Can Toronto Condo Market Support New York Prices?

11 September 2009
Remax-Condos-Plus

A recent report by Prudential Douglas Elliman looked at Manhattan studio (bachelor) prices from 2002-2011. It found that in the Upper East Side, the average size was 478 square feet and the average price was $739 per square foot.


Condo Market Looks Good for All

09 September 2009
Remax-Condos-Plus

August numbers are out from the Toronto Real Estate Board. Sales were just over 8,000 units -27% higher than August '08. For September, we are forecasting 7,500+ units. Compare that to 6400 units in September '08 and 6,900 units in September '07 ( the record sales year on TREB).


Start Comparing Real Estate Market to 2007 and not 2008!

11 August 2009
Remax-Condos-Plus

All year we have been looking at sales statistics in comparison to last year - 2008. With July sales 28% higher than the same month last year, and year-to date- sales almost dead even, it is a certainty that this year's sales will outperform 2008 by year end. Last year the market started to collapse by the end of September and the signs were already telling by that time. We had 26,000 active listings and we added 15,000 new listings that July.


What does VIX Index have to do with Condo Sales?

21 July 2009
Remax-Condos-Plus

The answer is nothing! The stock market has become a game and has little to do with investing in public companies anymore. Instead of buying/investing, you can 'short', buy derivatives, and just about any index


Immigrants Drive GTA and Condo Sales

15 July 2009
Remax-Condos-Plus

A recent study by Scotiabank says that new immigrants will be an important driver of the housing industry, particularly in cities such as Toronto. The study was based on information from the MOST RECENT CENSUS in 2006 which is just now getting released! And it is now appearing in newspapers.


When will this Condo Market Slow Down?

11 June 2009
Remax-Condos-Plus

June will be a record month for sales this year. Multiple Offers on just about every single listing under $400,000 is the norm! When will it slow down?


Condo Market is Strong but is this the 'False Up'?

03 June 2009
Remax-Condos-Plus

As condo sales start to accelerate, doubters can no longer deny that the market is crashing. Instead the doom and gloomers are now calling this just a 'false up'. In other words, they want you to believe that this is just a temporary recovery before the market heads down again. What do they use to prove their point of view? Just that there is a world wide economic recession and the fact that it is time for real estate to decline after an eight year run.


New Condo Market Showing Life

20 May 2009
Remax-Condos-Plus

The First Quarter of the year was nothing less than a disaster for new condo sales in Toronto. But this past week, our Company is suddenly doing sales for our clients with developers again. And on one development, Realtors actually lined up like the old days!


US Home Sales Improving

28 May 2008
Remax-Condos-Plus

While our primary focus has been on the Toronto market, and particularly condo sales, the U.S. market is also starting to improve as well. The National Association of Realtors in the U.S. reported that new sales (pending) increased 3.2% in March over February (less seasonality then Canada) and were up 1% over the same month - March of 2008.