RE/MAX has just published their latest spotlight on luxury homes for 2018. In Toronto, Single-detached homes sales in the $1.2M range declined 35%, while condo sales increased 2.3%!
Residential Transaction Volume Up
While heavily weighted by the core of Toronto, the Toronto Real Estate Board reported this week that August transactions were up year-over-year.
There were 6,839 sales in August 2018 - up 8.5% versus 2017. Seasonally-adjusted volume puts sales up 2% versus July 2018.
TREB Statistics - August 2018 Sales Volume
With increased stability around the GTA, we expect to see volume increasing in the ‘905’ areas, including the core Unionville, Markham and Richmond Hill areas. September is looking to be a solid month for new listings, and overall sales activity.
Congratulations!
Congratulations to our amazing Clients on another successful transaction this Summer!
41 Glenburn Forest Way - Sold!
Positive News on Home Prices: CMHC expecting prices to rise
Global News reports today:
Home Prices in Ontario expected to increase moderately: CMHC
OTTAWA — A report by Canada Mortgage and Housing Corp. says a recent drop in Ontario home prices isn’t expected to persist.
It says moderate economic growth in the Greater Toronto Area and Ontario generally will provide support for provincial real estate prices in 2018 and 2019.
CMHC expects inflation-adjusted home prices in the province will remain relatively stable and close to the levels of last year’s fourth quarter.
It anticipates prospective buyers will face fewer bidding wars and feel less urgency to act, allowing them time for more informed decision making.
On the flip side, CMHC says home owners may see their properties on the market longer than usual.
From Canada Mortgage and Housing Corporation:
“The current Ontario price correction fails to fully resemble historical price bust periods. Home prices are plateauing and are expected to grow along a more sustainable linear path supported by continued economic growth, moderate increases in interest rates and only modest increases in new housing supply.” - Ted Tsiakopoulos, Ontario Regional Economist
Download CMHC Housing Market Insight for June 2018 (PDF)
Benjamin Moore's Colors for 2018
We are moving into that busy time of year, when many homeowners take on all those to-do's and upgrade projects around their homes. Before you dive into your reno and painting projects, take a look at Benjamin Moore's new color picks for 2018.
We've always relied on some of Benjamin Moore's most trusted colors - that famed CC40, Cloud White - and it's always interesting to see where the interior and exterior design trends are heading.
Spring is here!
Welcome back Spring! Warmer weather is finally coming back, and we expect to continue to see activity increasing in the marketplace. Historically, April-May has always been 'the peak' for new listings hitting MLS, followed closely by mid-September.
We have some great new listings currently on the market - a wonderful home situated in the midst of Historical Unionville Village. An excellent opportunity to build-on to this cozy home, with it's amazing location and large lot, it's a builders dream.
If you are in the market for a larger, luxury home, with the benefit of a condo, 41 Glenburn Forest Way could be for you. This home features over 4600 sq.ft. of finished space, and is lock-and-leave ready - no yard maintenance to worry about!
41 Glenburn Forest Way $1,695,000
Lots more coming soon!
Real Estate is picking up steam in Markham
Keep watching for some great new Listings that are Coming Soon to MLS, including:
🏡 4 Bedroom Family Home backing to Parkland in Markham
🏢 2 Bedroom Condominium with amazing views in Markham
🏠 4 Bedroom Home in the Heart of Markham Village
🏚️ Heritage Home on Prime building lot in Unionville
Wondering what's happening in your neighbourhood? Give us a call or PM and let's chat about Real Estate!