This document summarizes real estate market trends in Newfoundland and Labrador, New Brunswick, Nova Scotia, and Ontario in spring 2012. It reports that residential real estate activity has started strong across most regions, with home sales and average home prices up compared to the previous year. Buyer confidence has increased due to low interest rates and stable or growing local economies. However, housing inventory remains tight in many areas, especially for entry-level homes priced below $250,000. The spring buying season is expected to be busy.
The upper-end real estate market in St. John's remained relatively consistent in the first quarter of 2013 compared to 2012, with luxury home sales bolstered by population growth. While prices have adjusted slightly due to oversupply, properties listed at fair market value are attracting buyers. The luxury housing market is forecast to keep pace with 2012 levels due to stable economic factors.
The document provides an overview of the positive economic signs in Canada over the past year, including increased consumer spending and confidence, an expected boost from the upcoming Olympics, and signs of a strengthening housing market such as record home sales and rising prices. It also summarizes recent mortgage rates, exports, job postings data and expectations for a thaw in salary freezes in 2010, indicating further economic recovery. Local real estate conditions may vary so buyers and sellers are advised to consult their Keller Williams agent for specific market insights.
The document summarizes recent positive economic trends and events in Canada including rising home sales, home prices, and consumer confidence. Mortgage rates remain low while help wanted ads and salaries are expected to rise in 2010. Exports increased in November moving Canada to a trade surplus. The Bank of Canada expects growth forecasts to occur as predicted and will hold interest rates steady.
Welcome to the latest edition of Queensland Market Monitor - a quarterly report presenting suburb-by-suburb residential sales and rental data for the state. This report includes median house and unit price data, rental research and on-the-market statistics – everything you need to know about Queensland real estate, in one report! WITH COMPLIMENTS FROM LJ GILLAND REALESTATE
This document provides an overview of the residential property market in Australia, specifically discussing whether the traditionally strong Spring selling season will see increased activity in 2020 given the COVID-19 pandemic. It includes the following:
- National property market updates on housing and units from Herron Todd White valuers. Many coastal and regional markets are still seeing good demand while city unit markets have weakened.
- Discussion on the Sydney market, noting inner-city family homes have remained price resilient. The $1-2.5M inner-west sector is performing well. More listings are expected in Spring but downward price pressure may increase with more stock.
- Comments from real estate agents that while listing and transaction volumes are down year-
Investment Outlook for Commercial Real Estate June 2015Lewei He
Foreign capital flows into US commercial real estate reached a record high in the first quarter of 2015, surpassing the previous record set in 2007. While job growth has slowed, real estate fundamentals remain healthy overall. Apartment prices and cap rates have continued to rise and compress, though some markets may have peaked in occupancy and rents. Industrial indicators point to moderate expansion in 2015, while trends in online retail will impact demand for warehouses and distribution facilities. Office absorption was lower than completions in the first quarter after being higher in previous years, and certain markets like Houston face rising vacancy risks if oil prices remain low. Retail sales volume was unchanged from a year ago despite challenges from online shopping that are transforming the sector.
The document analyzes the state of the US housing market following the 2008 crisis. It finds that median home prices have fallen 27% and inventory is lower. Housing affordability is high due to low mortgage payments compared to household income. However, home construction is low relative to population growth, and renting has become more expensive than buying. The analysis presents a generally positive outlook for the housing market.
Greater Boston Real Estate Market Data, September 2012Unit Realty Group
This document provides a monthly real estate market report for the Greater Boston area. It summarizes key housing metrics for September 2012, including year-over-year changes. Overall, most indicators showed improvement compared to September 2011, with increases in closed sales, pending sales, and decreases in inventory and months of supply. However, median home prices decreased slightly for single-family homes while rising slightly for condominiums. The report also notes potential threats to the housing market from economic factors like job growth and gas prices that could impact consumer confidence.
The upper-end real estate market in St. John's remained relatively consistent in the first quarter of 2013 compared to 2012, with luxury home sales bolstered by population growth. While prices have adjusted slightly due to oversupply, properties listed at fair market value are attracting buyers. The luxury housing market is forecast to keep pace with 2012 levels due to stable economic factors.
The document provides an overview of the positive economic signs in Canada over the past year, including increased consumer spending and confidence, an expected boost from the upcoming Olympics, and signs of a strengthening housing market such as record home sales and rising prices. It also summarizes recent mortgage rates, exports, job postings data and expectations for a thaw in salary freezes in 2010, indicating further economic recovery. Local real estate conditions may vary so buyers and sellers are advised to consult their Keller Williams agent for specific market insights.
The document summarizes recent positive economic trends and events in Canada including rising home sales, home prices, and consumer confidence. Mortgage rates remain low while help wanted ads and salaries are expected to rise in 2010. Exports increased in November moving Canada to a trade surplus. The Bank of Canada expects growth forecasts to occur as predicted and will hold interest rates steady.
Welcome to the latest edition of Queensland Market Monitor - a quarterly report presenting suburb-by-suburb residential sales and rental data for the state. This report includes median house and unit price data, rental research and on-the-market statistics – everything you need to know about Queensland real estate, in one report! WITH COMPLIMENTS FROM LJ GILLAND REALESTATE
This document provides an overview of the residential property market in Australia, specifically discussing whether the traditionally strong Spring selling season will see increased activity in 2020 given the COVID-19 pandemic. It includes the following:
- National property market updates on housing and units from Herron Todd White valuers. Many coastal and regional markets are still seeing good demand while city unit markets have weakened.
- Discussion on the Sydney market, noting inner-city family homes have remained price resilient. The $1-2.5M inner-west sector is performing well. More listings are expected in Spring but downward price pressure may increase with more stock.
- Comments from real estate agents that while listing and transaction volumes are down year-
Investment Outlook for Commercial Real Estate June 2015Lewei He
Foreign capital flows into US commercial real estate reached a record high in the first quarter of 2015, surpassing the previous record set in 2007. While job growth has slowed, real estate fundamentals remain healthy overall. Apartment prices and cap rates have continued to rise and compress, though some markets may have peaked in occupancy and rents. Industrial indicators point to moderate expansion in 2015, while trends in online retail will impact demand for warehouses and distribution facilities. Office absorption was lower than completions in the first quarter after being higher in previous years, and certain markets like Houston face rising vacancy risks if oil prices remain low. Retail sales volume was unchanged from a year ago despite challenges from online shopping that are transforming the sector.
The document analyzes the state of the US housing market following the 2008 crisis. It finds that median home prices have fallen 27% and inventory is lower. Housing affordability is high due to low mortgage payments compared to household income. However, home construction is low relative to population growth, and renting has become more expensive than buying. The analysis presents a generally positive outlook for the housing market.
Greater Boston Real Estate Market Data, September 2012Unit Realty Group
This document provides a monthly real estate market report for the Greater Boston area. It summarizes key housing metrics for September 2012, including year-over-year changes. Overall, most indicators showed improvement compared to September 2011, with increases in closed sales, pending sales, and decreases in inventory and months of supply. However, median home prices decreased slightly for single-family homes while rising slightly for condominiums. The report also notes potential threats to the housing market from economic factors like job growth and gas prices that could impact consumer confidence.
Remax spring 2016 Housing Trends for CanadaBo Kauffmann
The document is a 2016 spring housing market trends report that provides an overview of real estate markets across Canada. Some of the key points summarized are:
- Vancouver and Toronto housing markets saw significant price increases in the first quarter of 2016, with average home prices rising 24% and 14% respectively. Limited inventory has discouraged sellers.
- Surrounding regions of Vancouver and Toronto have experienced spillover effects as buyers move farther out in search of affordable homes, leading to price increases of 10-14% in some areas.
- Oil-impacted cities like Calgary and Edmonton have seen slowed housing markets due to economic conditions, though infrastructure projects are providing stability.
- Outside of major cities, declining oil
The document summarizes house price trends in Cape Town sub-regions from Q2 2019. It finds that:
1) Prices in affluent areas fell deeper into deflation, and this pressure is now spilling over to middle-priced areas, while lower-priced areas remain resilient with double-digit growth.
2) The overall city growth slowed to 0.5% year-over-year, the slowest since 2009, due to intensifying pressure in affluent areas now impacting middle areas.
3) While the market remains lackluster, some indicators show signs of resilience as buyers take advantage of better prices, with first-time buyer activity rebounding.
REMAX Winnipeg Real Estate Market Trend for Spring 2016Bo Kauffmann
- The Winnipeg housing market shifted to a balanced market in early 2016 due to an increase in new inventory. Home sales increased from 2,069 to 2,216 year-over-year while the average sale price rose 10% to $300,011.
- Low interest rates are driving demand from first-time and move-up buyers. A new 20,000-unit housing project is expected to further boost the market in coming years.
BC Real Estate Association: GVHBA Trends 2010 presentationGVHBA
This is a copy of Cameron Muir, chief economist, BC Real Estate Association, presentation at GVHBA's Trends 2010 seminar on December 8, 2009. Please note all information shared in this presentation is the property of BCREA and usage of the information requires crediting BCREA as the information source.
Most locations throughout our nation have smoking hot markets, cold-fish investment and just about every type of property in between. This month the team are providing detail on which parts of their markets are outperforming all others. In addition they’re sharing the knowledge........
Canada's national housing market appears steady with modestly cooling sales and price increases, though conditions vary significantly locally. Vancouver home sales have tumbled 40% since February due to severe unaffordability and new taxes, and prices may face further declines. Meanwhile, the Toronto area continues setting sales records and accelerating price gains due to strong demand and tight supply. Calgary sales are stabilizing at lower levels with modest price declines as ample supply offsets better affordability.
May Phoenix East Valley Real Estate Market ReportLen Nevin
The real estate market in Phoenix in May 2014 was weighted towards buyers but less so than in March. Housing demand remained weak while supply was normal. Overall home sales were down 12% from the previous year but normal MLS sales saw a 3.6% increase. Active listings were up significantly year-over-year at 69.3% but down slightly from the previous month. The market was improving slightly for sellers as demand increased faster than supply but sales volumes remained low overall.
Autumn Buyers Guide
Do your property buying research without having to spend your whole weekend searching the web. This reference guide for home buyers and investors from ING Direct will quickly bring you up to speed on house and unit prices and suburb affordability across Australia.
Confidence spreads throughout regional Queensland - check out all the latest trends and data for all the property markets across Queensland.
Brought to you by the REIQ and National Property Buyers.
http://www.nationalpropertybuyers.com.au
February Phoenix East Valley Real Estate Market ReportLen Nevin
The real estate market in Phoenix is shifting towards a buyer's market. Active listings have risen 45.9% from the previous year, while pending listings and monthly sales have declined sharply. If current trends continue, sellers will face more concessions and lower prices by the end of 2014 due to increased supply and decreased demand. The report provides detailed statistics on housing market trends in specific Phoenix metropolitan areas.
The document summarizes housing market conditions across various regions in Queensland, Australia for the September 2015 quarter. Some key points:
- The Brisbane housing market continued steady growth, with the median house price reaching a new high of $615,000 and sales activity up 5%.
- Housing markets in the tourism centers showed improvement, with the Gold Coast recording the highest quarterly increase in median house price. Cairns also saw increases.
- Regional centers like Mackay and Rockhampton remained weak, though Gladstone and Toowoomba showed some signs of stabilization or recovery.
- Unit markets generally followed house market trends, with some variation in specific locations.
- Housing prices in Vancouver and Toronto have continued rising unexpectedly in 2016, defying expectations of a soft landing.
- Vancouver's housing market is expected to experience a modest price correction of around 10% by mid-2017 due to new foreign buyer taxes and high unaffordability.
- Toronto's housing market is projected to continue accelerating in the near term due to limited supply response and potential increased foreign investment switching from Vancouver.
Apartment approvals plunged by nearly 40% in January (the weakest monthly result in 5 years) comes to the news that first home buyers are making a comeback
The document summarizes property market conditions across various Australian regions in October 2016. It finds that in Sydney, the $2-3 million price bracket for houses and $1.5-3 million for apartments is in high demand, while the off-the-plan apartment market is struggling. In Canberra and the Illawarra region, the entry-level housing market is most active. The prestige markets in Sydney and Canberra have limited supply but strong demand.
Queensland's residential property markets largely continued trends established in late 2014. Areas that had seen consistent improvements continued solid results, while previously struggling areas are now stabilizing. Major infrastructure projects have provided economic stimulation and supported recovery across regions. The Gold Coast, Sunshine Coast, and Cairns recorded continued solid results, while investor activity increased statewide but not as strongly in some regions as anticipated. Affordable house prices and low interest rates have helped first home buyers in regional centers.
Welcome to the latest edition of Queensland Market Monitor - a quarterly, electronic publication entirely focused on residential sales and rental research data on a suburb-by-suburb basis throughout Queensland, plus on the market statistics.
The Brisbane housing market reached a new high median price of $615,000 and defied predictions of slowing, helped by investment from southern Australia. Regional centers that relied on mining are stabilizing with economic diversification efforts underway. The tourism centers of Gold Coast, Cairns, and Toowoomba showed significant improvement in house sales markets over the quarter.
According to a variety of reported opinions, it’s Brisbane’s time to shine. The city has seen a stop- start-stagnate property market for close to a decade, with myriad factors (floods, unit oversupply, high unemployment, global pandemic) keeping our values
The document provides a quarterly market update for regional Australian markets in June 2016. It summarizes housing market performance for 11 different regions, finding that Illawarra recorded the largest annual increase in house and unit values. Transaction activity declined across most regions analyzed with the exception of Richmond-Tweed. Rental rates increased in some regions but yields declined, and home values increased in most major lifestyle markets but were flat or declining elsewhere.
A burden of foreclosures forced many people to move out of their homes and into apartment leases. On the other side, construction of apartments was uphold until the last few years because many builders couldn't get loans during the credit crisis.In certain places, this led to lease and a rise in rents.
This report provides a summary of global real estate market trends in the second quarter of 2013. The key points are:
1) Real home prices strengthened year-over-year in most countries surveyed, led by gains in the US and UK as monetary policy easing supports demand.
2) Canadian housing activity remains buoyant due to low interest rates, but fundamentals are becoming less favorable as job growth slows. Condo overbuilding is a concern in major cities like Toronto.
3) Several European markets like the UK are showing signs of recovery, while conditions remain weak in southern Europe with high unemployment in countries like Spain and Ireland.
4) Asian property markets are mixed, with strong growth continuing
The document discusses the state of the housing market in California. It notes that while prices rose quickly in 2013, driven by low inventory and investors, the market may be reaching a tipping point. Rising mortgage rates have slowed buyer demand and impacted affordability. However, inventory levels are starting to increase, and investors are playing a smaller role. While interest rates caused pause, the recovery is expected to continue as buyers adjust to new market conditions. The recovery is moving toward a more sustainable pace led by traditional buyers and sellers.
Remax spring 2016 Housing Trends for CanadaBo Kauffmann
The document is a 2016 spring housing market trends report that provides an overview of real estate markets across Canada. Some of the key points summarized are:
- Vancouver and Toronto housing markets saw significant price increases in the first quarter of 2016, with average home prices rising 24% and 14% respectively. Limited inventory has discouraged sellers.
- Surrounding regions of Vancouver and Toronto have experienced spillover effects as buyers move farther out in search of affordable homes, leading to price increases of 10-14% in some areas.
- Oil-impacted cities like Calgary and Edmonton have seen slowed housing markets due to economic conditions, though infrastructure projects are providing stability.
- Outside of major cities, declining oil
The document summarizes house price trends in Cape Town sub-regions from Q2 2019. It finds that:
1) Prices in affluent areas fell deeper into deflation, and this pressure is now spilling over to middle-priced areas, while lower-priced areas remain resilient with double-digit growth.
2) The overall city growth slowed to 0.5% year-over-year, the slowest since 2009, due to intensifying pressure in affluent areas now impacting middle areas.
3) While the market remains lackluster, some indicators show signs of resilience as buyers take advantage of better prices, with first-time buyer activity rebounding.
REMAX Winnipeg Real Estate Market Trend for Spring 2016Bo Kauffmann
- The Winnipeg housing market shifted to a balanced market in early 2016 due to an increase in new inventory. Home sales increased from 2,069 to 2,216 year-over-year while the average sale price rose 10% to $300,011.
- Low interest rates are driving demand from first-time and move-up buyers. A new 20,000-unit housing project is expected to further boost the market in coming years.
BC Real Estate Association: GVHBA Trends 2010 presentationGVHBA
This is a copy of Cameron Muir, chief economist, BC Real Estate Association, presentation at GVHBA's Trends 2010 seminar on December 8, 2009. Please note all information shared in this presentation is the property of BCREA and usage of the information requires crediting BCREA as the information source.
Most locations throughout our nation have smoking hot markets, cold-fish investment and just about every type of property in between. This month the team are providing detail on which parts of their markets are outperforming all others. In addition they’re sharing the knowledge........
Canada's national housing market appears steady with modestly cooling sales and price increases, though conditions vary significantly locally. Vancouver home sales have tumbled 40% since February due to severe unaffordability and new taxes, and prices may face further declines. Meanwhile, the Toronto area continues setting sales records and accelerating price gains due to strong demand and tight supply. Calgary sales are stabilizing at lower levels with modest price declines as ample supply offsets better affordability.
May Phoenix East Valley Real Estate Market ReportLen Nevin
The real estate market in Phoenix in May 2014 was weighted towards buyers but less so than in March. Housing demand remained weak while supply was normal. Overall home sales were down 12% from the previous year but normal MLS sales saw a 3.6% increase. Active listings were up significantly year-over-year at 69.3% but down slightly from the previous month. The market was improving slightly for sellers as demand increased faster than supply but sales volumes remained low overall.
Autumn Buyers Guide
Do your property buying research without having to spend your whole weekend searching the web. This reference guide for home buyers and investors from ING Direct will quickly bring you up to speed on house and unit prices and suburb affordability across Australia.
Confidence spreads throughout regional Queensland - check out all the latest trends and data for all the property markets across Queensland.
Brought to you by the REIQ and National Property Buyers.
http://www.nationalpropertybuyers.com.au
February Phoenix East Valley Real Estate Market ReportLen Nevin
The real estate market in Phoenix is shifting towards a buyer's market. Active listings have risen 45.9% from the previous year, while pending listings and monthly sales have declined sharply. If current trends continue, sellers will face more concessions and lower prices by the end of 2014 due to increased supply and decreased demand. The report provides detailed statistics on housing market trends in specific Phoenix metropolitan areas.
The document summarizes housing market conditions across various regions in Queensland, Australia for the September 2015 quarter. Some key points:
- The Brisbane housing market continued steady growth, with the median house price reaching a new high of $615,000 and sales activity up 5%.
- Housing markets in the tourism centers showed improvement, with the Gold Coast recording the highest quarterly increase in median house price. Cairns also saw increases.
- Regional centers like Mackay and Rockhampton remained weak, though Gladstone and Toowoomba showed some signs of stabilization or recovery.
- Unit markets generally followed house market trends, with some variation in specific locations.
- Housing prices in Vancouver and Toronto have continued rising unexpectedly in 2016, defying expectations of a soft landing.
- Vancouver's housing market is expected to experience a modest price correction of around 10% by mid-2017 due to new foreign buyer taxes and high unaffordability.
- Toronto's housing market is projected to continue accelerating in the near term due to limited supply response and potential increased foreign investment switching from Vancouver.
Apartment approvals plunged by nearly 40% in January (the weakest monthly result in 5 years) comes to the news that first home buyers are making a comeback
The document summarizes property market conditions across various Australian regions in October 2016. It finds that in Sydney, the $2-3 million price bracket for houses and $1.5-3 million for apartments is in high demand, while the off-the-plan apartment market is struggling. In Canberra and the Illawarra region, the entry-level housing market is most active. The prestige markets in Sydney and Canberra have limited supply but strong demand.
Queensland's residential property markets largely continued trends established in late 2014. Areas that had seen consistent improvements continued solid results, while previously struggling areas are now stabilizing. Major infrastructure projects have provided economic stimulation and supported recovery across regions. The Gold Coast, Sunshine Coast, and Cairns recorded continued solid results, while investor activity increased statewide but not as strongly in some regions as anticipated. Affordable house prices and low interest rates have helped first home buyers in regional centers.
Welcome to the latest edition of Queensland Market Monitor - a quarterly, electronic publication entirely focused on residential sales and rental research data on a suburb-by-suburb basis throughout Queensland, plus on the market statistics.
The Brisbane housing market reached a new high median price of $615,000 and defied predictions of slowing, helped by investment from southern Australia. Regional centers that relied on mining are stabilizing with economic diversification efforts underway. The tourism centers of Gold Coast, Cairns, and Toowoomba showed significant improvement in house sales markets over the quarter.
According to a variety of reported opinions, it’s Brisbane’s time to shine. The city has seen a stop- start-stagnate property market for close to a decade, with myriad factors (floods, unit oversupply, high unemployment, global pandemic) keeping our values
The document provides a quarterly market update for regional Australian markets in June 2016. It summarizes housing market performance for 11 different regions, finding that Illawarra recorded the largest annual increase in house and unit values. Transaction activity declined across most regions analyzed with the exception of Richmond-Tweed. Rental rates increased in some regions but yields declined, and home values increased in most major lifestyle markets but were flat or declining elsewhere.
A burden of foreclosures forced many people to move out of their homes and into apartment leases. On the other side, construction of apartments was uphold until the last few years because many builders couldn't get loans during the credit crisis.In certain places, this led to lease and a rise in rents.
This report provides a summary of global real estate market trends in the second quarter of 2013. The key points are:
1) Real home prices strengthened year-over-year in most countries surveyed, led by gains in the US and UK as monetary policy easing supports demand.
2) Canadian housing activity remains buoyant due to low interest rates, but fundamentals are becoming less favorable as job growth slows. Condo overbuilding is a concern in major cities like Toronto.
3) Several European markets like the UK are showing signs of recovery, while conditions remain weak in southern Europe with high unemployment in countries like Spain and Ireland.
4) Asian property markets are mixed, with strong growth continuing
The document discusses the state of the housing market in California. It notes that while prices rose quickly in 2013, driven by low inventory and investors, the market may be reaching a tipping point. Rising mortgage rates have slowed buyer demand and impacted affordability. However, inventory levels are starting to increase, and investors are playing a smaller role. While interest rates caused pause, the recovery is expected to continue as buyers adjust to new market conditions. The recovery is moving toward a more sustainable pace led by traditional buyers and sellers.
- Home sales in 2014 are expected to hold steady at around 5.12 million units, similar to projected sales in 2013. Median home prices are forecast to rise nearly 6% in 2014 after an expected 11% increase in 2013.
- Inventory shortages continue to put upward pressure on home prices. Housing starts need to increase substantially to meet demand and alleviate the shortage.
- Mortgage rates are projected to rise through 2014, reaching over 5% by year-end, which will impact affordability. Job growth and potential easing of lending standards could offset higher rates.
- Inflation may start to rise in 2014 as the rent component increases, emphasizing the need for more new home construction to control price growth
The Barrington area real estate market experienced a slow start in 2014 with sales dropping 17.8% and new listings also slowing significantly due to many days below freezing in January compared to the previous year. While sales fell and days on market improved by over 50%, closed sales rose 14% to 40 for the month which is typically half the level of summer months. Inventory remained even, indicating a seller's market for lower-priced homes as buyers are purchasing quickly.
The real estate market in the Portland metro area saw decreases in activity in November compared to previous months. Closed sales were down 1% from October but up slightly from November of the past two years. Pending sales were also higher than the past two Novembers. Inventory saw a small drop, which is positive for sellers. The brokerage expects a record number of sales in December despite the overall RMLS numbers due to increased buyer activity recently.
Challenging Times in a Market Full of Contradictions
There is little doubt the luxury real estate market is facing some interesting challenges that even
have experts contradicting each other in their predictions and assumptions.
Statistics in many luxury markets still show that they are favorable to sellers – so why are homeowners
remaining hesitant to list their homes? For the fourth straight month, the number of new listings
entering the market has fallen, with increases in inventory levels mainly attributable to stale listings
lingering on.
Both sellers and buyers are sitting on the fence, with neither side wanting to jump into this
unconventional market unless presented with the right opportunity. The average days on market
have increased compared to last year, but relative to pre-pandemic averages, homes that have sold
recently are still selling twice as fast.
This luxury market report provides an overview of the luxury real estate market in June 2022. Inventory levels of luxury homes increased significantly in May compared to the previous year, with new listings up 61% for single-family homes and 37% for attached homes. While prices remained elevated, with the median for top 10% homes up 16%, the slowing of price growth and rising inventory levels suggest the market is cooling rather than bursting. Most experts see the increases as a return to a more balanced market rather than the start of a crash, as demand still outweighs supply and other factors like demographics support ongoing housing needs. Some warning signs like inflation and supply chain issues could pose challenges, but more inventory may give buyers more negotiating power
The document summarizes recent trends in the Canadian housing market. Prices are at an all-time high but are expected to increase at a slower rate as tighter mortgage regulations and rising interest rates cause the market to become more balanced. Home sales declined in May from the previous month due to fewer purchases in major cities. New listings also declined slightly for the first time in eight months as the market adjusts to changing conditions. The Canadian economy remains strong overall despite the rate hike by the Bank of Canada.
The document discusses the state of the US housing market and argues that now may be a good time to consider investing in housing. It provides the following key points:
1) The US housing market experienced a historic collapse after peaking in 2006, with housing starts, home prices, and construction employment all declining substantially.
2) On various measures like price-to-income and price-to-rent ratios, US home prices are as low as they have been in decades, driven down by falling demand and excess supply during the bust.
3) Housing inventory levels remain elevated but are gradually declining as minimal new construction eats into the stockpile, suggesting prices may rise if demand picks up again.
4
Capital city dwelling values increase by 1.0% in September
The latest CoreLogic Hedonic Home Value Index reveals further gains across most capital city housing markets last month, taking the current growth phase into its 52nd month.
While home prices have increased 12% year-over-year in 2013, the fastest rate since 2006, prices remain below the peak levels seen during the housing bubble and are still undervalued compared to historic norms. Mortgage rates remain low but access to credit has tightened significantly compared to the bubble years, with average borrower credit scores much higher now. Some experts are concerned about the rise in home flipping but others note that investors are putting more of their own money at risk this time rather than relying on easy credit. Overall most data suggests that while the housing recovery is gaining momentum, conditions do not yet point to a new bubble forming across the market.
The document provides commentary and data on the US housing market in mid-2011. It summarizes key metrics driving the real estate market including home sales, prices, inventory, mortgage rates, and affordability. It also outlines recent government actions and provides tips for home buyers, sellers, and owners. Finally, it provides information about Keller Williams Realty and local real estate agent Paul Drury.
The San Francisco real estate market was very slow in
January, picked up a bit in February, and then took off
in March. It appears that this upward trend will carry into the
second quarter of 2017. Already in the first couple weeks
of April we’re seeing an acceleration in activity.
This document is the September 2022 Luxury Market Report produced by The Institute for Luxury Home Marketing. It provides an in-depth analysis of luxury real estate market data and trends across North America. While most luxury markets remain seller's markets, the report notes signs that some are transitioning to more balanced or buyer's friendly conditions as inventory levels have risen from a year ago and new listings are declining. It also highlights some key trends impacting luxury buyers and sellers, such as a return of contingencies in offers, homeowners choosing not to list until conditions improve further, and priorities shifting towards mid-sized homes and locations closer to amenities.
The California housing market in 2018 is expected to see continued high demand and rising home prices due to a shortage of supply. The passage of a tax reform bill could significantly impact the market by eliminating state and local tax deductions, increasing the time homeowners must live in a property before selling to qualify for capital gains exclusions. This would likely cause homeowners to stay in their homes longer, further reducing supply. Mortgage rates are also expected to rise in 2018 compared to 2017 due to Federal Reserve actions, making homes less affordable. Overall the market is forecast to remain a seller's market with a widening gap between buying and selling prices.
- The US economy has seen strong growth in lifetime wealth and stock markets but sluggish GDP growth since the recession. Housing has contributed more consistently to GDP growth recently.
- Homeownership rates are at historic lows, especially for young people, due to high student loan debt, lack of affordable inventory, and competition from investors. However, Americans still view homeownership positively.
- The housing market is forecast to continue strengthening in 2016 with increases in home sales, prices, and construction as mortgage rates rise gradually and job growth continues. However, more housing supply is needed to truly improve affordability.
The document discusses a meeting of realtors where speakers explained the slow housing recovery, noting that recovery depends on one's financial position prior to the crisis. Younger generations are not buying homes as expected due to factors like student debt or preference to live at home. While local markets are improving, with sales and prices up, the national recovery remains uneven and hampered by restrictive lending and high unemployment.
Sue adler 2014 summary millburn short hillsSue Adler
The Millburn and Short Hills real estate market performed well in 2014, with the average home selling in 47 days for an average price of $1,323,752, higher than any other nearby town. A total of 329 homes were sold. The $750,000 to $1,250,000 price bracket performed the best, with homes selling on average in 36 days at 97.6% of the original list price. This segment accounted for 38% of the market and often saw multiple offers. The under $750,000 and $1,750,000 and up segments took longer to sell, with the luxury market also seeing price reductions and being more seasonal.
- Sales of homes in the Greater Toronto Area through the Toronto MLS system were down 17% in March 2013 compared to March 2012, with 7,765 transactions in March 2013 versus 9,385 in March 2012.
- The average selling price in March 2013 was up 3.8% compared to March 2012, rising to $519,879 from $500,875.
- For the first quarter of 2013, home sales were down 14% compared to the first quarter of 2012, while the average price rose 3.2% to $508,066.
The document summarizes commercial real estate market trends in Toronto for the first quarter of 2013. It reports that 4.5 million square feet of space was leased, a 4.5% decrease from the previous year. Industrial space made up 78% of leased space. Average industrial lease rates increased 4.4% to $5.15 per square foot. There were 274 commercial property sales, down from 334 the previous year, and the average industrial sale price decreased slightly to $61.10 per square foot.
The document contains charts analyzing the Toronto housing market from November 2012. It shows trends in home sales, new listings, average prices, and sales to new listings ratios over previous years. The charts indicate seasonal patterns and compare the current year to prior years. They also show 12-month moving averages to illustrate underlying trends. Relationships are presented between sales to new listings ratios and price changes. The final chart examines housing affordability based on average household income and costs.
The document provides home sales data for the Greater Toronto area in June 2012. It reports that home sales were down 5.4% compared to June 2011, with the largest decline in the City of Toronto at 13%. The average home price increased 7.3% to $508,622 compared to June 2011. Low-rise home types such as detached homes and semis drove the price growth in June.
The document summarizes real estate data for the Greater Toronto area in May 2012. It reports that home sales increased 11% compared to May 2011, with 10,850 transactions. Average home prices rose 6.5% to $516,787. While sales growth was strongest in areas surrounding Toronto, average price growth was driven by the low-rise market segment within the city. Strong competition between buyers for low-rise homes contributed to price increases, but annual price growth is expected to moderate as new listings rise substantially above year-ago levels.
Greater Toronto Area REALTORS® reported 5,793 sales in November 2012 – down by 16 per cent compared to November 2011. “Transactions have been down on a year-over-year basis since June, after being up substantially in the last half of 2011 and the first half of 2012. Some buyers pulled
- In Q3 2012, TREB members reported almost 3.5 million square feet of industrial, commercial, and office space leased, down slightly from 3.7 million square feet in Q3 2011.
- Average industrial lease rates increased year-over-year while commercial/retail and office rates decreased.
- TREB members reported 214 commercial property sales in Q3 2012, down 18% from 262 sales in Q3 2011. The average selling price decreased across all categories due to a shift in the mix of property types sold.
- In September 2012, there were 5,879 home sales through the Toronto Regional Real Estate Board, down 21% from September 2011. However, sales were only down 12.5% when accounting for fewer working days.
- The average selling price in September 2012 was $503,662, an increase of over 8.5% from September 2011. Price growth was strongest for low-rise home types.
- Inventory levels remain low historically, which is contributing to ongoing price growth expected through 2013, especially for low-rise homes.
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Why is Revit MEP Outsourcing considered an as good option for construction pr...
Remax Spring Market Trends
1. MARKET
TRENDS REPORT
SPRING 2012
Newfoundland
& Labrador
St. John’s
Solid economic performance and record low interest
rates have prompted strong residential sales activity
in St. John’s out of the gate in 2012. Over 400 homes
changed hands so far this year, up 12.5 per cent over
the same period in 2011 (404 units vs. 359 units).
The upswing in confidence that motivated buyers en
masse also resulted in an influx of new listings coming
on-stream in January, but listings slowed in February
(down 12 per cent). Overall, the number of homes
available for sale remains up over last year and buyer’s
conditions remain in place. Yet, with the sales momentum
continuing strong into March, the market may finally
start edging closer to balanced territory in the months
ahead. For now, average days on market have inched
up in tandem with inventory levels, currently sitting at
approximately 70 days. Sellers will need to price their
R
properties correctly to succeed in the more competitive
spring marketplace. First-time purchasers continue to
lead the charge, but the ripple effect has also bolstered
the move-up segment. The city’s average price rose
10 per cent to $278,893, up from $253,879 one year
ago, and at this rate, may well top $300,000 in short some areas on homes that are priced under $200,000.
order. Exceptional price appreciation has undeniably There has been an increase in buyers looking to properties
been pulled up by the higher cost of new construction. that offer basement apartments to offset carrying costs.
It’s estimated that real prices have increased more Condominiums are also gaining greater momentum, as
moderately, based on comparables, and appreciation in prices track upward and the population ages. A grow-
the neighbourhood of five to six per cent is a realistic ing number of long-time homeowners are opting to
projection for 2012. Demand remains very strong for trade in their larger, single-family homes, purchase
entry-level product, especially if priced in the $200,000 low-maintenance condominiums and establish a solid
to $275,000 range. Multiple offers are occurring in nest egg for retirement. Developers are more in tune
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Market Trends Report Sprint 2012 1
2. with the need for affordable options, introducing purchasers are looking at properties outside of Saint
condominium projects addressing the entry-level and John proper, where the tax rate is substantially lower.
move-down market, located in the heart of St. John’s. Despite a greater number of sales in the lower end,
The upper-end remains quite resilient in both the new average price has held up well—climbing half a per
and resale categories. The enthusiasm of the resale cent year-to-date to $178,594 from $177,744. The top
market has been mirrored by the new homes segment end of the market was on the upswing in February
—housing starts in St. John’s are up 46.5 per cent year- —another example of higher confidence. So far this year,
to-date (230 units vs. 157)—an indication that many 12 sales over $350,000 have been recorded, versus
are anticipating another healthy year of real estate ac- 10 sales one year earlier. Overall inventory is slightly
tivity. With a very robust local economy—and several ahead of last year’s levels, with some tightening at the
billion-dollar capital works projects supporting job and $180,000 - $230,000 price point. Demand for water-
income growth—there’s no question that St. John’s is front properties has been brisk, with baby boomers
well-positioned for a lively spring market. from out-of-province—many returning to Saint John
to retire—leading the trend. A stable local economy
and job security remain first and foremost with today’s
New Brunswick real estate consumer. While not directly impacted by
global economic uncertainty, the lack of projects on
the horizon has given some purchasers cause for con-
Saint John cern. An improved economic outlook should serve to
further bolster the residential market moving forward.
Residential real estate activity in Saint John is off to Buyer’s market conditions remain in place, although
a strong start in 2012, building on the healthy mo- healthy spring sales could inch the market closer to-
mentum demonstrated in the final quarter of 2011. ward balanced territory.
The combination of low interest rates and attractive
housing values has been a considerable impetus. As a
result, year-to-date home sales have returned to more
typical levels (209 units), compared with the weak
start in 2011 (174 units). This represents a signifi-
Nova Scotia
cant 20 per cent increase and stands as the third- Halifax – Dartmouth
highest gain in the country year-to-date. A clear, al-
beit cautious, optimism is building, moving into the Residential real estate activity in Halifax-Dartmouth
traditionally busy spring season. That confidence is has come in like a lion, with February year-to-date
most evident among first-time buyers, who are fuel- sales up 35 per cent (896 units vs. 663 units). Consumer
ling activity for entry-level properties priced between confidence, bolstered by last fall’s shipbuilding an-
$120,000 and $160,000. In fact, sales under $160,000 nouncement, continues to rise, prompting many buyers
accounted for 44 per cent of total MLS sales year-to- into the market to take advantage of exceptionally
date, compared with just 25 per cent in 2011, under- favourable interest rates. While new listings jumped
scoring the significance of the entry-level enthusiasm. 13 per cent in February, active listings are down five
Most buyers are taking their time making decisions, per cent, resulting in a more competitive marketplace
looking at a good number of homes before they com- overall. Days on market have also fallen considerably
mit. Offers to purchase are typically conservative as a compared to last year. Multiple offers are occurring
result, with purchasers moving on when sellers appear on well-priced, choice product throughout the city,
unwilling or unable to negotiate. Some entry-level but the trend is most noticeable in Peninsula Halifax,
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Market Trends Report Spring 2012 2
3. where supply is tight and prices have experienced carry into the second half of the year. In fact, if the
stronger than average appreciation. Overall average momentum continues, some forecasts see the appre-
price in Halifax-Dartmouth now hovers at $263,001 ciation of both sales and prices possibly doubling over
year-to-date, up two per cent from $257,370 during previous projections.
the same period one year ago. The market is now working
in tandem, with buyers at all ends of the price spectrum
ramping up activity. Sales of new single-family homes
have been reinvigorated as well, with presales on the
upswing. Entry-level buyers have felt the pinch of an
Ontario
increasingly competitive market more than most, with London – St. Thomas
inventory tightest for bungalows and townhomes
priced between $200,000 and $250,000. More strin- Activity proved very strong in the London-St. Thomas
gent lending criteria has also factored in, but most are residential housing market at the outset of the year, as
finding ways to adjust. A shortage of quality homes, purchasers reaffirmed their belief in homeownership,
priced from $350,000 to $450,000, is increasingly evi- enticed by low interest rates and balanced market con-
dent in Downtown Dartmouth. As a result, prospecting ditions. By the end of February, over 1,088 detached
in the form of door-knocking and cold calls is not homes and condos had changed hands, an increase of
unheard of to drum up listings. Despite the tight start 11 per cent over the 979 properties sold one year earlier.
to the year, more listings started to flow in February. As a result, average price is on the upswing, posting a
However, with transfer season about to get underway, gain of almost two per cent, hovering at $230,624 year-
there is some concern that inventory may struggle to to-date. While all segments of the market are moving
keep pace with strong demand. The stage could be set well, the detached market is showing particular strength
for a record-breaking spring in 2012, barring any fur- (877 vs. 782), up 12 per cent over last year. Condominium
ther storms on the global economic front. First-time sales have also been brisk, with units sold up seven per
buyers will once again lead the charge, but trade-up cent (211 units vs. 197). Multiple offers have begun to
activity is picking up considerable steam. Detached emerge in both the detached and condominium cate-
homes are most sought-after, followed by semi- gories throughout London. Quality, entry-level product
detached and townhomes. Demand for condominiums remains most sought-after, with detached homes,
has climbed substantially, while listings have fallen. priced from $225,000 to $350,000, and condominiums,
More units have moved at the lower end this year, pulling priced from $150,000 to $225,000, in greatest demand.
the average price of a condominium down slightly There has been considerable strength in the mid-range
compared with year-ago levels. Prices have also been as well, and the city’s upper-end continues to defy
tempered by rental rates that continue to trend lower expectations—a clear sign of the confidence in residential
than condominium carrying costs and a recent in- real estate. Overall, properties are averaging 45 days on
flux of new multi-family rental construction that has market in London-St. Thomas, but well-priced homes
pulled up vacancy rates in the city. At the other end, in good locations are moving within a week or two.
the luxury market remains healthy, particularly in core Despite conditions, few properties are selling over list
areas, while in the suburbs and beyond, the preference price and homes that are overpriced are often over-
is for custom-built homes. Halifax-Dartmouth’s real looked. Investors remain very active near the university
estate market is poised for an exceptionally vibrant and college. Few remain daunted by global uncertainties,
year. With employment, in-migration and population and despite an unemployment rate that hovers just below
set to rise, buyers can look for the current strength to nine per cent, those secure in their jobs and confident in
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Market Trends Report Sprint 2012 3
4. the future continue to make their moves. Affordability condominium segment, although absorption rates
remains a major draw for the city. With a banner start remain healthy at present. Condo sales now account
to the year, London-St. Thomas is on track for a very for 35 per cent of the residential real estate market
active spring market and a strong first half. Listings in Kitchener-Waterloo. Townhouse condominiums,
will be the most important variable moving forward. priced between $350,000 and $400,000, have become
a highly popular option for young buyers, professionals,
downsizers and empty-nesters, who seek the benefits
Kitchener – Waterloo of a low-maintenance lifestyle. Uptown Waterloo and
Downtown Kitchener are the top choices among condo-
Confidence among purchasers in Kitchener-Waterloo’s minium consumers, while families seek out newer homes
residential housing market remains steady, with sales in the suburbs. Some are looking to nearby Brantford for
in the mid-to-upper price points gaining momentum value, and opting to commute. While the local employ-
over one year ago. Average price has been pulled up- ment picture remains front and centre, an increasing
ward as a result, moving ahead more than nine per number of buyers are refusing to put their life on hold
cent from $284,740 to $311,457 (February 2011 vs. any longer and are moving off the fence. Another posi-
February 2012). Yet, year-over-year comparables paint tive sign is that the city continues to grow, welcoming
a more accurate picture of appreciation, with most home new residents from across the Golden Horseshoe, and
prices typically up three to four per cent over the pre- this continues to prop up demand for housing. Activity
vious year. Year-to-date unit sales, on the other hand, is expected to remain stable throughout 2012, running
remain four and a half per cent off 2011 levels (830 slightly behind the pace of one year ago, while prices
units 869 units). Market conditions remain balanced post moderate appreciation.
overall, with buyers taking advantage of rock-bottom
mortgage rates, a good selection of inventory and the
luxury of time to make decisions. Days on market have Hamilton – Burlington
edged down slightly to 52 days from 54. While the
$300,000 to $400,000 price point is most sought- Demand for residential real estate is heating up in the
after, there is also a strong appetite for entry-level Hamilton-Burlington area, setting the stage for an
properties. Buyers will find supply slightly less generous active spring market. First-time and move-up buyers
under the $300,000 price point, while anything priced are expected to drive sales across the board, building
under $200,000 is snapped up quickly. Inventory also on the momentum of the last quarter of 2011. While
remains short in traditionally coveted neighbour- inventory levels are climbing, supply has been limited
hoods such as Old Westmount. Multiple offers are to date. Overall sales are up close to seven per cent
few and far between in all segments of the market, al- over one year ago, hovering at 1,855 units, compared
though sale-price-to-list-price ratios have held up very to 1,736 units in the first two months of 2011. Aver-
well—averaging approximately 98 per cent. Existing age price has appreciated over five per cent year-to-
condominium sales continue at a solid clip, although date, rising to $347,660, up from $329,722 in 2011.
paper sales have slowed. There have been a few excep- Single-detached homes remain most popular with
tions—most notably for product that is marketed to purchasers, representing close to 83 per cent of resi-
the university crowd. One such project on King St. dential sales activity, while condominiums make up
recently sold out in two days—almost unprecedented the remaining 17 per cent. Affordability has fuelled
in a balanced market. Looking ahead however, there homebuying activity in the Hamilton area where the
is some concern that the 6,000 new units coming on average price is significantly less than neighbouring
stream over the next year and a half will saturate the Burlington. Hamilton East has surged in popularity
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Market Trends Report Spring 2012 4
5. as value-conscious first-time buyers take advantage of point up from one year ago. While today’s low interest
attractive house prices and ideal location, given the rate environment has been exceptionally conducive to
recent announcement (addition) of a Go Station. Move- homebuying activity—tighter lending policies may
up buyers, empty nesters, and out-of-town purchasers have some impact on the market down the road. Still,
are behind the push for residential real estate in Dundas, Hamilton offers up some of the country’s most afford-
many now drawn to the vibrant community because able inventory—and for many, the cost of owning is less
of its trendy shops, restaurants, and high-rise condo- than the cost of renting.
miniums. Move-up buyers from Toronto proper have
grown increasingly attracted to Burlington real estate,
particularly communities abutting the Oakville border. Greater Toronto Area
As a result, competition has been building for single-
detached homes priced from $350,000 to $550,000, The residential real estate market in the Greater
with multiple offers occurring with greater frequency Toronto Area continues to fire on all cylinders in 2012,
in recent weeks. Bidding wars are also happening on fuelled by low interest rates, strong demand and a
entry-level properties in Hamilton, ranging in price shortage of available inventory. Approximately 11,504
from $230,000 to $275,000. The top end of the market properties changed hands in the first two months of
has been solid, with sales over the million-dollar price the year, up 12 per cent over 2011 levels, extending the
SPRING MARKET TRENDS REPORT
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RESIDENTIAL STATISTICS (JANUARY 1 – FEBRUARY 29)
Unit Sales Average Price
Market YTD 2011 YTD 2012 % +/- YTD 2011 YTD 2012 % +/-
St. John’s 359 404 12.5 $253,879 $278,893 10
Saint John 174 209 20 $177,744 $178,594 0.5
Halifax-Dartmouth 663 896 35 $257,370 $263,001 2
London-St. Thomas 979 1,088 11 $226,709 $230,624 2
Kitchener-Waterloo 869 830 -4.5 $284,740 $311,457 9
Hamilton-Burlington 1,736 1,855 7 $329,722 $347,660 5
Greater Toronto Area 10,257 11,504 12 $442,978 $487,254 10
Ottawa 1,617 1,693 5 $335,716 $349,791 4
Winnipeg 1,345 1,343 -0.2 $219,450 $241,115 10
Regina 392 455 16 $274,676 $290,006 6
Saskatoon 475 574 21 $300,110 $318,163 6
Calgary 2,707 2,806 4 $410,851 $412,300 0.4
Edmonton 1,978 2,189 11 $311,307 $325,041 4
Greater Vancouver Area 4,921 4,142 -16 $786,233 $786,695 0.1
Victoria 723 775 7 $475,640 $469,399 -1
Source: Local Real Estate Boards, RE/MAX
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Market Trends Report Sprint 2012 5
6. market’s run to 10 consecutive months of upward Ottawa
momentum. Average price remains on the upswing,
climbing 10 per cent over last year’s figure, settling Steady consumer confidence levels continue to fuel home-
at $487,254. Days on market are lower than usual, buying activity in Ottawa, with demand particularly
hovering at 24, compared to 27 in February 2011. heated for entry-level product heading into the tradi-
Despite an 11 per cent increase in new listings overall, tionally busy spring market. A mild January and February
active listings remain just slightly ahead of year-ago brought buying decisions forward for many, with single-
levels heading into the traditionally busy spring market. family homes, priced from $300,000 to $400,000, and
Multiple offers are commonplace, with an estimated condominiums, ranging in value from $250,000 to
50 per cent of detached homes priced in the coveted $350,000, most popular with first-time buyers. Over-
$600,000 to $900,000 price range selling for more than all inventory levels are healthy, but supply falls short of
list price in blue-chip areas like the Cricket Club, demand in the starter home category. To date, close to
Lytton Park, Cedervale, Leaside, Riverdale, the Beach, 1,693 homes have changed hands, up close to five per
Leslieville, Bloor West Village and High Park. Bidding cent from the 1,617 properties sold during the first two
wars have spilled over into the top end of the market months of 2011. Average price continues to climb, rising
as well, with many homes priced over $1.5 million more than four per cent to $349,791 in 2012. Condo-
moving in multiples. Sales have been brisk at all price minium values have appreciated even further, rising just
points—especially luxury properties—where the number over nine per cent—thanks to a large influx of high-end
of units sold over $1.5 million has climbed a sub- condo sales priced from $500,000 to $750,000. Investors,
stantial 53 per cent. Condominium resales remain a empty nesters and retirees continue to drive demand for
popular choice among first-time buyers, especially condominium product, especially in the centre of the
high-rise units along the city’s major transportation city. The latter two groups wish to remain in the same
routes. Developments situated on the Yonge, Bloor, neighbourhood—making lateral moves to new condo-
and even Sheppard subway lines continue to experi- minium developments within walking distance of their
ence solid demand. Hip enclaves such as King St. homes. Condominiums now represent approximately
W. and Liberty Village are increasingly sought–after 22.5 per cent of total residential sales in Ottawa. The
by young professionals, many of whom work in the top end of the market has also been brisk, with sales up
core. Condominium sales represented 32 per cent of over last year in the $750,000-plus category. The luxury
total residential sales this year—and 66 per cent of segment is solid, with supply meeting demand. Some
sales in the central district. With more than 132 new multiple offers are occurring, especially in communities
buildings currently under construction and expected such as Westboro, the Civic Hospital, and Hintonburg.
to come on-stream in the years ahead, it’s a safe bet Older housing in close proximity to the downtown core,
that condominium purchasers will have a good selec- bordering the parkway and the Civic Hospital area, as
tion of properties to choose from, particularly in the well as Little Italy and areas along the canal, have seen a
downtown core. Given the city’s vacancy rate of just tremendous amount of infill, teardown, renovation, and
over one per cent, excess units will be easily absorbed revitalization. Neighbouring Mechanicsville has also
by the rental market. While most buyers remain un- experienced greater infill activity, as purchasers take ad-
daunted by current market conditions, bidding war vantage of opportunities that exist within the market.
fatigue has impacted some purchasers who have cho- Serious equity gains in the duplex-triplex category have
sen to retreat—waiting for a lull in the market or an resulted in a severe shortage of product as purchasers
opportunity to save additional funds. look to offset carrying costs by living in one unit and
renting the others. Ottawa’s housing market is expected to
remain healthy as a result of strong underlying economic
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Market Trends Report Spring 2012 6
7. fundamentals, although there are some concerns that sales are keeping pace with 2011 levels, despite a five
government layoffs may have an effect on the market. per cent drop in active listings. Investors remain active,
Low interest rates have bolstered homebuying activ- with plex-type properties highly sought-after. However,
ity, a trend expected to continue in coming months. conditions are posing a challenge even for seasoned
Immigration has also contributed to the stability of the buyers. The upper-end of the market remains solid,
housing market, with an estimated 7,000 to 8,000 new with homes priced over $500,000 up over one year ago.
immigrants expected yet again in 2012. The spring market is expected to be heated once again
in Winnipeg. With the forecast calling for a repeat of
2011 in terms of activity—a year that was off 2007 by
Manitoba just 13 sales—there’s no doubt that a record or near-
record performance could be shaping up.
Winnipeg
While residential real estate sales are virtually on par
with levels reported one year ago in the city of Win-
Saskatchewan
nipeg (1,343 units vs. 1,345), a shortage of inventory Regina
continues to place a damper on activity year-to-date.
Despite one of the best Januarys on record in 2012, Solid economic performance continues to propel home-
momentum would have been stronger if adequate buying activity in Regina, positioning the city for yet
product were available. Buyer confidence and inten- another robust year of residential real estate sales and
tions remain high, but so do frustrations, as quality price appreciation. Job creation, population growth,
product is snapped-up quickly and multiple offers and a provincial surplus are all factors contributing to
are occurring throughout the city on product priced the city’s growing exuberance—in spite of the looming
under $500,000. The lower end of the market is ex- financial crises abroad. After decades of slow growth,
periencing the tightest conditions, particularly under housing values are escalating—showing consistent re-
the $250,000 price point. Five to six offers are not turn for more than ten years. The mindset is changing
uncommon on a single listing. Homebuyers, unsuc- as a result, with the belief in homeownership rising
cessful in their hunt, continue the search, but the among first-time and move-up buyers. Home sales in
competition is not expected to let up any time soon. Regina proper (areas 1 through 5) are up 16 per cent in
In fact, of homes sold in February, 44 per cent of single- the first two months of the year, rising from 392 units
family properties and 31 per cent of condominiums sold in 2011 to 455 in 2012. Average price is also on the
above list price. Yet, despite the intense conditions, upswing, appreciating close to six per cent to $290,006
most purchasers remain grounded, and overpriced from the $274,676 posted one year ago. Inventory
listings will typically sit longer and/or face stagna- levels are tight, particularly in the city, with a notable
tion. Average price now hovers at $241,115, up 10 shortage of starter properties priced from $300,000 to
per cent from $219,450 one year ago. Seller’s market $400,000. Days on market have fallen to 29 from 39
conditions remain firmly in place, with most listings one year ago. Overall two-storey condominium town-
averaging 28 days on market. The most active price homes ranging from $285,000 to $350,000 are also in
ranges are $150,000 to $300,000 in the single-detached short supply—in large part due to demand from the
category and $150,000 to $200,000 in the condo- first-time buyers segment. New listings have fallen just
minium segment. First-time buyers continue to lead over five per cent year-to-date. New home construc-
the charge. Both condo sales and single-family home tion is well-underway throughout the city, with new
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8. subdivisions cropping up adjacent to existing com-
munities. Demand now exists at virtually every price
point and housing type—from entry-level condomini-
ums to custom-built, single-detached executive homes.
2011 marked the best year to date for MLS sales
and dollar volume—and surprisingly, the market did
not gain a foothold until April. 2012 looks to be a
mirror year, with first-time and trade-up buyers once
again working in tandem. Move-in purchasers from
out-of-province are also expected to contribute to
the mix this year. Affordability will play an ever more
important role as buyers balance expectations with
rising housing values and limited inventory levels.
The sales-to-new listings ratio was 74 per cent in the
city in February—a clear indication that sellers are
once again in the driver’s seat.
Saskatoon
Strong momentum from the final quarter of 2011 has
spilled over into 2012, with residential housing sales
in Saskatoon well ahead of last year’s levels. Close to
600 homes (574) have changed hands so far this year
(February year-to-date)—an increase of 21 per cent
over the same period in 2011, when just 475 properties to characterize conditions for first-time purchasers this
sold. Average price continues to climb, rising a solid spring. Time on market continues to decline, now
six per cent to $318,163 from $300,110 one year earlier. hovering near 40 days. While list-price-to-sale-price
Double-digit appreciation has been noted on proper- ratios are on the upswing across the board, there
ties west of the river. New listing inventory, at 1,100 continues to be product on the market that is over-
units has improved two per cent over last year, as Sas- priced—whittling real selection further, as buyers will
katoon’s real estate market has prompted more home- most often pass over a property that is listed too high,
owners to list earlier in the year. Yet, despite the influx, rather than make a lower offer. The condominium
active listings are down 3.5 per cent from 2011 levels. market remains healthy, although an abundance of
While the market is balanced overall, quality, turn-key product, particularly at the lower end—re-fitted units
homes are harder to come by and are drawing multiple priced between $200,000 and $225,000—will keep
offers in some instances, if priced correctly. However, appreciation relatively flat this year. Buyers can get
few are selling over list price. Demand is strong in into the market for as little as $195,000 for an older,
areas such as Willow Grove, Stonebridge and Hampton converted unit in areas such as River Heights, Arlington
Village, especially at the $350,000 to $475,000 price or the centre core. Move-up buyers, however, are
point. Supply is also starting to tighten for entry-level, dominating the condo segment, with well-appointed
single-family homes, priced below $375,000, and units in the mid-range—priced from $350,000 to
product is moving quickly. Greater urgency is expected $400,000—most popular. Confidence is evident in
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Market Trends Report Spring 2012 8
9. the upper-end as well, with steady demand for luxury the charge. Activity has climbed at virtually all price
homes, priced over $500,000. Solid in-migration and points, up to and including the $1 million range. Turn-
continued population growth remain important drivers, key homes, with realistic sticker prices, are in greatest
fuelling demand for housing. From 2006 to 2011, the demand, as buyers are reluctant to spend additional
Saskatoon CMA experienced significant double-digit money on major renovations. Most are willing to wait
appreciation of 11.4 per cent, with the city now for the right properties to come on-stream. Rowhouse-
exceeding 260,000 residents. The province’s stellar style townhomes are particularly popular, with sales of
economic footing will continue to contribute to on- condominium towns ahead 10 per cent year-over-year
going confidence. In addition to the vibrant natural (331 units vs. 300 units). Single-family homes have also
resource sector, prime agricultural conditions are ex- experienced an upswing of six per cent (2,048 vs. 1,940),
pected in 2012. A recording-breaking spring is pos- despite a nine per cent decline in new listings compared
sible, which could give shape to the best year ever for to one year earlier. Average price has stabilized and is re-
residential housing in Saskatoon. turning to an upward, albeit very modest, trajectory, with
the exception of the condominium apartment segment
which remains off 2011 levels in both sales and pricing.
Alberta Calgary’s total residential average price now sits at
$412,300, up over $1,000 compared to 2011. The upper-
end of the market has held up well in all segments, with 58
Calgary home sales over $1 million vs. 61 last year (February year-
to-date). All indicators point to a healthy spring market,
While activity in Calgary’s residential real estate market as activity continues to gain momentum. Prices are once
mirrors 2011, one factor is decidedly different—con- again heading into positive growth territory, although
sumer confidence is once again on the rise. Although trending will remain modest in the months ahead. The tides
the ascent remains slow and cautious, demand has in- of optimism are turning, which bodes well for Calgary’s
creased for all types of residential housing, most notably residential real estate market moving forward.
in mid-to-late February. As a result, unit sales in the city
are up nearly four per cent, with 2,806 homes changing
hands to the end of February, compared with 2,707 Edmonton
homes during the same period the previous year. Some
multiple offers have occurred in the inner core’s most Affordability and selection have contributed to the
desirable areas. Yet, very few homes are selling over turnaround in Edmonton’s residential real estate market
list price, although sale-price-to-list-price ratios are so far this year. Greater job security and an ever-
starting to improve. Days on market remain relatively improving economic picture are spurring first-time and
stable at approximately 50. The rising momentum in move-up buyers into the market, many of whom are
the marketplace has been attributed, in part, to buyers taking advantage of interest rates at record low levels.
re-entering the market, after months of sitting on the Approximately 2,189 homes changed hands in the
fence. Many are more mature purchasers who are think- first two months of the year, an 11 per cent increase
ing long-term, taking note of good pricing and unprece- over the 1,978 sales reported during the same period
dented interest rates. While conditions remain balanced in 2011. Average price is also on the upswing, rising
overall, the supply of entry-level homes on the west side just over four per cent to $325,041, almost $14,000
is tight. Product priced under $400,000—and located in higher than one year ago. While the number of new
good neighbourhoods—is generally moving very well listings that have come on-stream remains robust,
throughout the city, as first-time buyers continue to lead supply is being absorbed, a fact best illustrated by tight
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Market Trends Report Sprint 2012 9
10. inventory in the single-family homes category, priced and North Vancouver bucked the trend, reporting a
between $300,000 to $350,000. Renewed confidence year-over-year increase. Housing values have shown
in the market can also be seen in new construction remarkable stability, given the substantial influx of new
activity, with sales advancing at a healthy pace. Greater listings and the recent pullback in sales activity so far
balance is returning to the housing market, now this year. Year-to-date average price hovers at $786,695,
that buyers and sellers are on the same page. Some just slightly above the 2011 figure of $786,233 for the
multiple offers are occurring, but they are typically same period. While affordability remains the greatest
the exception rather than the rule. Single-detached obstacle to homeownership in the Greater Vancouver
homes are most sought-after, with an average price of Area, first-time buyers continue to focus on condo-
$370,293, and a sales-to-listings ratio of 48 per cent. minium apartments where the average price currently
Year-to-date 2012 is the strongest on record for single- sits at $457,947—significantly under the blended rate.
family home sales (1,466) since 2008. Condominiums Townhomes have also experienced steady demand as an
remain a popular choice with first-time buyers and affordable alternative to single-detached housing, with
empty-nesters, with sales activity just slightly off last the average price of an attached property currently at
year’s pace. New walk-up condominiums on the pe- $556,988. The top end of the market has also proven to
ripheral areas of the city are growing increasingly pop- be quite resilient, a fact best illustrated by the recent sale
ular with younger purchasers, with 1,300 sq. ft. units of a property for $19.8 million. Tighter lending criteria
starting at $300,000. Softer condominium prices— has been a challenge for some purchasers this year, but low
down less than one per cent to $227,113 from one year interest rates and an improving economic environment
ago—may serve to bolster activity in the months ahead. should serve to bolster homebuying activity in the months
A brighter economic outlook overall should stimulate ahead. More balanced market conditions exist, giving
healthy homebuying activity. buyers an opportunity to take their time to make decisions
regarding homeownership. Moderation in house price
appreciation may bring out first-time buyers who have
British Columbia been sitting on the fence, waiting for values to decline.
Greater Vancouver Area Victoria
The introduction of a new first-time homebuying income Activity in Victoria’s residential real estate market got
tax credit—combined with new HST/PST transition off to a solid start in 2012, steadily gaining momentum
rules—may serve to prop up housing activity in the as the city edges toward the traditionally busy spring
Greater Vancouver Area, as buyers who have held off market. Home sales have increased seven per cent, rising
finally move forward. The February announcements from 723 units in the first two months of 2011 to
—designed to ease the tax burden on new home buyers 775 year-to-date. Average price remains stable at
in Canada’s most expensive housing market—primarily $469,399, slightly off last year’s figure of $475,640.
apply to the new home market, but momentum will likely The market hovers at the bottom edge of balanced,
spillover onto resale product. Four thousand, one hun- leaning toward buyer’s territory. Recent announce-
dred, and forty-two homes changed hands in the first ments regarding the remediation of the HST issue
two months of the year, down approximately 16 per cent and the introduction of a new first-time homebuyer’s
from year-ago levels. While the vast majority of com- tax credit are expected to invigorate sales further in
munities saw homebuying activity taper, affordable the weeks ahead. The global economic picture is weigh-
neighbourhoods such as Coquitlam, New Westminster, ing less heavily on buying intentions, as a growing
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Market Trends Report Spring 2012 10
11. number of people accept the situation as the ‘new nate well with young buyers. Overall, absorption rates
norm,’ instead gauging their homebuying readiness remain healthy, with new listings down four per cent
by their own financial and personal outlook. Fence from 2011 levels at the end of February. With a va-
sitters who held off in 2011 are now making their way cancy rate that hovers near two per cent, investors also
back into the market, further bolstered by the confi- remain active in the condominium segment, snapping
dence prompted by the Seaspan Marine contract and up smaller, well-priced units. Momentum is also
positive economic spin-off expected locally. First- strong among move-up purchasers, seeking out homes
time buyers remain a driving force, although afford- priced from $650,000 to $800,000 in the Greater
ability continues to be top of mind. Some, impacted Victoria Area. Confidence has spilled over into the
by tighter lending criteria, are looking to suburban upper-end, with resale activity for upscale homes
communities for better value. Multiple offers are continuing at a steady pace. Buyers can expect a solid
occurring on entry-level, single-family homes, priced spring market, with a good selection of inventory and
under $500,000 in outlying areas such as View Royal the luxury of time to make decisions. Sellers will benefit
and Langford. The condominium segment remains from firmer prices, but an ample selection of listings
active as well. A few new projects have been launched, necessitates realistic pricing to generate adequate in-
offering units in the $250,000 to $300,000 range—a terest and a successful sale, as buyers continue to
sweetspot for starter properties—that should reso- overlook overpriced homes.
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Market Trends Report Sprint 2012 11
12. MARKET TRENDS
SPRING 2012
NATIONAL CONTACTS
Christine Martysiewicz RE/MAX Ontario-Atlantic Canada 905-542-2400
Jackie Ostash RE/MAX of Western Canada 250-860-3628
Eva Blay/Charlene McAdam Point Blank Communications 416-781-3911
LOCAL CONTACTS
Market Contact Office Phone
NEWFOUNDLAND
& LABRADOR
St. John’s Jim Burton RE/MAX Plus Realty 709-738-7587
NEW BRUNSWICK
Saint John Gordon Breau RE/MAX Professionals 506-634-8200
NOVA SCOTIA
Halifax-Dartmouth Al Demings RE/MAX Nova 902-468-3400
ONTARIO
London-St. Thomas Roger Guindon RE/MAX Centre City 519-667-1800
Kitchener-Waterloo Adrian Baas RE/MAX Twin City 519-885-0200
Hamilton-Burlington Conrad Zurini RE/MAX Escarpment 905-575-5478
Greater Toronto Area Adrienne Lake RE/MAX Hallmark 416-489-3434
Ottawa Jennifer Skuce RE/MAX Metro-City 613-371-6577
MANITOBA
Winnipeg Cliff King RE/MAX Executive Realty 204-987-9808
SASKATCHEWAN
Regina Rob Nisbett RE/MAX Crown Real Estate 306-789-7666
Saskatoon Larry Stewart RE/MAX Saskatoon 306-242-6000
ALBERTA
Edmonton Bill Briggs RE/MAX Real Estate (Edmonton Central) 780-488-4000
Calgary Lowell Martens RE/MAX Real Estate (Mountain View) 403-247-5171
BRITISH COLUMBIA
Greater Vancouver Area Richard Laurendeau RE/MAX Westcoast 604-273-2828
Victoria Wayne Schrader RE/MAX Camosun 250-744-3301
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Market Trends Report Spring 2012 12