Monthly Archives: June, 2015

May 2015 Market Review

June 8th, 2015 Posted by Market Review No Comment yet

May was another busy month in the Toronto real estate market. Sales volume was up 6.3% to 11,706 transactions (over 11,013 in May, 2014). At the same time, new listings slipped by 0.8%, and total active listings shrank by 10.1% to 18,585, down from 20,679 last May. This familiar combination resulted in another increase in the average sale price. The May average (for all types) of $649,599 was up 11% year-over-year.

The MLS® Home Price Index (HPI) Composite Benchmark, which does a more detailed comparison (e.g. adjusting for number of bedrooms, finished vs. unfinished basement, etc.) was up a slightly more moderate 8.9%.

Of on-going interest to me (if only because it serves to prove the doom-sayers wrong) the condo market in the 416 saw sales increase by 12.9%, and average price increase by 5.5%, to $422,947. That market continues to appeal to buyers, who by now realize that it can be a competitive segment, too.

As has been the case for several years now, the main issue is that lack of supply. There are plenty of buyers. The economy is stable, and likely improving: it cranked out about 59,000 jobs in May, keeping the unemployment rate at 6.8%. (For perspective, the unemployment rate in May, 1996 when I graduated from U of T was 9.7%! Things today look downright cheery by comparison.) Also, with rates low and staying that way for some time to come – likely a couple of years – purchasing power among buyers will remain strong. That will continue to drive sales – meaning that a buy now is better than a buy in 6-12 months….

Blood drive in honour of Ollie

June 5th, 2015 Posted by Uncategorized No Comment yet

In December of 2013, Ollie (now 7 years old) was diagnosed with Juvenile Myelomonocytic Leukemia (JMML).  A big part of Ollie’s treatment these days involves blood (and platelet) transfusions. The blood supply system always needs more donors, so I’m organizing a blood drive, and I’m challenging my friends, family and clients to get out and give a pint!

In fact, I’m offering a pint for a pint: you go to the Manulife Centre and donate a pint of blood, then meet up afterwards at Scallywags for food and beer. The pub is providing the grub, and Creemore is going to kick in some beer. Sounds great, eh? Here are the details:

Thursday, June 18th any time between 1pm and 5pm (contact me to schedule your appointment). Alternate day is Wednesday the 17th, 10am-2pm.

Manulife Centre 55: Bloor Street West – 2nd Floor by the Movie Theatre.

Scallywags – any time after 6:30pm on Thursday (even if you donate on Wednesday).

I’ve been a blood donor for a couple of years. It’s easy – and after your donation you can eat cookies and drink juice in the recovery area. About five minutes later you won’t feel like you just gave away 10% of your blood. Then, we’ll go eat real food and drink some beer. 🙂

There’s FREE PARKING at the Manulife Centre for donors, and transportation is available during the day if you need a ride from/to work. I’m trying to make this easy, so don’t hesitate to ask for a lift.

Pick your time and RSVP to me ASAP. I have to book the appointments with Canadian Blood Services and co-ordinate with Scallywags regarding numbers. Also, please spread the word. The more, the merrier!

FYI, there are some basic eligibility rules (mostly around travel and recent tattoos/piercings), so read the Fact Sheet at the Canadian Blood Services web site. Call/email me if you have any questions.