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We at GREENSIDE are YOUR BEST REAL ESTATE RESOURCE. Our website has been put together with you in mind. While you are here we know that you will find a great deal of useful information. If there is anything you cannot find, please call or email us and we'll do our best to get you what you need.

Anna Teskey, Broker of Record

Steve Bogatek, Sales Representative/President                                                                                                                                       

GREENSIDE REAL ESTATE MARKET UPDATE

RESIDENTIAL MARKET: 

Healthy Fall Market Continues in November

December 6, 2011 -- Greater Toronto REALTORS® reported 7,092 residential transactions through the TorontoMLS® system in November – up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year.

“We have seen strong annual sales growth through the 2011 fall market. The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” said Toronto Real Estate Board (TREB) President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.”

The average price for November transactions was $480,421, representing an increase of almost 10 per cent in comparison to $437,494 in November 2010.

"Despite strong price growth this year, the housing market remains affordable in the GTA," said Jason Mercer, TREB’s Senior Manager of Market Analysis. "The correct method of assessing affordability is to consider the share of the average household’s
income that is dedicated to mortgage principal and interest, property taxes and utilities. Currently, this share remains in line with generally accepted lending guidelines. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a more moderate pace.

COMMERCIAL MARKET:  Fewer Commercial Real Estate Transactions in Q3

October 5, 2011 -- Toronto Real Estate Board (TREB) Commercial Division Members leased almost 3.6 million square feet of commercial space through the TorontoMLS® system in the third quarter of 2011, representing a decline of almost 50 per cent in comparison to almost 6.6 million square feet leased during the same period in 2010. Industrial space accounted for over 78 per cent of the total space leased. The average lease rate for industrial transactions completed on a per square foot net basis and for which pricing was disclosed was $4.83 – down 28 per cent compared to an average of $6.75 in the third quarter of 2010.

"The outlook for the Canadian economy became less clear during the spring and summer of this year. The dip in leasing transactions in the third quarter suggests that firms were viewing investment and expansion with more caution compared to the summer of 2010," said TREB Commercial Division Chair Larry Purchase.

In the third quarter, 184 commercial properties were sold through the TorontoMLS® system. This result was 35 per cent lower than the 285 transactions recorded in the third quarter of 2010. The split in sales between industrial and other commercial types was more balanced compared to the leasing market. Industrial sales accounted for 60 per cent of total transactions. The average selling price for industrial transactions with pricing disclosed was $75.42 per square foot – up almost 22 per cent compared to an average of $61.88 in the third quarter of 2010. The average price per square foot for other commercial transactions with pricing disclosed was $196.11 – up 21 per cent compared to an average of $162 per square foot in the third quarter of 2010.

"While some firms will continue to approach real estate investments with some degree of caution in the near term, the consensus view is that Canadian economic growth will resume in the second half of 2011 and through 2012. Once the economic situation becomes clearer, GTA firms, especially those focused on exporting goods and services, will be more likely to consider new investment in real estate," Purchase added.