusted) national sales activ­ity in Novem­ber 2010 was 9.3 per below lev­els in Novem­ber 2009.

The per­sis­tence of large year-over-year declines from last year’s record lev­els has been mask­ing the steady improve­ment in national sales activ­ity since July 2010.  A com­par­i­son of Novem­ber sales activ­ity to sales for the same month in pre­vi­ous years sug­gests that activ­ity is cur­rently run­ning at more nor­mal lev­els (Exhibit 1: http://​www​.crea​.ca/​p​u​b​l​i​c​/​n​e​w​s​_​s​t​a​t​s​/​p​d​f​s​/​2​0​1​0​_​1​2​_​1​5​_​m​e​d​i​a​_​r​e​p​o​r​t​_​e​n​.​pdf).

The num­ber of new res­i­den­tial list­ings on Cana­dian MLS® Sys­tems edged down 0.7% on a sea­son­ally adjusted basis in Novem­ber. New list­ings remain 14.6% below the peak reached in April 2010.

The national hous­ing mar­ket has been firm­ing up since July 2010 due to improv­ing sales activ­ity and a muted rise in new list­ings, but over­all remains bal­anced. About 60% of local mar­kets in Canada were in bal­anced mar­ket ter­ri­tory in Novem­ber. Of the remain­ing 40%, three-quarters of these mar­kets have a sales to new list­ings ratio con­sis­tent with a being clas­si­fied as a sell­ers’ market.

An increase in new list­ings is likely to return many sell­ers mar­kets to bal­anced ter­ri­tory over the com­ing months,” said Gre­gory Klump, CREA’s Chief Econ­o­mist. “With sales activ­ity hav­ing returned to bet­ter health and a firm floor under prices, sell­ers who pre­vi­ously shied away from putting their home on the mar­ket are expected to list their home in response to improved hous­ing demand in recent months.”

The num­ber of months of inven­tory rep­re­sents the num­ber of months it would take to sell cur­rent inven­to­ries at the cur­rent rate of sales activ­ity, and is another mea­sure of the bal­ance between hous­ing sup­ply and demand. The sea­son­ally adjusted num­ber of months of inven­tory stood at 5.8 months at the end of Novem­ber on a national basis. This is down from 6.1 months in Octo­ber. The num­ber of months of inven­tory now stands 1.4 months below the level reached in July 2010, when it stood at this year’s high­est level.

The national aver­age price for homes sold in Novem­ber 2010 was $344,268, up two% from Novem­ber 2009. Nearly two-thirds of local mar­kets recorded a year-over-year increase in aver­age price. In recent months, the national aver­age price has been influ­enced by ris­ing prices but fewer sales in some of Canada’s prici­est mar­kets com­pared to one year ago.

Fol­low­ing the chill­ing lows at the onset of the recent reces­sion and the dizzy­ing heights dur­ing the sub­se­quent recov­ery, the national hous­ing mar­ket appears to be return­ing to some sem­blance of nor­malcy,” said Klump. “Changes to mort­gage reg­u­la­tions ear­lier this year were pru­dent and suf­fi­cient, strik­ing the right bal­ance between pre­vent­ing spec­u­la­tive hous­ing mar­ket activ­ity and keep­ing home­own­er­ship afford­abil­ity within reach for cred­it­wor­thy home buy­ers. That’s a good thing, since hous­ing activ­ity helped sup­port Cana­dian eco­nomic growth this year. Ris­ing inter­est rates and weaker expected job growth are likely to con­tribute to softer prospects for hous­ing mar­ket activ­ity and aver­age price growth next year, reflect­ing weak­en­ing eco­nomic growth prospects.”

PLEASE NOTE: The infor­ma­tion con­tained in this news release com­bines both major mar­ket and national MLS® sales infor­ma­tion from the pre­vi­ous month.

CREA cau­tions that aver­age price infor­ma­tion can be use­ful in estab­lish­ing trends over time, but does not indi­cate actual prices in cen­tres com­prised of widely diver­gent neigh­bor­hoods or account for price dif­fer­en­tial between geo­graphic areas. Sta­tis­ti­cal infor­ma­tion con­tained in this report includes all hous­ing types.

MLS® is a co-operative mar­ket­ing sys­tem used only by Canada’s real estate Boards to ensure max­i­mum expo­sure of prop­er­ties listed for sale.

The Cana­dian Real Estate Asso­ci­a­tion (CREA) is one of Canada’s largest single-industry trade asso­ci­a­tions, rep­re­sent­ing more than 100,000 REALTORS® work­ing through more than 100 real estate Boards and Associations.

Fur­ther infor­ma­tion can be found at http://​www​.crea​.ca/​p​u​b​l​i​c​/​n​e​w​s​_​s​t​a​t​s​/​p​d​f​s​/​2​0​1​0​_​1​2​_​1​5​_​m​e​d​i​a​_​r​e​p​o​r​t​_​e​n​.​pdf and http://​www​.crea​.ca/​p​u​b​l​i​c​/​n​e​w​s​_​s​t​a​t​s​/​m​e​d​i​a​.​htm

Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.


Leave a Reply