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Something About Mary…

The musings of a mother/wife/real estate/career woman

Market Update: What is TREB saying…

market-update-imageUsually, when speaking about the GTA real estate market, people think of bidding wars and bully offers on single, detached family homes. But the recently released Q3 TREB report on the condo and rental market paints a different picture.

Even though cranes working on condo sites are a common part of all of the GTA’s communities’ skylines, new condo listings are actually down from Q3 a year ago, by 13%. Sales, in the same time period, however, were up by a surprising 22%, with the average price reaching $415,000 – an increase by 9.6% compared to Q3 last year. “The annual rate of condominium apartment price growth has accelerated over the past year as the supply of units available for sale became more constrained while demand remained strong,” says Jason Mercer, TREB’s director of market analysis in the report. “With this said, however, annual rates of price growth remain well-below those for low-rise home types.”

Tied to this development is the effect on the condo rental market, where rents continue to rise. Especially one-bedroom and two-bedroom units seem to be attracting a lot of attention, and with it, increased rents. The average one-bedroom condo rental unit now stands at $1,777, where a two-bedroom unit goes for $2,419 on average. There is speculation that the rise in rents can be, in some part at least, attributed to the rise in popularity of sites such as AirBnB, where owners can rent out units on a daily, weekly or monthly basis.

Links to the reports:

http://www.trebhome.com/market_news/rental_reports/pdf/rental_report_Q3-2016.pdf

http://www.trebhome.com/market_news/condo_report/2016/condo_report_Q3-2016.pdf

 

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My new Oakville favourite

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It’s rare for me to dislike a modern build, and this one is no exception.

From the functional living spaces with a classic modern design; the 4-car garage; heated front steps and entry way to the impressive custom millwork and floor-to-ceiling windows with automated blinds, it’s the many, many unique extras that need to be seen –  words will not do it justice.

Click here to experience this home’s beauty!!

You can find the listing information here: http://www.rubenfurtado.com/listings/default/3/1429743728/25/

Housing Market Update

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905 housing market is picking up steam.

With average home prices topping out at close to $700k in the 416 area, many homebuyers are looking at the surrounding 905 areas to snatch up a deal. Double-digit growth in home prices has been recorded in 10 out of 11 905 areas.

There is mention of a cooling-down period attributed to Ottawa’s recent announcement on more rigorous mortgage restrictions but for now, areas such as Oshawa, Whitby, Hamilton and St. Catharines are seeing unprecedented growth in sales.

Link: http://www.cbc.ca/news/canada/toronto/toronto-home-prices-1.3802232

Minor setback at the gym

I’ve been feeling pretty good about my gym performances lately: regular attendances, keeping up with my trainer, feeling pretty good all around. Not sure what happened the other day, but I found myself in the middle of a session wanting to quit. Yes, you read it: QUIT. Continue reading “Minor setback at the gym”

Homes in the GTA – Can You Afford One?

Recent studies suggest that in order to be able to afford a home in the GTA, most households require annual earnings greater than $100,000. Continue reading “Homes in the GTA – Can You Afford One?”

Interest Rates

Read this article today about interest rates. Interested to know if you agree or disagree with the findings. Click here for the article.

Toronto Real Estate Board – Monthly Resale Housing Market Figures

The Toronto Real Estate Board (TREB) recently reported its resale housing figures for the month of June 2016. Continue reading “Toronto Real Estate Board – Monthly Resale Housing Market Figures”

Home IS where the heart is!

Boy, did I pick a hot and sticky day to door knock – 32 degrees, but it didn’t stop me… Continue reading “Home IS where the heart is!”

Do I really have room for more?

It appears I do!!!!!!

My crazy, super busy schedule now includes gym visits. Don’t get me wrong, it hasn’t been easy making yet more time for something else. But I knew, deep, deep, deeeeeeep down inside, that investing in my health would only bode well for the rest of my life. Continue reading “Do I really have room for more?”

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