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Norseman Heights Real Estate Newsletter
JoAnne Gludish
Report
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Message from JoAnne Gludish...
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Norseman
Heights
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A total of 12,870 resale transactions were recorded in the Toronto Real Estate Board’s MLS® System in May,
up by an eye-catching 10.6% versus the 11,640 units sold in May 2015, and establishing a new record
Should
Canada
foreign
homebuyers?
high
for the
monthlimit
of May.
For the
second consecutive month, condo apartments experienced the
strongest
annualmount
growthover
rate the
(+21.9%)
followedofbyhomes
detached
homes (+11.8%)
and townhomes
As concerns
affordability
in Canada’s
major markets,
many (+2.0%).
Also
for the
month,tosemi-detached
homehouse
sales prices
declined
(-4.8%) and
on an annual
believe
thatsecond
foreignconsecutive
buyers are largely
blame for inflating
in Toronto
basis.
Despitewith
record
volumeinto
continues
to be held
back by
anit’s
extreme
Vancouver
theoverall
effectssales,
spreading
neighbouring
suburbs.
But
unclearlack
as of
to both new
Should Canada limit foreign homebuyers?
listings
(-6.4%homes
versus May
andbeen
total active
listings
May 2015) in the marketplace. This
how many
have2015)
actually
purchased
by(-30.4%
foreignversus
buyers.
Asinventory
concernsshortage
mount over
the aff
ordability
of loss
homes
in Canada’s
major markets,
many
chronic
has clearly
resulted
in the
of numerous
additional
transactions
as many
While the Liberal government has committed funds for Statistics Canada to monitor
believe
that
foreign
buyers
aretolargely
blame
infltheir
atingneeds.
house prices in Toronto and
potential
buyers
were
simply
unable
find a to
home
thatformet
foreign homeownership this year, some have already called for restrictions to be placed.
Vancouver with the effects spreading into neighbouring suburbs. But it’s unclear as to
But Trudeau said that limiting foreign ownership could be a double-edged sword and
how many homes have actually
been
purchased
by foreign buyers.
GTA
Resale
Home
“devalue the equity a lot of people
have
in their
homes,Sales
” according to a Global News
14,000
While
theMay
Liberal
has committed
funds for Statistics
Canada
to monitor
report
from
2016.government
Trudeau stated
that more information
was needed
about
the 2016
2014
2015
foreign
homeownership
this
year,
some
have
already
called
for
restrictions
to
be placed.
12,000
impact of foreign ownership before any decisions are made.
But Trudeau said that limiting foreign ownership could be a double-edged sword and
10,000
“devalue the equity a lot of people have in their homes,” according to a Global News
8,000 from May 2016. Trudeau stated that more information was needed about the
report
impact
6,000 of foreign ownership before any decisions are made.
Isling
STRONG
SALES GROWTH
Your
Norseman
Heights CONTINUES
REALTOR®!
Nors
ay
ensw
Que
The
STRONG SALES GROWTH CONTINUES
[ see page 2 for details ]
STRONG SALES GROWTH CONTINUES
Norseman Heights Market Watch
Latest 6 Month Recap of Solds - Dec 1, 2015 - May 31, 2016
# sold
average price
low price
high price
days on
market
1.5 to 3 storey detached
4
2 bedroom
10
3 bedroom
3
4 bedroom
724,542
919,908
1,275,000
650,166
625,000
975,000
828,000
1,560,000
1,475,000
23
14
48
split-level
3 bedroom
4 bedroom
1
1
777,000
1,080,000
777,000
1,080,000
777,000
1,080,000
132
5
Office: 416-231-3000
Direct: 416-817-3747
bungalow
2 bedroom
3 bedroom
5
12
jgludish@trebnet.com
www.joannegludish.com
763,000
859,657
660,000
680,000
816,000
1,000,000
7
9
townhouses
3 bedroom
1
680,000
680,000
680,000
43
4,000
2,000
JAN
MAR
MAY
JUL
SEP
NOV
www.NorsemanHeights.info for the rest of your newsletter...
Once again, the lack of available inventory combined with the strong sales pace continued to translate
into sizzling price growth. The average selling price in May was $751,908 - up by a whopping 15.7%
versus the $649,648 average price in May 2015. All four key
market
segments witnessed strong
sales
representative
annual price gains, as per the following: detached homes (+18.9%), semi-detached homes (+11.8%),
townhomes (+15.8%) and condo apartments (+5.9%). May also witnessed a 15% increase in the MLS®
Home Price Index (HPI) Composite Benchmark Price versus last year. This index factors out sales mix
changes of the various housing types and is therefore the best indicator of the true rise in prices. Finally,
strong demand coupled with low inventory also translated into a “lightning fast” sales experience
(average days on market fell to just 15 days versus 18 days in May 2015).
JoAnne Gludish
$800,000
$750,000
GTA Average Resale Price
2014
Top 1% in Canada by sales volume
2007-2015 for Royal LePage
2015
2016
37
JoAnne Gludish sales representative
$650,000
$600,000
Real Estate Services Ltd., Brokerage
Royal LePage
$550,000
Real
Estate Services., Brokerage
3031 Bloor St. W., Toronto, ON M8X 1C5
$500,000
Not intended to solicit buyers or sellers currently under contract with a brokerage. Statistics courtesy of the Toronto Real Estate
Board.
Property values depend on factors besides housing type and number of bedrooms. Square footage, overall condition,
$450,000
upgrades, lot size and specific
location are some of MAR
the other key factors involved.
Copyright © 2016 JUL
Mission Response Inc.
JAN
MAY
www.missionresponse.com 416-236-0543 All Rights Reserved. T1646 02
www.NorsemanHeights.info
19
For detailed Norseman Heights statistics: www.NorsemanHeights.info
$700,000
page 4
Total
SEP
NOV
July 2016
July 2016
Real Estate Services Ltd., Brokerage
Office: 416-231-3000
Direct: 416-817-3747
jgludish@trebnet.com
page 1
www.NorsemanHeights.info
July 2016
July 2016
STRONG SALES GROWTH CONTINUES
A total of 12,870 resale transactions were recorded in the Toronto Real Estate Board’s MLS® System in May,
up by an eye-catching 10.6% versus the 11,640 units sold in May 2015, and establishing a new record
high for the month of May. For the second consecutive month, condo apartments experienced the
strongest annual growth rate (+21.9%) followed by detached homes (+11.8%) and townhomes (+2.0%).
Also for the second consecutive month, semi-detached home sales declined (-4.8%) on an annual
basis. Despite record overall sales, volume continues to be held back by an extreme lack of both new
listings (-6.4% versus May 2015) and total active listings (-30.4% versus May 2015) in the marketplace. This
chronic inventory shortage has clearly resulted in the loss of numerous additional transactions as many
potential buyers were simply unable to find a home that met their needs.
GTA Resale Home Sales
14,000
2014
12,000
2015
Richview School District!
Royal York Gardens!
This 3 + 1 bedroom 2.5 bath home features a
sunken dining room with walk-out to backyard,
updated eat-in kitchen, 2 fireplaces and master
bedroom with 3-piece ensuite! Side entrance
path converts into wheel-chair ramp! Close to
transit, shops and more!
43 Shortland Crescent - $949,900
3 + 1 bedroom 3 bath, 4 level side-split offers a
functional floorplan! Eat-in kitchen overlooking
backyard! Lower level family room with walkout to interlock patio/backyard! Basement
recreation room with fireplace and office/4th
bedroom! Close to all amenities!
Coming Soon!
2016
10,000
8,000
6,000
4,000
2,000
JAN
MAR
MAY
JUL
SEP
NOV
Once again, the lack of available inventory combined with the strong sales pace continued to translate
into sizzling price growth. The average selling price in May was $751,908 - up by a whopping 15.7%
versus the $649,648 average price in May 2015. All four key market segments witnessed strong
annual price gains, as per the following: detached homes (+18.9%), semi-detached homes (+11.8%),
townhomes (+15.8%) and condo apartments (+5.9%). May also witnessed a 15% increase in the MLS®
Home Price Index (HPI) Composite Benchmark Price versus last year. This index factors out sales mix
changes of the various housing types and is therefore the best indicator of the true rise in prices. Finally,
strong demand coupled with low inventory also translated into a “lightning fast” sales experience
(average days on market fell to just 15 days versus 18 days in May 2015).
Immaculate 5-Level Side Split!
Elegant 2-Storey in Desirable Location!
3 bedroom 4 bath home offers approximately 3,800
sq. ft. of living space, skylights, multiple balconies and
walk-outs, ample storage and potential income suite!
Master bedroom with walk-in closet, ensuite and
balcony! Near transit, parks and more!
Coming Soon!
Inviting 3 + 1 bedroom 4 bath home! Features
eat-in kitchen with walk-out to backyard,
fireplace in family room, 2nd floor walk-out
to large balcony over-looking backyard and
master with ensuite! Access to parks, schools,
transit and more!
Coming Soon!
GTA Average Resale Price
$800,000
2014
$750,000
2015
2016
$700,000
Great Etobicoke Neighbourhood!
Stunning Lake Views!
$650,000
4 bedroom bungalow features eat-in kitchen with
walk-out to side patio, master bedroom with 4-piece
ensuite, mud room, basement walk-out to backyard
and high basement ceilings! Near schools, parks,
community centre, transit, highways and shopping!
Coming Soon!
2 bedroom 2 bath corner unit with panoramic views!
Floor-to-ceiling windows, open-concept living/dining
room, kitchen with breakfast area and walk-out to
balcony! Exceptional building amenities and steps to
beach, boardwalk and more!
Coming Soon!
$600,000
$550,000
$500,000
$450,000
JAN
page 2
MAR
MAY
JUL
SEP
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NOV
July 2016
page 3
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July 2016