Double-digit gains characterize average price appreciation in most Toronto neighbourhoods in 2010, says RE/MAX
Mississauga, ON (July 14, 2010) - Toronto's
Mississauga, ON (July 14, 2010) - Toronto's
I have been trying to tell my buyers that Lorne Park is the place to live. I chatted with an new owner about his new life in Lorne Park. he said that for few years now his children had been enrolled in a private school. Now that he lives in Lorne Park, he has taken his kids out of private school and has enrolled them in the Lorne Park School District. He is so happy with the education and sports that are offered in these schools, and he is extremely happy with the teachers. "Well worth the move" were his words.
Here is a report that was provided to us thanks to Michael Polzler:
Mississauga, ON (July 14, 2010) - Toronto's housing market roared back to life in the first half of 2010, with single-detached homes and condominium apartments and townhouses posting unprecedented double-digit gains in average price in most districts, according to a report released today by RE/MAX Ontario-Atlantic Canada. This is in stark contrast to the July 2009 RE/MAX report that found that values in approximately 80 per cent of neighbourhoods surveyed in Toronto had depreciated over the same period in 2008.
RE/MAX examined 63 Toronto Real Estate Board (TREB) districts in the single-detached category between January and June of 2010 and found that 85.7 per cent experienced double-digit gains. Mississauga's Lorne Park (W13) led in terms of percentage increase in average price with a 30.2 per cent upswing in the first six months of the year, bringing year-to-date values in the area to $880,373 (vs. $676289 in 2009 and $830,041 in 2008). Markham (N01) ranked second with a 27.7 per cent jump to $779,168 (vs. $610,322 in 2009 and $683,050 in 2008) while Armour Heights, Bathurst Manor (C06) came in a close third at 27.5 per cent (rising to $732,535 from $574,599 in 2009 and $589,808 one year earlier). Mississauga's Creditview, Erindale area (W16) secured fourth spot with an average price of $561,973-up 26.5 per cent over 2009's $444,221 and 2008's $476,877. Rounding out the top five was York Mills, Hogg's Hollow, Bridle Path (C12) with a 26.2 per cent increase over last year and an average price of $1,868,591 (vs. $1,480,296 in 2009 and $1,580,851 in 2008).
"While first-time buyers dominated housing markets during the first half of 2009, move-up buyers ruled during January to June of 2010," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "Rising interest rates and the introduction of the Harmonized Sales Tax (HST) in the province helped drive activity, with more than 50,000 sales reported year-to-date-a figure on par with record 2007 levels."
Now that the summer market has arrived, the rising interest rates have been dealt with, HST is here and complaining about it doesn't help, and summer holiday season has kind of taken it's toll on the market. I am finding that homes are not coming on the market as was previously expected. I'm still hoping for more. It is still a relatively stable market.
For more information, give me a call directly at 416 427 1875. Visit my web site and find information that should be useful to you as either a buyer or a seller.
Can I help? Call me. No pressure tactics. Your decision is the decision that I will respect.
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
905 828 3434
FINE HOMES IN 905
416 427 1875
bettybart.com
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