RE/MAX professionals Prepares for their celebrations with the Childrens Miracle Network!
The countdown: $999,997
Thursday, May 20, 2010
Economic recovery fuels significant upswing in sales in Canada's recreational property markets, says RE/MAX
79 per cent of markets report upward trending in recreational sales in 2010
Mississauga, ON (May 20, 2010) - Serious year-over-year gains have characterized sales in most major Canadian recreational property markets this year, according to a report released today by RE/MAX.
The 2010 RE/MAX Recreational Property Report, highlighting sales, prices, trends and developments in close to 50 markets from coast-to-coast, found that 79 per cent of recreational areas reported an upswing in the number of properties sold during the first three months of the year. Starting prices for recreational product were also on the move, with 43 per cent posting a nominal increase. Inventory levels, with the exception of the coveted entry-level price point, were healthy and balanced market conditions prevailed in most areas.
"While sales have been strong out of the gate, the number of waterfront cottages, condominiums, and back lot properties sold in the first quarter still fall short of pre-recession levels," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "However, with peak season fast approaching, stimuli such as softer values, greater selection, and relatively low interest rates may prove difficult for recreational property buyers to resist."
Mississauga, ON (May 20, 2010) - Serious year-over-year gains have characterized sales in most major Canadian recreational property markets this year, according to a report released today by RE/MAX.
The 2010 RE/MAX Recreational Property Report, highlighting sales, prices, trends and developments in close to 50 markets from coast-to-coast, found that 79 per cent of recreational areas reported an upswing in the number of properties sold during the first three months of the year. Starting prices for recreational product were also on the move, with 43 per cent posting a nominal increase. Inventory levels, with the exception of the coveted entry-level price point, were healthy and balanced market conditions prevailed in most areas.
"While sales have been strong out of the gate, the number of waterfront cottages, condominiums, and back lot properties sold in the first quarter still fall short of pre-recession levels," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "However, with peak season fast approaching, stimuli such as softer values, greater selection, and relatively low interest rates may prove difficult for recreational property buyers to resist."
Monday, May 17, 2010
Canada's hot resale housing market starting to cool
OTTAWA - May 17th, 2010 - Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA).
Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than one per cent short of the record for national sales activity during the month of April, which was set in 2007. Compared to April 2009, national activity was up 20 per cent.
Seasonally adjusted national home sales activity slipped 2.6 per cent from the previous month, and now stands 6.8 per cent below the peak reached in December 2009. More than half of the decline in activity over the first four months of 2010 from in British Columbia, while activity in Ontario and Quebec remains at or near record levels.
"The easing trend in national sales activity masks a rising trend in a number of major markets," said CREA President Georges Pahud. "Real estate is local, so buyers and sellers should engage the services of a REALTOR® for knowledge about housing market trends in their market."
Some 99,901 homes were newly listed for sale on Canadian MLS® Systems in April 2010, surpassing the previous record for the month of April set in 2008 by six-tenths of one per cent. A total of 236,397 residential properties were listed for sale on Boards’ MLS® Systems at the end of April 2010, down 1.9 per cent from levels one year earlier.
As for the national average price of homes sold via Canadian MLS® Systems, that figure rose 12.2 per cent over this time last year. This is a smaller increase compared to those recorded over the past eight months. Bucking the national trend, price gains continue to increase in a number of major markets in Alberta, Ontario and Quebec.
With last year’s string of downwardly skewed average price values having now mostly passed, and with activity in British Columbia’s lower mainland having settled down, year-over-year national average price comparisons are coming back into line with changes in the national weighted average price.
The weighted average price compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. It climbed 11.3 per cent on a year-over-year basis in April 2010. Similarly, the residential average price in Canada’s major markets climbed 12.9 per cent year-over-year in April, while the weighted major market average price rose 12.1 per cent.
The actual (not seasonally adjusted) number of months of inventory stood at 4.5 months in April 2010. This is down from levels one year ago (5.6 months) and April 2008 (4.7 months), but up compared to April levels from 2004 through 2007. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
On a seasonally adjusted basis, months of inventory stood at 5.3 months in April, the highest level since last May.
"Next month will mark the passage of one year since the national average price rebounded from the recessionary trough to return to the pre-recession peak, so the rise in the national average price is expected to be more subdued next month, " said CREA Chief Economist Gregory Klump. "The national average price could potentially be skewed higher over the next couple of months if buyers of higher priced homes in Ontario and British Columbia move their purchase decision forward to beat the introduction of the HST in July." PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. The Canadian Real Estate Association has previously released these separately.
CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 98,000 REALTORS® working through more than 100 real estate Boards and Associations. Further information can be found at http://www.crea.ca/.
For more information, please contact:
Alyson Fair, Publicist
613-237-7111 or 613-884-1460
Email: afair@crea.ca
Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than one per cent short of the record for national sales activity during the month of April, which was set in 2007. Compared to April 2009, national activity was up 20 per cent.
Seasonally adjusted national home sales activity slipped 2.6 per cent from the previous month, and now stands 6.8 per cent below the peak reached in December 2009. More than half of the decline in activity over the first four months of 2010 from in British Columbia, while activity in Ontario and Quebec remains at or near record levels.
"The easing trend in national sales activity masks a rising trend in a number of major markets," said CREA President Georges Pahud. "Real estate is local, so buyers and sellers should engage the services of a REALTOR® for knowledge about housing market trends in their market."
Some 99,901 homes were newly listed for sale on Canadian MLS® Systems in April 2010, surpassing the previous record for the month of April set in 2008 by six-tenths of one per cent. A total of 236,397 residential properties were listed for sale on Boards’ MLS® Systems at the end of April 2010, down 1.9 per cent from levels one year earlier.
As for the national average price of homes sold via Canadian MLS® Systems, that figure rose 12.2 per cent over this time last year. This is a smaller increase compared to those recorded over the past eight months. Bucking the national trend, price gains continue to increase in a number of major markets in Alberta, Ontario and Quebec.
With last year’s string of downwardly skewed average price values having now mostly passed, and with activity in British Columbia’s lower mainland having settled down, year-over-year national average price comparisons are coming back into line with changes in the national weighted average price.
The weighted average price compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. It climbed 11.3 per cent on a year-over-year basis in April 2010. Similarly, the residential average price in Canada’s major markets climbed 12.9 per cent year-over-year in April, while the weighted major market average price rose 12.1 per cent.
The actual (not seasonally adjusted) number of months of inventory stood at 4.5 months in April 2010. This is down from levels one year ago (5.6 months) and April 2008 (4.7 months), but up compared to April levels from 2004 through 2007. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
On a seasonally adjusted basis, months of inventory stood at 5.3 months in April, the highest level since last May.
"Next month will mark the passage of one year since the national average price rebounded from the recessionary trough to return to the pre-recession peak, so the rise in the national average price is expected to be more subdued next month, " said CREA Chief Economist Gregory Klump. "The national average price could potentially be skewed higher over the next couple of months if buyers of higher priced homes in Ontario and British Columbia move their purchase decision forward to beat the introduction of the HST in July." PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. The Canadian Real Estate Association has previously released these separately.
CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 98,000 REALTORS® working through more than 100 real estate Boards and Associations. Further information can be found at http://www.crea.ca/.
For more information, please contact:
Alyson Fair, Publicist
613-237-7111 or 613-884-1460
Email: afair@crea.ca
Tuesday, May 11, 2010
Real Trends 200 Largest Canadian Brokerages 2009
Prepared by Darryl Mitchell, Managing Broker, RE/MAX Professionals Inc. Brokerage
Congratulations to RE/MAX Professionals Inc. and their staff for ranking in the Top 20 Largest Brokerages in Canada for Closed Sales Volume in 2009. This prestigious ranking was published this month in REAL TRENDS magazine.
Not often do real estate companies get rated by independent sources, but REAL TRENDS magazine did just that in its most recent addition. REAL TRENDS, a well known American publication that publishes current news and views on real estate in the United States, crossed the Northern border for the first time as it estimated the relative success of Canada’s Top 200 Real Estate Brokerages.
REAL TRENDS U.S. numbers have been distributed for years. This year’s publication which rated the Brokerages across Canada by number of transactions and closed dollar sales volume is a first. This is the first time that an independent group has published a recognizable and coordinated resource for real estate companies and the public at large to compare which real estate brokerages are leaders in their distinctive communities.
In a separate twist, this report which also states the number of offices and agents registered to each company, allows the companies and Brands to be compared by effectiveness. From the 20 top sales dollar value companies, for instance, 12 or 60% are from RE/MAX, 5 or 25% are from Royal LePage, two are independents, and one is from Prudential Real Estate. This should not be too surprising as the overall national market share follows a similar trend with RE/MAX the dominant leader with over 35% National Market Share.
For RE/MAX PROFESSIONALS INC. the statistics show a remarkable story of success. Not only is RE/MAX Professionals 20th of the list of 200, but it achieved this with 270 agents in 3 offices far lower than many of the competitive companies in its area. As for the ranking by units sold in 2009, RE/MAX Professionals placed 37th of the 200 companies surveyed across Canada.
On a more local note, RE/MAX Professionals ranked 7th of the Greater Toronto Area participants and was one of five RE/MAX sister brokerages in the Top 20 by Closed Dollar Volume. Two Royal LePage brokerages also made this prestigious list of seven GTA companies. Again, overall market share in the GTA region supports this trend as RE/MAX hold the number one market share in all the GTA communities from plus 31% in Toronto to plus 35% in Mississauga.
Congratulations to all of the successful real estate brokerages and their dedicated Realtors!
Congratulations to RE/MAX Professionals Inc. and their staff for ranking in the Top 20 Largest Brokerages in Canada for Closed Sales Volume in 2009. This prestigious ranking was published this month in REAL TRENDS magazine.
Not often do real estate companies get rated by independent sources, but REAL TRENDS magazine did just that in its most recent addition. REAL TRENDS, a well known American publication that publishes current news and views on real estate in the United States, crossed the Northern border for the first time as it estimated the relative success of Canada’s Top 200 Real Estate Brokerages.
REAL TRENDS U.S. numbers have been distributed for years. This year’s publication which rated the Brokerages across Canada by number of transactions and closed dollar sales volume is a first. This is the first time that an independent group has published a recognizable and coordinated resource for real estate companies and the public at large to compare which real estate brokerages are leaders in their distinctive communities.
In a separate twist, this report which also states the number of offices and agents registered to each company, allows the companies and Brands to be compared by effectiveness. From the 20 top sales dollar value companies, for instance, 12 or 60% are from RE/MAX, 5 or 25% are from Royal LePage, two are independents, and one is from Prudential Real Estate. This should not be too surprising as the overall national market share follows a similar trend with RE/MAX the dominant leader with over 35% National Market Share.
For RE/MAX PROFESSIONALS INC. the statistics show a remarkable story of success. Not only is RE/MAX Professionals 20th of the list of 200, but it achieved this with 270 agents in 3 offices far lower than many of the competitive companies in its area. As for the ranking by units sold in 2009, RE/MAX Professionals placed 37th of the 200 companies surveyed across Canada.
On a more local note, RE/MAX Professionals ranked 7th of the Greater Toronto Area participants and was one of five RE/MAX sister brokerages in the Top 20 by Closed Dollar Volume. Two Royal LePage brokerages also made this prestigious list of seven GTA companies. Again, overall market share in the GTA region supports this trend as RE/MAX hold the number one market share in all the GTA communities from plus 31% in Toronto to plus 35% in Mississauga.
Congratulations to all of the successful real estate brokerages and their dedicated Realtors!
Tuesday, May 4, 2010
March pending U.S. home sales up 5% from February and 21% from March 2009
May 4, 2010, 10:00 a.m. EDT Market Watch Press Release
U.S. pending home sales rise 5.3% in MarchStory
Comments Screener (16) Alert Email Print ShareBy Ruth Mantell WASHINGTON (MarketWatch) -- Supported by a tax credit, the pending home sales index rose a seasonally adjusted 5.3% in March, and was up 21.1% compared with a year earlier, the National Association of Realtors said Tuesday. In February, the index rose 8.3%, compared with an earlier estimate of an 8.2% gain. For March sales contracts rose 12.7% in the South, 1.9% in the West and 1.2% in the Midwest. Contracts declined 3.3% in the Northeast.
U.S. pending home sales rise 5.3% in MarchStory
Comments Screener (16) Alert Email Print ShareBy Ruth Mantell WASHINGTON (MarketWatch) -- Supported by a tax credit, the pending home sales index rose a seasonally adjusted 5.3% in March, and was up 21.1% compared with a year earlier, the National Association of Realtors said Tuesday. In February, the index rose 8.3%, compared with an earlier estimate of an 8.2% gain. For March sales contracts rose 12.7% in the South, 1.9% in the West and 1.2% in the Midwest. Contracts declined 3.3% in the Northeast.
Monday, May 3, 2010
Further deceleration of home-price rises in February: Teranet – National Bank National Composite House Price Index™
Canadian home prices in February were up 9.9% from a year earlier, according to the Teranet-National Bank National Composite House Price Index™. This acceleration from 12-month rises of 7.5% in January and 5.2% in December is attributable to the deflation that was in progress 12 months earlier. This base effect will continue through the results for April, the anniversary of the index bottom. The composite index has been on the rise since then and is now up 11.7% from the bottom. However, this gain is strongly influenced by Toronto, up 16.2% from April 2009, and Vancouver, up 14.1% from May 2009. In the four other markets surveyed, the rise from the respective troughs is less than 9%.
Month-over-month gains have recently decelerated considerably. The 0.2% February rise in the composite index was the smallest in the 10 months since it began climbing. In two of the six markets surveyed, prices were down from the month before.
The historical data of the Teranet – National Bank House Price Index™ is available at http://www.housepriceindex.ca/.
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given at http://www.housepriceindex.ca/
The Teranet–National Bank House Price Index™ is an independently developed representation of average home price changes in six metropolitan areas: Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax. The national composite index is the weighted average of the six metropolitan areas. The weights are based on aggregate value of dwellings as retrieved from the 2006 Statistics Canada Census. According to that census1, the aggregate value of occupied dwellings in the metropolitan areas covered by the indices was $1.168 trillion, or 53% of the Canadian aggregate value of $2.207 trillion.
All indices have a base value of 100 in June 2005. For example, an index value of 130 means that home prices have increased 30% since June 2005.
By:
Marc Pinsonneault
Senior Economist
Economy and Strategy Group
National Bank Financial Group
Month-over-month gains have recently decelerated considerably. The 0.2% February rise in the composite index was the smallest in the 10 months since it began climbing. In two of the six markets surveyed, prices were down from the month before.
The historical data of the Teranet – National Bank House Price Index™ is available at http://www.housepriceindex.ca/.
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given at http://www.housepriceindex.ca/
The Teranet–National Bank House Price Index™ is an independently developed representation of average home price changes in six metropolitan areas: Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax. The national composite index is the weighted average of the six metropolitan areas. The weights are based on aggregate value of dwellings as retrieved from the 2006 Statistics Canada Census. According to that census1, the aggregate value of occupied dwellings in the metropolitan areas covered by the indices was $1.168 trillion, or 53% of the Canadian aggregate value of $2.207 trillion.
All indices have a base value of 100 in June 2005. For example, an index value of 130 means that home prices have increased 30% since June 2005.
By:
Marc Pinsonneault
Senior Economist
Economy and Strategy Group
National Bank Financial Group
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