| TREB statistics show a definite flattening of the number of new MLS listings over the last number of quarters at just under 14,000 listings. This shows the current lowering of of volume is a natural result of this flattening of the new listings. Overall this has left. Decrease in effective homes for sale while the number of actual sales has stayed strong. Pair the above observation with the continuing higher average sales price and you can see demand is strong. There is a very simple correlation between supply and demand. When supply goes down and price goes up, simple economics supply and demand theory states we have a strong market. So do not expect a large drop in prices due to the pent up demand that is still evident in our Toronto and Area market. | ||
Showing posts with label TREB. Show all posts
Showing posts with label TREB. Show all posts
Sunday, March 3, 2013
Number of new listings on TREB flattening
Monday, March 14, 2011
Average Selling Price Up in February in GTA
TORONTO - March 3, 2011
Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14 per cent lower than the record sales reported in February 2010. While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years. "Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.The average selling price for
February 2011 transactions was $454,423, which was more than five per cent higher than the average selling price reported in February 2010. “Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Sen
Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14 per cent lower than the record sales reported in February 2010. While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years. "Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.The average selling price for
February 2011 transactions was $454,423, which was more than five per cent higher than the average selling price reported in February 2010. “Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Sen
Tuesday, March 23, 2010
Toronto Real Estate Board President's March Message
Tom Lebour, President Toronto Real Estate Board, March 15, 2010 -- Moving our clocks forward and an upcoming meeting in Ottawa are two perennial signs that spring is upon us, and the important issues being discussed at the Canadian Real Estate Association’s Annual General Meeting March 22nd are sure to make for an interesting start to the season.
You’re probably aware that last month the Commissioner of Competition filed a Notice of Application against CREA seeking to strike down certain CREA rules. One week prior to the Notice of Application, CREA advised the Commissioner of Competition and the Competition Bureau of its intention to move forward with rule changes to address the issues raised by the Bureau. Delegates from real estate boards and associations throughout the country, including Members of TREB’s Board of Directors, will vote on the proposed rule changes March 22nd.
If you’re interested in learning more about the proposed rule changes, a video message delivered by CREA’s external Competition Law counsel Katherine Kay, is posted on TorontoMLS. Further information on this issue is available under a tab called ‘Competition Bureau Information Zone’ on REALTORLink, which can be accessed directly from the TorontoMLS homepage. It includes CREA Dispatch 2010-03, which also outlines the proposed rule changes, on pages four and five of the document. Stay tuned to REALTORlink for an update as to the outcome of next week’s discussions.
Revisions to CREA’s television advertising campaign are also underway. Scheduled to be introduced April 5th, the campaign has been re-geared to reflect a more serious tone, focusing on the professional services that REALTORS® offer. TREB’s Board of Directors will soon be considering the development of a new advertising campaign as well, potentially focused on Buyer representation.
You may recall that last September I told you about the formation of a Buyers’ Services Task Force. The work of this group is progressing well, with a number of recommendations soon to be considered. This year’s new focus on Buyers’ Services extends beyond the Task Force as well.
Recently for example, a TREB-designed interface to facilitate Internet Data Exchange (IDX) was introduced. To date, more than 100 brokerages have taken advantage of this opportunity to advertise their listings on each other’s websites through reciprocal agreements.
The Connect project, which allows you to search and view the active listings and recent sales history of the REALTORS® Association of Hamilton-Burlington, the London and St. Thomas Association of REALTORS® and the Ottawa Real Estate Board, is poised to expand. Six other Boards have paid initiation fees to participate, and are in the process of developing templates to allow them to connect. It’s also important to note that five additional Real Estate Boards and Associations are included through the four founding groups. The Brampton Real Estate Board, the Durham Region Association of REALTORS®, The Mississauga Real Estate Board and Orangeville and District Real Estate Board are included through TREB and the Renfrew County Real Estate Board is included through the Ottawa Real Estate Board.
This initiative is an excellent example of the spirit of cooperation on which our profession was founded. There is though, much more that we can achieve by working together. Government Relations efforts for example, are well underway to coincide with this fall’s municipal election and I am happy to report that a Mayoral Candidate Debate will take place at this year’s REALTOR® Quest conference, May 5th and 6th at the Toronto Congress Centre. This debate is among the many highlights of this year’s conference: another expansive tradeshow, a wide selection of Continuing Education seminars and a full slate of entertainment attractions are also planned. Be sure to stay tuned for further details.
In the months leading up to the municipal election I also encourage you to help shape the future of the Greater Toronto Area by sharing your views on a daily basis through a special Op Ed section of the Toronto Star. Given that few other professions are as familiar with GTA communities, it’s important to ensure that the REALTOR® perspective on our city’s future is heard. To take advantage of this opportunity please visit http://www.thestar.com/opinion/editorials/article/775190--a-civic-call-to-action.
I also look forward to receiving your comments, questions and suggestions in the coming weeks as activity in our profession becomes even more dynamic. Please feel free to write to me anytime at trebpres@trebnet.com.
Tom Lebour
President
You’re probably aware that last month the Commissioner of Competition filed a Notice of Application against CREA seeking to strike down certain CREA rules. One week prior to the Notice of Application, CREA advised the Commissioner of Competition and the Competition Bureau of its intention to move forward with rule changes to address the issues raised by the Bureau. Delegates from real estate boards and associations throughout the country, including Members of TREB’s Board of Directors, will vote on the proposed rule changes March 22nd.
If you’re interested in learning more about the proposed rule changes, a video message delivered by CREA’s external Competition Law counsel Katherine Kay, is posted on TorontoMLS. Further information on this issue is available under a tab called ‘Competition Bureau Information Zone’ on REALTORLink, which can be accessed directly from the TorontoMLS homepage. It includes CREA Dispatch 2010-03, which also outlines the proposed rule changes, on pages four and five of the document. Stay tuned to REALTORlink for an update as to the outcome of next week’s discussions.
Revisions to CREA’s television advertising campaign are also underway. Scheduled to be introduced April 5th, the campaign has been re-geared to reflect a more serious tone, focusing on the professional services that REALTORS® offer. TREB’s Board of Directors will soon be considering the development of a new advertising campaign as well, potentially focused on Buyer representation.
You may recall that last September I told you about the formation of a Buyers’ Services Task Force. The work of this group is progressing well, with a number of recommendations soon to be considered. This year’s new focus on Buyers’ Services extends beyond the Task Force as well.
Recently for example, a TREB-designed interface to facilitate Internet Data Exchange (IDX) was introduced. To date, more than 100 brokerages have taken advantage of this opportunity to advertise their listings on each other’s websites through reciprocal agreements.
The Connect project, which allows you to search and view the active listings and recent sales history of the REALTORS® Association of Hamilton-Burlington, the London and St. Thomas Association of REALTORS® and the Ottawa Real Estate Board, is poised to expand. Six other Boards have paid initiation fees to participate, and are in the process of developing templates to allow them to connect. It’s also important to note that five additional Real Estate Boards and Associations are included through the four founding groups. The Brampton Real Estate Board, the Durham Region Association of REALTORS®, The Mississauga Real Estate Board and Orangeville and District Real Estate Board are included through TREB and the Renfrew County Real Estate Board is included through the Ottawa Real Estate Board.
This initiative is an excellent example of the spirit of cooperation on which our profession was founded. There is though, much more that we can achieve by working together. Government Relations efforts for example, are well underway to coincide with this fall’s municipal election and I am happy to report that a Mayoral Candidate Debate will take place at this year’s REALTOR® Quest conference, May 5th and 6th at the Toronto Congress Centre. This debate is among the many highlights of this year’s conference: another expansive tradeshow, a wide selection of Continuing Education seminars and a full slate of entertainment attractions are also planned. Be sure to stay tuned for further details.
In the months leading up to the municipal election I also encourage you to help shape the future of the Greater Toronto Area by sharing your views on a daily basis through a special Op Ed section of the Toronto Star. Given that few other professions are as familiar with GTA communities, it’s important to ensure that the REALTOR® perspective on our city’s future is heard. To take advantage of this opportunity please visit http://www.thestar.com/opinion/editorials/article/775190--a-civic-call-to-action.
I also look forward to receiving your comments, questions and suggestions in the coming weeks as activity in our profession becomes even more dynamic. Please feel free to write to me anytime at trebpres@trebnet.com.
Tom Lebour
President
GTA REALTORS® REPORTING MARCH MID-MONTH HOUSING STATISTICS
TORONTO, MARCH 17, 2010 - Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing Service® (MLS®) during the first two weeks of March. This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession. The mid-month sales total was also 16 per cent higher than the previous March midmonth high reached in 2006. “The spring-like weather in the first half of March brought the first green sprouts of the recuring spring market. Every year, monthly sales climb steadily through May,” said Toronto Real Estate Board President Tom Lebour. "People are buying homes because they are confident in the current economic recovery and mortgage payments on the average priced home remain affordable."
The average price for March mid-month transactions was $440,153 – a 20 per cent increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34 per cent to 8,540.
"Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in less upward pressure on home prices.”
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
The average price for March mid-month transactions was $440,153 – a 20 per cent increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34 per cent to 8,540.
"Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in less upward pressure on home prices.”
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
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