Monthly Archives: October, 2008

October 2008 eNewsletter

October 17th, 2008 Posted by eNewsletter, Market Commentary No Comment yet

Happy Fall! You may recall that for the last few years I have supported a local school by buying pumpkins at their fall fundraiser. Once again I’ll be spending a few days delivering those pumpkins to clients and friends! If you would like one (they’re biggies!) please call or email me and I’ll drop it off one day next week. Happy Halloween!!

Market Slow, Hallmark Busy: Hallmark volume up 7% amid market decline

Solid job growth and continued low interest rates have been swamped by fear of the “market meltdown” happening in the financial world. Both volume and prices declined in Toronto in September, and have continued that direction in the first half of October. However, RE/MAX Hallmark, as the leading real estate brand in Toronto, experienced a significant volume increase of 7% in September. As the market gets more difficult, home owners and buyers are turning to agents they can trust to get the job done!

By the way, it’s no surprise to me that the price declines are far steeper in Toronto than in the GTA outside of T.O. In September: Toronto -6%, GTA -1%; so far in October: Toronto -21%, GTA -15%. Although there’s not yet enough data to be sure, my own theory is that (amid the general decline) we are starting to see the effects of higher taxes in Toronto. Stay tuned for on-going reporting on that!

43 Glenmore Rd. – 3 bedroom semi

This is just a reminder that 43 Glenmore Rd. is still on the market. We just dropped the price to $389,900, which is a great price for a large 3 bedroom semi with parking in the UpperBeach (even in this market)! If you know anybody who might be interested please let me know.