Canadians who have recently bought a home intend to pay off their mortgages as quickly as possible, with many already taking steps towards that goal, according to an annual mortgage consumer survey released by Canada Mortgage and Housing Corp.
One-third of purchasers have made a lump sum mortgage payment to help pay down the principal on their mortgage. While 84 per cent of respondents are making weekly or biweekly payments to accelerate their payments, which shortens their original mortgage amortization period.
The survey also indicated that 84 per cent of respondents felt they had access to suitable housing options, and 88 per cent felt confident they could manage their debt.
The Mortgage Consumer Survey is conducted each fall, and based on a sample of more than 1,400 recent active mortgage consumers, including first time and repeat buyers, along with customers renewing and refinancing their mortgages. Results are considered accurate within 2.6 percentage points 19 times out of 20.
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March 31, 2008
Slower condominium sales may help more people buy real estate
A slowdown in the condominium market this year could help open the door to home ownership for buyers previously sidelined by soaring real estate prices, according to a study by Genworth Financial Canada and the Conference Board of Canada.
"In many cities condominiums are filling a need for relatively affordable housing close to the city core. Since prices for single-detached bungalows, for example, are pushing $500,000 in some Toronto and Calgary neighbourhoods and at least $650,000 in Vancouver, condominiums represent an important first step for many housing market entrants," the report says.
Unlike other Canadian cities in the study, Toronto's condominium market hasn't been driven by purchases made by people 55 and over, the report says.
"Rather the appeal of Toronto's condo market has been its relative affordability compared with single-family and semi-detached homes," the report adds.
Bumpy supply and demand has created big swings in the Toronto market recently, something expected to smooth out by the end of the year.
New apartment starts are expected to rise by 28 per cent in Toronto, the only market seen posting a significant increase after a 30.6 per cent drop in 2007.
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"In many cities condominiums are filling a need for relatively affordable housing close to the city core. Since prices for single-detached bungalows, for example, are pushing $500,000 in some Toronto and Calgary neighbourhoods and at least $650,000 in Vancouver, condominiums represent an important first step for many housing market entrants," the report says.
Unlike other Canadian cities in the study, Toronto's condominium market hasn't been driven by purchases made by people 55 and over, the report says.
"Rather the appeal of Toronto's condo market has been its relative affordability compared with single-family and semi-detached homes," the report adds.
Bumpy supply and demand has created big swings in the Toronto market recently, something expected to smooth out by the end of the year.
New apartment starts are expected to rise by 28 per cent in Toronto, the only market seen posting a significant increase after a 30.6 per cent drop in 2007.
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March 18, 2008
Toronto Real Estate Board Housing Prices Summary-Bradford February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Bradford:
Sales: 35
$Volume: $10,581,300
Average Home Price: $302,232
Average Days on Market: 32
Average List %: 98
Click the links below to see a brief February 2008 for:
Innisfil
East Gwillimbury
Aurora
Newmarket
King
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So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Bradford:
Sales: 35
$Volume: $10,581,300
Average Home Price: $302,232
Average Days on Market: 32
Average List %: 98
Click the links below to see a brief February 2008 for:
Innisfil
East Gwillimbury
Aurora
Newmarket
King
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Toronto Real Estate Board Housing Prices Summary-King February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Keswick/Georgina:
Sales: 8
$Volume: $5,213,400
Average Home Price: $651,675
Average Days on Market: 30
Average List %: 96
Click the links below to see a brief February 2008 for:
Bradford
Innisfil
East Gwillimbury
Keswick/Georgina
Aurora
Newmarket
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So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Keswick/Georgina:
Sales: 8
$Volume: $5,213,400
Average Home Price: $651,675
Average Days on Market: 30
Average List %: 96
Click the links below to see a brief February 2008 for:
Bradford
Innisfil
East Gwillimbury
Keswick/Georgina
Aurora
Newmarket
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Toronto Real Estate Board Housing Prices Summary-Keswick/Georgina February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Keswick/Georgina:
Sales: 54
$Volume: $15,113,975
Average Home Price: $279,888
Average Days on Market: 48
Average List %: 96
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
East Gwillimbury
Aurora
Newmarket
King
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So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Keswick/Georgina:
Sales: 54
$Volume: $15,113,975
Average Home Price: $279,888
Average Days on Market: 48
Average List %: 96
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
East Gwillimbury
Aurora
Newmarket
King
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Toronto Real Estate Board Housing Prices Summary-Innisfil February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Innisfil:
Sales: 30
$Volume: $6,827,900
Average Home Price: $227,597
Average Days on Market: 53
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
East Gwillimbury
Aurora
Newmarket
King
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So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Innisfil:
Sales: 30
$Volume: $6,827,900
Average Home Price: $227,597
Average Days on Market: 53
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
East Gwillimbury
Aurora
Newmarket
King
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
Toronto Real Estate Board Housing Prices Summary-East Gwillimbury February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for East Gwillimbury:
Sales: 17
$Volume: $6,336,000
Average Home Price: $372,706
Average Days on Market: 47
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
Aurora
Newmarket
King
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So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for East Gwillimbury:
Sales: 17
$Volume: $6,336,000
Average Home Price: $372,706
Average Days on Market: 47
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
Aurora
Newmarket
King
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
Toronto Real Estate Board Housing Prices Summary-Aurora February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Aurora:
Sales: 67
$Volume: $26,395,027
Average Home Price: $393,956
Average Days on Market: 25
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
East Gwillimbury
Keswick/Georgina
King
Newmarket
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Aurora:
Sales: 67
$Volume: $26,395,027
Average Home Price: $393,956
Average Days on Market: 25
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
East Gwillimbury
Keswick/Georgina
King
Newmarket
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
Toronto Real Estate Board Housing Prices Summary-Newmarket February 2008
While snow fell in almost record amounts in Toronto, a respectable 6,015 sales took place in February 2008. While, sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase as Spring rolls in.
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Newmarket:
Sales: 84
$Volume: $28,919,690
Average Home Price: $344,282
Average Days on Market: 29
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
East Gwillimbury
Keswick/Georgina
King
Aurora
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
So how many of those sales took place in the Northern districts? A total of 1,185 sales were reported in 23 Northern districts; and averaged a selling price of $409,155.
Here's a look at the February 2008 statistics for Newmarket:
Sales: 84
$Volume: $28,919,690
Average Home Price: $344,282
Average Days on Market: 29
Average List %: 98
Click the links below to see a brief February 2008 summary for:
Bradford
Innisfil
East Gwillimbury
Keswick/Georgina
King
Aurora
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
March 16, 2008
Bad weather impacts national real estate sales
MLS resale housing activity declined in February 2008 from January levels, according to statistics released by The Canadian Real Estate Association (CREA).
Seasonally adjusted MLS sales activity in Canada's major markets edged down 6.4 per cent month-over-month to 26,588 units in February. The monthly decline largely reflected fewer sales in Toronto, which accounts for aout one-quarter of the major market total. Activity also softened on a month-over-month basis in Edmonton, Vancouver, Calgary, Saskatoon, and Newfoundland & Labrador.
"Snowfall in Toronto made it tough to show prospective buyers, and tough to process a listing,: said CREA President Ann Bosley. "It was one of the toughtest months ever weatherwise for REALTORS in Toronto."
Click here to read the rest of this article.
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Seasonally adjusted MLS sales activity in Canada's major markets edged down 6.4 per cent month-over-month to 26,588 units in February. The monthly decline largely reflected fewer sales in Toronto, which accounts for aout one-quarter of the major market total. Activity also softened on a month-over-month basis in Edmonton, Vancouver, Calgary, Saskatoon, and Newfoundland & Labrador.
"Snowfall in Toronto made it tough to show prospective buyers, and tough to process a listing,: said CREA President Ann Bosley. "It was one of the toughtest months ever weatherwise for REALTORS in Toronto."
Click here to read the rest of this article.
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
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