FEATURED PROPERTY: 510 DOUGLAS AVENUE
MARKET COMMENTARY   |   MARCH 2018

The 2018 GTA real estate market continued its slow start in February with 5,175 sales being reported by the Toronto Real Estate Board (TREB). This is down 34.9% from last year’s record, and represents the 9th lowest total for a February in the past decade. As sellers continue to come to terms with the impacts of the Fair Housing Plan,  and as buyers navigate newly implemented mortgage stress tests and higher borrowing costs, TREB expects this pace to continue in the short-term.
 
Sales volume was down for all major housing types in both the 416 and 905, with single detached showing the largest decline, down 41.2% year-over-year. Average sales prices followed suit, with the exception of condo apartments which were up 10.1% year-over-year to $529,782. Furthermore, though down 2.9% as a category, the average price of townhouses in the 416 was up 15.5% from last February to $776,642,
as buyers continue to seek out modestly priced housing options in the city. The average sales price for single detached homes in Toronto dropped 18.6% to $1,282,240.
 
While average price points are part of the story, they are not a true indicator of property value. For a more accurate gauge on changes to real estate value, TREB offers the MLS Home Price Index (HPI) Composite Benchmark, which underscores changes in the value of comparable home sales. For February, the HPI was up 3.2% for the GTA and up 9.5% for the City of Toronto, driven largely by inflation in the condo sector. Within the 416, the HPI was down 1.5% for detached homes, but up 2.4% for semis, up 13.1% for towns, and up 20.9% for condos. This discrepancy between the HPI and the average sales price suggests that in 2018, we are seeing a higher percentage of more modestly priced homes being sold than in the previous year, as opposed to a decrease in real property value. 
 

SOURCED FROM TREB FEBRUARY 2018 FOR CENTRAL TORONTO. FOR STATISTICAL USE ONLY.

 
DÉCOR TRENDS

QUICK TIPS FOR REFRESHING YOUR HOME THIS SPRING

By Tara Lindsay, Decorium

Spring is an ideal time to declutter and redecorate. This year, you can set the tone by creating a fresh, light and airy feel to the space, using organic textures such as cotton, lightweight knit, linen, bamboo, hemp and jute. The key is to combine these textures with fresh patterns and colours, such as floral prints combined with soft lavender, radiant chartreuse, shades of green and blue, blush, rosy pink or Sherwin William’s “Colour of 2018” – Oceanside (Sw-6496). But, how can we best incorporate these trends into our homes and on budget?

The simplest approach to freshening up your living space would be to swap out your toss pillows. Just put them away or move them to your basement and replace them with something that features your favourite on-trend colour and print. Updating your pillows will give your sofa a whole new feel.

Another easy tip would be to dress your walls. Since artwork is so personal, look for something that speaks to your personality, rather than what’s on trend. Oversized artwork really creates a statement and becomes a focal point in the room. This is a quick an easy way to create a sense of ‘new’ to the space.

READ MORE...
 
WHAT'S HAPPENING
MARCH 2018


MARCH 9-18
TIFF KIDS INTERNATIONAL FILM FESTIVAL
A movie festival just for kids, whether they're a budding filmmaker or a movie fan.  TIFF Bell Lightbox

MARCH 11
ST PATRICK'S DAY PARADE
Get your green on! This annual event is back with lots of Irish cheer in celebration of Ireland's patron saint. Starts at noon on the corner of Bloor & St George.

MARCH 16-18
COMICON
This is the time for celebs and fans to come together in celebration of all things comics. Metro Toronto Convention Centre

MARCH 29
TORONTO BLUE JAYS HOME OPENER
Let's go Blue Jays! The season starts off as they go head to head with the New York Yankees. Rogers Centre
 

#1 Independent Brokerage in Toronto*

416.441.2888
 www.harveykalles.com  | info@harveykalles.com

*Dollar value of all MLS listings sold (source: IMS 2017)
Over $2.92 billion in sales volume, 2017
 

OFFICES

CENTRAL 2145 Avenue Road, Toronto

MIDTOWN 532 Eglinton Avenue West, Toronto

BLOOR WEST 2316 Bloor Street West, Toronto

MUSKOKA 1A Lee Valley Drive #6, Port Carling

 
At Harvey Kalles Real Estate, we appreciate that real estate is about so much more than the bricks and mortar that make up our houses. It’s also about the neighbourhoods within which we live, the outdoor spaces we enjoy, the cultural centres we visit, the service providers we rely upon, and the heritage we preserve.

To help celebrate our diverse and dynamic community, we are proud to bring you THE COLLECTION by Harvey Kalles Real Estate. With an editorial lineup that regularly shines a light on the cultural centres, interest groups, entrepreneurs and personalities that make Greater Toronto such a dynamic region, every member of the family is certain to discover something to entertain and captivate their imagination.

For advertising and editorial inquiries, contact Jeremy Finkelstein, Managing Editor: jeremy@harveykalles.com / 416.441.2888 x.783
 
Twitter
Facebook
Instagram
Copyright © 2018 HARVEY KALLES REAL ESTATE LTD., BROKERAGE, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.