April 2008: Condo Figures

Ok so we know that April sales in GTA took a 7.3% dip compared to last April.  But let’s take a closer look at the year-over-year statistics for the districts we’re interested in before we claim the sky is falling.

* numbers used are condo apartments only

C01: sales decreased 1% and average sales price increased 10.3%

C08: sales plummeted 35.9% and average sales price soared 20.2%

C14: sales decreased 19.3% and average sales price increased 8.2%

Swirsky headed to the Chicago Bulls

A very sad day for Toronto Raptors’ fans as Chuck Swirsky is heading over to Chicago to announce games for the Bulls.  A true professional in sports media that will be sorrowly missed.  Honestly, have you heard some of the other teams’ broadcasters do play-by-play?  It’s painful. 

Thanks Chuck for the unmatched passion you brought to Raptor fans!

Here’s his blog that I read on the consistent basis: http://www.nba.com/raptors/news/swirsky.html

Article by Doug Smith of The Toronto Star:

The voice of the Raptors is going silent in Toronto.

Chuck Swirsky, whose energetic broadcasting style won him legions of fans over a decade here, is leaving to become the radio play-by-play voice of the Chicago Bulls.

“It’s in the best interests of my family at this point,” Swirsky said this afternoon.

A tireless promoter of the sport and the team, the veteran broadcaster will continue as an afternoon host on the The FAN590 radio station “for the foreseeable future” but will be in Chicago at the start of the next NBA season.

Swirsky came to Toronto a decade ago to take over the play-by-play job with a young franchise trying to establish itself in a hockey-dominated market. He became an immediate hit with his enthusiasm and willingness to interact with fans.

He’s written a blog on the team’s website, makes public appearances whenever he’s asked and has become as synonymous with team as just about any player.

Swirsky, who lives with his wife and three children in Burlington, became a Canadian citizen earlier this season and was touted as Chuck The Canuck by the team.

Going back to Chicago is returning Swirsky to his broadcasting roots. He worked in that market for 15 years, serving as a host on the networks of the NFL Bears and MLB Cubs. He also did play-by-play at DePaul University for a decade.

“Chuck Swirsky has been a terrific play-by-play broadcaster for the Raptors, but it was his tireless dedication to the community and his direct relationship with our fans that left an indelible mark on southern Ontario and with Raptors fans across Canada,” Tom Anselmi, the chief operating officer of Maple Leaf Sports said in a release.

“There are lots of good play-by-play guys out there, but only one Chuck Swirsky. He is a big loss to our organization. His passion for basketball and passion for our fans, makes him one of the game’s great ambassadors. He’s leaving for the right reasons, and that’s to place the needs of his family at the top of his priority list. He leaves with our support, our deepest appreciation and best wishes for the future.”

April 2008: Sales Moderate, Prices Up

April statistics show that 8,762 houses sold in the Greater Toronto Area. “The market continues to experience a supply and demand situation and to-date it remains a sellers market,” said TREB President Maureen O’Neill.

The GTA market was down 7.3 per cent from last April’s record 9,452 transactions. (ed: I like to classify 2007 as an anomaly.  To contrast the numbers with previous years - an increase of 4.8 per cent from April 2006 and a decrease of 0.8 percent from April 2005).  However, it is showing signs for a healthy 2008 compared to the diminished activity during the first quarter of 2008.

The sales pace however, did not take place evenly throughout the GTA. With 3,467 transactions in the City of Toronto, sales were down 10 per cent from a year ago. The 905 region was down five per cent from April 2007 sales, with 5,295 homes changing hands.

Prices continued to appreciate last month, to a GTA average of $398,687, up eight per cent from last April’s $367,968. The average price in the City of Toronto was $446,781, up six per cent from April 2007. The 905 region’s average price of $367,196 increased five per cent from a year ago.

“For more than a decade, real estate has served as the economy’s engine,” said Ms. O’Neill. “It’s encouraging to see that consumers are continuing to put their faith in real estate as an excellent longterm investment.”

Breaking down the total, 3,398 sales were reported in TREB’s 28 West districts and averaged $372,575; 1,531 sales were reported in the 14 Central districts and averaged $539,133; 1,768 sales were reported in the 23 North districts and averaged $429,262; and 2,065 sales were reported in TREB’s 21 East districts and averaged $311,350.

Download full report: Market Watch April 2008

Toronto Real Estate Board says GTA resale housing market still down

Resale home transactions in the Greater Toronto Area continued at a moderate pace during the first half of March, Toronto Real Estate Board President Maureen O’Neill announced today.

With 3,183 transactions to mid-month, sales in the GTA and in Toronto declined 14 per cent and 18 per cent respectively compared to the same timeframe a year ago.

“It’s important to recognize that we have endured the snowiest winter since 1939 and this has undoubtedly affected the market,” said Ms. O’Neill. “The storm that pounded the GTA during the second weekend of March likely had more people focused on shoveling sidewalks than house hunting.”

Despite moderate activity, the value of homes in our city continues to appreciate. At an average of $385,405 in the GTA and $409,116 in Toronto, prices have increased five and four per cent respectively compared to a year ago.

As well, some neighbourhoods experienced an increase in activity during the first half of March.

At the North end of the Greater Toronto Area, Georgina (N17) experienced a 39 per cent increase in sales during the first half of March, driven mainly by detached home transactions.The Agincourt area of Scarborough (E07) experienced a 12 per cent overall increase in sales compared to a year ago based primarily on strong condominium apartment sales.

Strong condominium apartment sales also allowed the Weston area in York (W04) to hold strong, with a 28 per cent overall increase compared to a year ago.

Toronto’s Downtown core (C01) has also experienced healthy sales activity so far this month, due to strong condominium apartment sales as well. Overall sales in this area were up 11 per cent compared to a year ago.

“Condominium apartments have weathered the winter best so far this year, with 733 sales to date but we remain confident that once the snow has melted, we will see a very active spring market overall,” said Ms. O’Neill. “The land transfer tax in Toronto concerns us and we continue to keep a watchful eye on how this tax plays out in the market.”

Pet Peeve of the Month

The answer is … drum roll please … Listing agents who can’t correctly differentiate between a bachelor pad and a 1-bedroom. 

Seriously, who are you trying to fool or is it simply incompetence?  What a time waster.  Okay rant over!

The Real Meaning of “Hot New Listings”

As you navigate through the hundreds of real estate websites on the Internet, you’ll encounter a captivating feature that’s usually bolded, blinking or screaming out at you.  Yes, it’s the important service that enables buyers to receive the latest and greatest listings daily.  “Hot New Listings”, “Automatic Daily Listings Notifier”, “Your Dream Home Notifier”, etc. … you get the picture.  The titles are different but it’s the same service being offered.  From here on in, I’ll refer to this empowering service as the “notifier”.

So what are the benefits of this to buyers? Well, here are some.

• Beat out your competition or at least level the playing field.  Listings on mls.ca are around 2 days old and often the best properties are sold within this time.  To receive these new listings, you’ll need to have a real estate agent send them to you or have your information placed in the notifier.  Being equipped with this allows you to beat out buyers on new listings and to be on a level playing field with the serious ones. 
• First to arrive means first to bargain for the lowest price.  Often, I’ve been able to bring my buyers to listings that just came to market that day.  They immediately placed their offer, negotiated, and won them below asking.  A few days afterwards, I would receive word from the listing agent on the number of inquiries on the sold property.  Fortunately, these buyers were too late and were given no chance to compete with us on the property.
• We all save time.  If the listing doesn’t interest you, we don’t go to see it.

There can’t be all advantages?!  You’re absolutely right.  The major disadvantage is that the notifier doesn’t send out listings in realtime.  All the listings that meet your criteria on that day are pulled from the system overnight and emailed to you.  Do you see the problem?

The problem is that you’re looking at yesterday’s listings.  Considering how competitive the market is right now, that’s several hours too much!  If you had seen that one special listing the day it came on the market, you would’ve had the opportunity to place an offer immediately or have a night’s rest to rationally consider whether to place an offer or not. 

There’s currently no system in place to allow for realtime listings, but what if you could receive realtime-like listings?  Sometimes as quickly as 5 minutes!  If you are a motivated buyer ready to move very quickly then this competitive advantage is something you need in this market.  If you’re interested, contact me at info@condolicious.com.

Sales Break 6,000 In Spite Of Winter Weather

While snow fell in almost record amounts, Toronto Real Estate Board Members recorded a respectable 6,015 sales during the month of February, TREB President Maureen O’Neill announced today.

“While sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase substantially as the GTA eases into Spring.”

Prices rose in February, with the average climbing to $382,048, up four per cent from the $367,687 recorded in February of last year. Days-on-Market stood at 30 days, and the list-to-sale price ratio was 99 per cent.

Activity within the City of Toronto generally matched that of the broader GTA. Sales moderated 14 per cent in the city to 2,310 from last year’s figure of 2,697. Prices rose two per cent to $424,235.

Breaking down the total, 2,358 sales were reported in TREB’s 28 West districts and averaged $357,884; 1,017 sales were reported in the 14 Central districts and averaged $522,480; 1,185 sales were reported in the 23 North districts and averaged $409,155; and 1,455 sales were reported in TREB’s 21 East districts and averaged $300,975.

Download full report here.

Looking solely at the condo apartments in Downtown, it’s interesting to note the statistics on the year-over-year basis.  In C01, sales were down 19.7%, but average sales price increased 9.7%.  In C08, sales were down 7%, but average sales price rose a staggering 24.6%!  The average and median sales price in C08 are almost on par with C01.  What a difference a year makes!

Aura at College Park Part 3 - Features & Finishes

TORONTO’S ARCHITECTURAL LANDMARK

• Canada’s tallest condominium offers unparalleled panoramic views of the entire city
• Beautifully designed and appointed, the stunning lobby overlooks a 3 acre park
• 24-hour concierge and security service controlling building access and surveillance of the building
• Elegant finishing details in corridors and in entrance doorways to each suite
• Individually controlled in-suite heat pump system offering on-demand central heating and air conditioning
• Individual suite metering for hydro consumption (subject to Hydro protocols)
• Architecturally designed, expansive double-glazed windows throughout exterior and pre-finished aluminum window frames
• Inviting landscaped entrance and welcoming arrival area
• Bicycle storage room with convenient air pump
• Three beautifully appointed suites for your out-of-town guests
• Lush, landscaped roof top garden over the podium
• State-of-the-art, high speed elevators
• Controlled elevator access to individual floors where applicable
• World class recreational centre with state-of-the-art equipment
• Sprinkler system in building to be one of the first in Ontario

EXTRAORDINARY LIVING SPACE FLOORS 5 - 55

• Private balconies and terraces with breathtaking views as per plan
• All ceilings to be white stippled, except in kitchen, bathrooms and laundry/storage area (where applicable)
• Kitchen, laundry area and bathroom ceilings are to be smooth, painted flat white
• Interior walls painted white in quality latex paint in all rooms, woodwork and trim in semi-gloss
• Sculpted 4″ baseboards and 2″ matching trim throughout
• Contemporary style swing interior doors with metal lever hardware
• Personally encoded in-suite intrusion alarm monitored by concierge
• In-suite smoke and heat detector and emergency button with intrusion alarm
• Decora switches and receptacles
• Capped ceiling outlet in living room, dining room and den

FOYER FEATURES

• Solid core suite entry door with elegant brushed metal lever hardware
• Mirrored sliding closet door or wood swing closet door as per plan

DREAM KITCHENS FLOORS 5 - 55

• Contemporary design highlights these unique gourmet kitchens
• Choose from sophisticated cabinetry packages, in a range of appealing colours from builder’s samples
• Sleek, stainless steel refrigerator with tempered glass front panel, stainless steel self cleaning oven, dishwasher and space-maker microwave
• Countertops and backsplash are a precision crafted, durable solid surface selected from an expressive grouping of samples and colours
• Halogen track lighting
• Durable stainless steel sink complemented by a single lever chrome faucet and integrated drain board

LUXURIOUS BATHROOMS FLOORS 5 - 55

• Contemporary lines accent the unique vanity design for the main or ensuite bathroom. The builders package includes a range of fashionable vanity colours to choose from.
• Relaxing deep soaker tub in ensuite or main bathroom (as per plan)
• Overmount sink in main or ensuite bathroom
• Fashionable single lever faucets on all vanity sinks
• Full height porcelain and ceramic tiles create a gracious look on bathtub walls in main or ensuite bathroom. Builder’s packages include exciting samples and colour choices.
• Porcelain tile bathtub skirt in main or ensuite bathroom. Fashionable samples and colours from builder’s packages
• Porcelain tile flooring in main or ensuite bathroom. Contemporary colours and samples from builder’s packages
• Ceramic tile flooring in second bathroom. Builder’s packages provide a selection of samples and colour choices
• Separate shower stall features frameless glass door as per plan
• Exterior vented exhaust fan in all bathrooms
• Privacy locks on all bathroom doors
• Pressure balanced tub and shower faucets provide total temperature control
• Designer bathroom fixtures complete the look
• Dual flush toilet in main or ensuite bathroom

BEDROOM RETREATS FLOORS 5 - 55

• Mirrored sliding closet doors, or wood swing closet doors as per plan
• Easy sliding, glass panel, bedroom doors for a more spacious, open concept layout as per plan

SOPHISTICATED FLOOR COVERINGS FLOORS 5 - 55

• Engineered wood flooring in all rooms except bathroom and laundry rooms. The builder’s package includes enough samples and colours to express your lifestyle

LAUNDRY FLOORS 5 - 55

• Easy care, white ceramic tile flooring in laundry closet
• Convenient front loading stacked washer and dryer combination

SAFE AND SECURE PARKING GARAGE

• Residents’ underground parking accessed via a secure garage door operated by personal remote control
• The garage is painted white and brightly lit for convenience and security
• The garage is well ventilated and protected by fire sprinklers for added safety and protection
• Strategically located parabolic mirrors provide visibility to assist traffic flow
• Closed circuit cameras with two-way voice communication monitored by 24-hour concierge are provided in the garage for surveillance and access monitoring

VIGILANT ACCESS CONTROL

• Uniformed concierge and security stationed in the main lobby and on duty lobby 24/7
• On site management
• State-of-the-art enterphone system in the lobby vestibule allows visitors to contact residents directly to gain admittance complete with in-suite monitoring facility through TV cable
• Personally encoded suite security access system monitored by the 24-hour concierge
• Hand held personal emergency alert device to activate alarm
• Exterior doors from common areas and amenities monitored at concierge desk
• Underground security system complete with security keyfob

ELECTRICAL FEATURES AND INTERCONNECTIVITY

• 100 amp electrical service with circuit breakers and copper wiring throughout suite (110/208 volt)
• Pre-wired cable TV outlets in living/dining, kitchen, bedrooms and den if applicable
• Pre-wired telephone jacks in living/dining, kitchen, bedrooms and den if applicable
• Wiring for high speed Internet
• All balconies and terraces to have electrical outlets.

Aura at College Park Part 2 - “It has begun”

That’s right.  The inevitable line to the sales office has begun.  Remember folks the numbers are handed out on March 6th … that’s 13 days away!  This smashes the 9-day record held by the 1 Bloor East.  When I drove by the area this morning, there was line of 7 or so empty lawn chairs.  One was in his car warming up and the rest took shelter elsewhere.  For those not sure what this is all about, basically on Thursday March 6 priority numbers will be handed to agents on the first come, first serve basis.  On Saturday (the broker event), they’ll return to the sales office to purchase according to priority number order.  I’ve lined up overnight before and it wasn’t pleasant.  So I can understand 2-3 days but two weeks in a line is just simply crazy!

Aura at College Park Part 1

Over the next few days, I’ll be posting ample content on Aura at College Park.  You’ll find the floor plans, information on features and finishes, special dates, photos, etc. all provided to you without signing up.  You’ll save time and resources from downloading the large pdf files just to view the floor plans.  They’ll be laid out in our typical Condolicious format.

Aside from the subpar splashpage (see), everything is looking great heading into the launch date.  It’s certainly going to be a phenomenal “building in the sky”!  If you may be interested in this project … even remotely … please register at info@condolicious.com and you’ll be well taken care of.

Here’s the first tidbit and more to come:

• Canderel Stoneridge is one of the largest condominium builders in Toronto with over 2000 condominium units built or under construction and a further 1000 in the planning stages.
• The Residences of College Park Phase I is now completed and registered. Phase II has already started to occupy.
• Both buildings showcase the luxury appointments signature to a Canderel Stoneridge building.
• AURA AT COLLEGE PARK is proposed to be one of the tallest residential towers in Canada.
• Modern glass building will have stunning views of the city, lake and skyline.
• Podium level will consist of top name retailers in North America, making the building one of the few mixed use buildings in the city.
• Direct underground access to the subway means owners never have to step outside to reach the transit station.
• A world class recreation centre is planned for the building that encompasses some of the most state of the art facilities seen in a condominium in Toronto.
• Environmentally conscious building means a sustainable building for the 21st century.
• Suite finishes will be of the highest level incorporating the finest natural stone and woods.