Monthly Archives: June, 2013

Coady Ave: 3 bedroom Leslieville semi (SOLD)

June 17th, 2013 Posted by Leslieville, SOLD!! No Comment yet

Leslieville is one of Toronto’s ‘hottest’ neighbourhoods – and has been for several years. It’s no mystery why. Located just east of downtown, it has the feel of a small, family-friendly community. Just ten years ago that part of Queen St E was a far cry from the bustling neighbourhood it is today. Some of the shops and restaurants have been there for years, but the Leslieville renaissance has been characterized by an explosion of neat new businesses that both attract day traffic, and make the area super convenient for local residents.

Coady Ave runs north from Queen St, just west of Jones. It’s a leafy, tree-lined street thick with solid brick semis and some detached houses, many of which have lane parking. Number 69 has been extensively renovated since 2004. The main floor was basically ripped out and re-built. Flooring, walls and and a new kitchen were installed. Upstairs, the bathroom was expanded (you have to see it!). The electrical panel and wiring were upgraded, and the back yard was re-landscaped to accommodate one car parking off the lane. Over the years, most of the house has been improved. (A full list of improvements is available.)

With parking, and located just half a block from Queen St E, this heart-of-Leslieville semi is perfect for anybody (singles, couples and/or families) wanting to live in an active, friendly part of town.

** SOLD **

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April-May 2013 Market Review

June 7th, 2013 Posted by Market Review No Comment yet

This spring has been super busy for me, so I have been remiss in my reporting duties. I am (once again) combining two months into one post.

April

TREB reported 9,811 sales in April, 2013, which was a slight dip in volume of 2% compared to April, 2012. At the same time, the average sale price was up 2%, to $526,335. I call that a ‘flat’ market – edging up only about the same amount as inflation, thus keeping home prices affordable. TREB’s apples-to-apples profile, the HPI Composite Benchmark Price (which makes corrections for different home types, and smooths the average) was up by 2.9 – above inflation, but in line with wage growth. Again, homes in Toronto are staying affordable.

Interestingly, TREB also noted (as I have recently) that the condo segment is showing signs of strength. The volume of sales was down a touch in April (-1.3%), but the average selling price was up 5.6%, which I consider to be significant – but also reasonable. So, the sky remains firmly in place. 😉

The number of new listings increased by 10.9%, and total active listings on the TREB MLS were up 13.5% over 2012. This is good news for buyers, as it has been the frustratingly short supply of good houses that has caused ‘bidding wars’ and price escalation over the last few years.

May

May 2013 saw 10,182 sales which, although 3.4% fewer sales than 2012, is still a very impressive number. The average price was $542,174 – up by 5.4% over last year. I like a 5-7% annual increase: it’s above inflation, so it indicates real capital appreciation, but it doesn’t cause price escalation out of buyers’ ability to keep up. So, we’re in my happy zone. 🙂

The volume of condo sales was down 6.4% in the 416, but the average price edged up by just 1.2% (again, I’d call that ‘flat’: not up, not down), to $372,768. The HPI was up by 2.8%, which is in line with April’s 2.9.

My Thoughts…

Overall, we are seeing ongoing stability in the Toronto real estate market. I have noticed a slight loosening up – e.g. less intense competition – over the last couple of months, which is most likely a reflection of the slightly increased supply of houses for sale. After a decent supply increase in April, May showed 0.7% more new listings (over May 2012, not over the previous month), and a 10.8% increase in total listings. to 22,677 ‘for sales’. As I noted in this blog post, that’s moving into line with the kind of supply we were used to during the busy markets (spring and fall) before the recession.  If we can maintain a stable supply of houses on the market, the ‘log jam’ that I have long lamented may finally ease up, which would enhance the long-term sustainability of the market.

 

Equinox Holistic Alternative School Outdoor Kindergarten Fundraiser

June 5th, 2013 Posted by EHAS, Fundraising No Comment yet

Two years ago I initiated a fundraiser for Equinox Holistic Alternative School, whereby I committed to contributing $1000 from every sale I complete with a member of that community. The same applies to new clients referred from members of the community. Last school year that generated $3000, and this year it will generate at least $5000. The money goes to the school council, which distributes it to support various activities at the school (e.g. outdoor education, art and music supplies, class trips, etc.).

Equinox is unique for (among other things) its outdoor Kindergarten program. The goal is to have the little kids outside all day, every day (with obvious exceptions during extreme weather, and for certain indoor activities). The ‘outdoor classroom’ offers some grassy areas, and some shade, but was not intended for continuous use. The grass has been trampled out of existence in some parts, and about half the area is hard-surfaced (concrete or asphalt). Overall, it needs an upgrade. That’s why some enterprising parents have formed a committee, sketched out a plan to renovate the space, and begun a fundraising effort. The whole project is really quite impressive, and is well described in this video:

I participate in fundraising activities throughout the year. For example, the Canadian Breast Cancer Foundation and the Children’s Miracle Network each get a small portion of every sale that I do. I also support the TDSB breakfast program (through a monthly donation to the Toronto Foundation for Student Success), and I usually participate in at least one other significant fundraiser each year – and ask my clients and friends for their support.

This year I’m going to make the Equinox Outdoor Kindergarten Project project my main focus, and I’m asking you to contribute. The project (removing concrete, improving drainage, adding infrastructure and equipment) is going to cost tens of thousands of dollars and take a couple of years to complete. It is crucial that the initial goal of $25,000 be met as soon as possible so that planning costs can be covered and work begin ASAP. The committee has set up an Indigogo crowd-sourcing donation page, so you can donate online right now! 😉

Equinox is a special school, and the outdoor Kindergarten program is unique. Your support will go a long way towards helping the school expand upon a really great idea – one that they hope can one day be replicated in other schools across Toronto. Your donation – of any amount – well be great appreciated!

** To learn more about Equinox visit the school’s web site. You can also feel free to contact the administration if you have any questions.