Market Update For The Week Ending September 26th - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale

Market Update For The Week Ending September 26th

29 September 2014
Bosley Real Estate

Last week a friend remarked that his summer lasted exactly one day. He remembered that Wednesday well. It was hot and sunny. So, yeah, everyone complained about our lousy summer. In fact it was just one of the many hot topics going around the city. Naturally there was the chance of post season baseball, mayoral antics continued, and we were all bogged down in traffic. But by far, the hottest topic making the rounds was our real estate market. It appears that everyone had a story about multiple and pre-emptive offers.

After a brief respite from the heavy spring activity, the freehold market has picked up just where it left off. Consider that at the top of the Spring Market, there were 573 homes available. This week we are trending just slightly higher at 586. It is interesting to note the big trade off in the central core where there are 30% fewer listings in the $400-$700k price range and 50% more listings in the $3m+ range. Comparatively speaking, the number of sales remains unchanged with one in every three houses selling per week and the number of those homes selling in multiple offers stands at 65%.

If you’ve been stuck in traffic along the Gardiner over the past few months then you’ve probably noticed all the cranes in the sky. With no slowdown in sight, it appears that our condominium market is as strong as ever. The numbers back up that consensus. 13.7% fewer condos available for sale since the booming spring market but a remarkable 6.3% more sales. Also interesting to note that multiple offers are on the rise with over 26% of sold condos attracting more than one buyer.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto and Niagara-on-the-Lake since 1928. We have four centrally located offices and over 220 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized 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.

Here Are The Top Five Trending Stories Of The Week:                    

GTA Home Buyers Prefer Walkable NeighbourhoodsGTA Home Buyers Prefer Walkable Neighbourhoods, Study Says

Increasingly, buyers say they’d choose a walkable, transit-oriented location over a larger home, if cost weren’t an issue, says a study for the Pembina Institute and RBC.

Bosley - SOLDCould Targeted Land Transfer Taxes Cool Canada's Hottest Markets?

Ontario’s real estate association has launched an ad campaign to explain why they believe land transfer taxes hurt the economy. But in a hot housing market, could the tax be used to cool particular regions, such as Toronto and Vancouver?

Carolyn WilkinsBank Of Canada's 'New Neutral' Interest Rate Could Be Lower And Later Than Expected

When the dust finally settles after years of low interest rates, the nagging question remains: Where will they need to be to keep economic output humming at full capacity without fanning inflation?

Sold SignCanadian Home Ownership More Costly Than Thought, BMO Report Says

New home hunters be warned: The price you expect to pay for a new home is likely $83,556 short of what you'll actually end up spending, according to a new survey.


Harper Dismisses Reports Of A Canadian Housing Bubble

Prime Minister Stephen Harper says Canada is not facing a housing crisis, despite analyst fears that the market may be on the verge of a serious decline.