Bosley Real Estate Market Insight October 30th, 2015 - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale

Bosley Real Estate Market Insight October 30th, 2015

  • Bosley Real Estate
  • 03 November 2015

With no distractions to stand in our way for at least the next month we knew that we would see a return to a more traditional fall market. Things got off on the right foot two weeks ago and the steady pace of more listings and sales has continued just as we predicted. With two months left in 2015 there is still plenty of transactions on the horizon and our research shows there are plenty of buyers waiting for the perfect home.

Freehold listings are up for the third week in a row reaching just shy of 400 units in the downtown core.  The single biggest growth segment being in the $1.5M- $3M price range in the central core. Overall, this represents just 4.5% fewer listings than the same week one year ago. While sales are also trending 8.7% higher than the previous week they aren’t as high as they were last year (200 compared to 229). Homes trading at or above the list price is at a very respectable 55%, well within the range we have seen for a strong fall market.

Following three straight weeks of falling resale condominium listings last week we witnessed a 14.4% spike in available units. The number of sales remained unchanged from the previous week (216) and the percentage of units sold at or above the list price was a very healthy 23.1%. The hot spot of the week was the $400k-$700k segment in the east core where over half the units sold at or above the list price. Overall, sales are up 13.1% more than a year ago.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake and Jordan, Ontario since 1928. We have four centrally located offices and over 240 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately report on the true temperature of the real estate market. 


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Here Are The Top Five Trending Stories Of The Week:

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UNSOLD CONDOS IN TORONTO NOT A SIGN OF BUBBLE ABOUT TO POP: ECONOMIST

Toronto’s condo sector has seen rising numbers of newly built, but unsold condos this year, raising red flags among some industry watchers. but Canadian imperial bank of commerce economist Benjamin Tal insists those who see the trend as a sign of a condo bubble about to pop “are barking up the wrong tree.”


PLAN CAREFULLY BEFORE DOWNSIZING YOUR HOUSE

Canada’s housing market has been on a terrific run, helped by low interest rates, pushing home values up and tempting downsizing baby boomers looking to add to their nest egg into cashing out.

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WYNNE PLANS TO EXPAND TAX GRAB, DESPITE PROMISE

The majority win by Justin Trudeau’s federal Liberal Party in October 19th's election pushes Trudeau’s campaign promises of an overhaul of Canada’s tax system and increased infrastructure spending to the forefront, according to a TD Economics note to investors released October 20.



DOWNSIZING TO A CONDO IN RETIREMENT WON’T ALWAYS CUT YOUR COSTS

Downsizing is such a misleading term for retirees. You downsize your living space when you sell the family home and move into a condominium, not your cost of living. So budget for roughly the same living costs in a condo as you had in your house, give or take a bit. You’ll have smaller quarters, but similar or even higher expenses.

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ECONOMIST SAYS BANK OF CANADA AND INVESTORS SHORTING CANADIAN HOUSING SHOULD LOOK CLOSER AT NUMBERS

It was just four Toronto condominium developers and questionable statistical reporting that led to news earlier this year about a glut of high-rise units in Canada’s largest market, says a new report.

The predicted death of the suburbs may be a little premature, according to a new report that suggests renters looking to own may have no place else to turn.