GTA Realtors Report Mid-Month Resale Housing Market Figures

All in all, 2010 is set to close out at good levels, according to a recently released report from TREB.

These figures indicate a 19 % decrease compared to the 3,079 sales recorded during the same period in last December. Year-to-date sales amounted to 84,316 – a one % drop from the 2009 total of 84,888.Today, the Greater Toronto REALTORS reported 2,509 sales through the Multiple Listing Service (MLS) during the first two weeks of December 2010.

"While off the 2009 record, the level of December transactions remains strong from a historic perspective. The number of transactions in 2010 will be the third highest on record," said Toronto Real Estate Board President Bill Johnston
Prices have also shown an increase both in the City of Toronto, and in the rest GTA itself, from Dec 2009- with the city of Toronto increasing from $460,828 during the same period in 2009 to $ 470,918. Similarly, the rest of the GTA was at $393,918 in 2009, increasing to $408,118 in 2010.

December mid-month transactions came in at an average price of $435,225 – a three % rise compared to the average of $423,103 tallied during the first 14 days of December 2009.

"Market conditions remain tight enough to support moderate growth in the average selling price. Expect the three per cent annual rate of growth reported for the first two weeks of December to be the norm in 2011," said Jason Mercer, TREB's Senior Manager of Market Analysis.

 Source: propertywire.ca 

New home prices 0.3% higher

Canada's new housing price index rose 0.3 per cent in November after a 0.1 per cent advance in October.

Statistics Canada said prices increased the most in St. John's, N.L. (up 4.2 per cent), followed by Ottawa-Gatineau (1.6) and Halifax (1.2).

In St. John's, prices rose as a result of increased labour costs and higher land development fees, while increases in material and labour costs were the main factors in Ottawa-Gatineau and Halifax.

The largest price declines were recorded in the Ontario cities of Windsor (down 1.8 per cent) and St. Catharines-Niagara (down 1.1), followed by Charlottetown and Victoria (both down 0.4).

The agency says some builders in Windsor and in St. Catharines-Niagara lowered their prices to generate sales while others offered discounts and bonus incentive packages in November.

Year-over-year, the new housing price index was up 2.3 per cent in November after a 2.5 per cent increase in October.

Read more: http://www.cbc.ca/money/story/2011/01/12/new-home-prices-november.html#ixzz1Ari489ze

Flaherty expected to tighten mortgage rules

Federal Finance Minister Jim Flaherty is expected to announce tighter mortgage rules on Monday to combat concerns over high Canadian household debt.

The announcement is set for 8 a.m. ET in Ottawa.

Among the expected changes are the lowering of the maximum number of years the government will back mortgages — from 35 to 30.

Ottawa is also expected to:

• Limit the insurance coverage by Canada Mortgage and Housing Corp. on lines of credit.
• Reduce the upper limit that Canadians can borrow against their home equity to 85 per cent from 90 per cent.

The changes come following recent warnings from the Bank of Canada on household debt levels.

In December, bank governor Mark Carney cautioned Canadian households and businesses not to be lulled by current low interest rates, because repercussions from a hike could be swift.

Last week, Agathe Cote, a deputy governor at the bank, told a Kingston, Ont., audience that a sudden weakening in the Canadian housing sector could affect other areas of the economy given the high debt loads of some households.

If that shock hits, Canadians would be expected to cut back on their spending, she said

Read more: http://www.cbc.ca/money/story/2011/01/17/flaherty-mortgage-changes.html#ixzz1BIUWxgQy

335 Webb Drive 2 bedroom unit for rent

Asking price $1575. 2 bedroom 2 full washrooms. Newly renovated with laminate flooring, granite counter tops, new kitchen cabinets and much more. do not miss it !

Sold in 4 days ! 5050 Intrepid Drive # 29 Great Gulf Homes Townhouses in Mississauga

SOLD IN 4 DAYS !

Just Listed Monarchy Condo for Rent 335 Webb Drive in Mississauga

Monarchy Condos. Right On Sq1 In Mississauga. Specious Newly Renovated 2 Bedroom With Two Full Washrooms Corner Unit. Better Then New.Lots Of Daylight. Kitchen With New Black Appliances, Granite Counter Tops,New Kitchen Cabinets And Double Sink. Laminate Flooring All Through Out.Large Living And Dinning Rooms.Master Bedroom With His/Her Closet And Organizers.On-Suite Bathroom With Shower. Second Bathroom With New Tiling And More.New Electrical Fixtures All Through-Out. Unit Is Rented With Parking And Locker.Monarchy Condos Are Minutes From Major Highways, Grocery Stores. Walking Distance To Sq1 And School.Good Amenities Such As Tennis Court,Sauna,Swimming Pool Etc. Maintenance incudes evrything (even cable TV) but hydro.

For Full Photo Tour Click 335 Webb Drive

Just Listed Condo Townhouse in Mississauga on 5050 Intrepid Drive

289,500

Just Listed. Garden Villa Condo Townhouse.Two Bedroom Upper Level Tivoli Model With Two Balconies.About 1200 S.F Of Living Space.Thousands $$ In Builder Upgrades.Main Level Features Large Living/Dinning Area With Dark Laminate Flooring.Upgraded Kitchen With Island, Breakfest Area,Dark Cabinets,Backsplash And Four Stainless Steel Appliances.Powder Room With Builder Ceramic Upgrades.Custom Blinds And Upgraded Electrical Fixtures Through Out.Upper Level Feature. Two Good Size Bedrooms. Two Full 4Pc Washrooms With Upgraded Tiling In Ensuite.Convenient 2nd Floor Laundry Room.The Garden Villa Complex Is Located Minutes From Hwy. 403,407,Erin Mills Town Centre.There Is Children Playground In Complex.

Fore Additional Photos Click 5050 Intrepid Drive Great Gulf Homes Townhouses