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NEWS OCTOBER 2013
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  TORONTO, October 3, 2013 Greater Toronto Area (GTA) REALTORS® reported 7,411 residential transactions through the TorontoMLS system in September 2013. This represented a 30% increase compared to sales in August 2012.
“It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable. This is why the third quarter was characterized by renewed growth in home sales in the GTA. We expect to see sales up for the remainder of 2013, as the pent-up demand that resulted from stricter mortgage lending guidelines continues to be satisfied” said Toronto Real Estate Board President Dianne Usher.
The
average selling price for September 2013 was $533,797 – up by almost 6.5% compared to August 2012.
     
  Best Neighbourhood in Toronto
Toronto Life presents the ultimate ranking of the city’s neighbourhoods. We examined 10 factors for each, assigning them a score out of 100: housing (which considers year-over-year appreciation and the ratio of average price to household income), crime, transit, shopping, health and environment, entertainment, community engagement (which factors in voter turnout and beautification projects), diversity, schools and employment.
Here some of results:
TOP OVERALL - Rosedale-Moore Park;
TRANSIT - Church-Yonge Corridor;
COMMUNITY ENGAGEMENT - Waterfront Communities;
EMPLOYMENT - Yonge-Eglinton.
Click here to see report

 

 
  Tips for condo buyers - new or resale...

It takes 3.85 years for the average Toronto condo to move from the initial sales stage to occupancy, and in this supply-heavy climate, pre-construction units might take even longer to complete as developers fall short on cash. On the bright side, that lag provides lots of time for patient buyers to save up for the unit of their dreams. Buying new also means lower maintenance fees, since the units and shared spaces haven’t been subjected to wear and tear.
A new condo does have its downsides, though. The average Toronto unit has shrunk 65 square feet to 750 square feet in the last four years. If you don’t mind a few fusty ferns in the lobby, it’s worth looking at resale buildings in established neighbourhoods.
During the condo boom, there was money to be made selling units that had appreciated before the physical property even existed. Today, that’s rare. Most builders require that a certain sales threshold be met before buyers can sell. They also might make the seller pay back the HST rebate they qualified for as an owner-occupant, or pay the legal cost of transferring documents to a new owner. .