Archive for August 2019

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Article Month-Year   9 Ways to Increase Your Home's Value July 2014 A Christmas Greeting December 2014 Are You Planning to Sell in 2015? November 2014 Are You Ready for Some Lavender Love? July 2014 Art Show & Sale - David Arathoon - Islands in the Sun April 2015 Carbon Monoxide ( CO ) Alarms Now Mandatory in All Ontario Homes October 2014

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Cottage Dreams: Turn-Key Family Compound Muskoka Milla, Cognashene, Honey Harbour, Georgian Bay

This exceptional family compound is sited on a massive Canadian shield outcropping perfectly integrating it with its natural environment hugging the shoreline of Georgian Bay. Located in the Bone Island basin on one of the exclusive mega lots at Muskoka Mills, the property consists of 26 + acres of granite, majestic pines and 1449 ft. of granite shoreline leading to the pristine waters of Georgian Bay.

The architecturally designed 2500 sq. Ft. 3 bedroom – 2 bath main cottage is four-season, has all the comfort and conveniences and is furnished to a high standard. There is also a 650 sq. Ft. 2 bedroom / 1 bath guesthouse and a 585 sq. Ft. workshop / dry boathouse on the shore.

The main cottage is an open plan with light-filled principal rooms offering spectacular Georgian Bay views. There are extensive decks for sun and entertaining along with a gazebo. The living room and family room have fireplaces, the office / den has a woodstove. The mechanicals are very well thought out and are state of the art. There is good deep-water dockage and great swimming off the u-shaped dock. Most chattels are included. Only 15 minutes by boat from marinas in Honey Harbour.

Georgian Bay is the northeastern arm of Lake Huron, in Ontario. It’s characterized by rugged bedrock, white pine forests to the north, sandy southern beaches, and 30,000 islands. Bruce Peninsula National Park on its western side includes part of the Bruce Trail along the Niagara Escarpment. Fathom Five National Marine Park is known for preserved shipwrecks, 19th-century lighthouses and Flowerpot Island’s sea-stack rock formations.

Offered for Sale $1,795,000 – Call for a Private Showing

July Is National Ice Cream Day

President Ronald Reagan signed the proclamation making July National Ice Cream month in July 1984. Ice cream brings up many childhood memories for me. I had the great fortune of being born to a Mother and Father who both loved ice cream. Many Friday nights found us at a family favorite Matlack’s, restaurant-style ice cream parlor near my home town that served baskets of pretzel sticks with their bowls of ice cream, or a summertime drive down to Dredge Harbour Soft Serve ice cream near the river in my hometown, or my Mother bringing home a quart of her favorite hand-dipped Butter Almond or Chocolate or Mint Chocolate Chip for us to share.

One adult memory of ice cream surrounds my friend and former boss, Kris Weston. Kris was in palliative care and actively dying at a hospital near Yonge and Bloor. She was a real-life “Sex in the City” character. She also was surrounded by a coterie of single professional women of a certain age who were her support team. They were all there visiting one evening and when leaving to have dinner nearby, someone asked her if she wanted anything.

 

“Häagen-Dazs Dulce de Leche Ice Cream”, was the response.

 

When they returned, they told us that Pusateri’s in Yorkville didn’t have that flavour, so they were sending a pint down from the Pustateri’s on Avenue Road north of Lawrence in a taxi. (“Who does that?”, I thought.)

 

Sure enough, after they left the cab driver arrived at the hospital room door with the pint of ice cream. I paid him $20 or $25 + tip for delivering it.

Kris savoured her ice cream, enjoying every spoonful. She died three days later.

Toronto has many ice cream choices waiting for you to make your own summertime memories. I’ve sampled all of them. All highly recommended.

June 2019 Toronto Real Estate Market Report

 

June 2019 Toronto Real Estate Market Report

As forecast, the Toronto and area residential resale market delivered its third consecutive strong monthly performance. In June 8,860 properties were reported sold, almost 11% higher than the 8,024 properties reported sold last year. On a year-to-date basis, 43,950 properties have been reported sold, a vast improvement over the 39,922 properties reported sold at the midpoint of 2018. At this rate, the Toronto and area residential resale market will report about 85,000 sales in 2019. Last year only 78,023 were reported sold, the lowest number of sales since 2008.

The average sale prices rose by 3% to $832,703. In the City of Toronto, the average sale price came in at $915,481, 10% higher. This is startling when it is remembered that about 50% of all property sales in the City of Toronto are condominium apartments, with an average sale price of only $636,000 in June.

Not only was the number of sales impressive, but also the speed at which sales took place was also impressive. All properties sold in the greater Toronto area were reported sold in only 21 days. In the City of Toronto, sales took place in only 18 days. In some trading areas in Toronto, sales took place even faster. For example, all sales in Toronto’s eastern districts took place in 15 days. Semi-detached property sales in the eastern districts and there were 133 of them, took place in only 11 days, at sale prices averaging 109% of the list prices.

                                          For Lease: 2 Bedrooms, 2 Bath Executive Condo in a downtown boutique building full of amenities:
pool, billiards, squash, rooftop deck, concierge, meeting rooms,
fitness, and party room & parking.
$4,000 / month

Inventory continues to be a concern. In June 15,816 properties came to market, almost 1% less than the 15,876 that came to market last year. The bulk of those new listings were in Toronto’s 905 region. At month end buyers in the greater Toronto market place had 16,655 available properties to view and purchase. Unfortunately, that number was almost 6% fewer than the 20,844 properties available last year at this time.

Urban Researchers Frank Clayton and Eva Shi recently reported that in 2018 the population of the greater Toronto area grew by 125,298 people, second only to Dallas – Fort Worth – Arlington, which grew by 131,767. The City of Toronto grew by 77,435 people over the same period, by far the fastest-growing city in North America (Phoenix came in second with a growth rate of 25,288.) All of the greater Toronto area’s growth is immigration driven.

The problem for the city of Toronto and the greater Toronto area is that this growth is not singular. It has been occurring year in and year out for more than 10 years. The compounding effect has put tremendous pressure on housing both from the perspective of availability and affordability. Having only 19,655 properties available throughout the greater Toronto area is simply not enough.

Of particular concern is the impact of population growth on the availability of condominium apartments, the least expensive housing form available to buyers. In June new listings of condominium apartments declined, both in the City of Toronto and the greater Toronto area compared to last June. In the City of Toronto, only 2,546 condominium apartments were available to buyers at the end of June, not nearly enough to satisfy the demand.

The high-end of the market continues to improve. In June 257 properties having a sale price of $2 Million or more were reported sold, almost 9% higher than the 237 reported sold last year. Detached homes, which represent about 90% of these sales, came in at an average sale price of $1,332,639 in the city of Toronto. In Toronto’s central districts the average sale price for detached properties sold was just over $2 Million.

As we move into July, and the summer months we can expect softer sales. By September I anticipate that sales and average sale prices will return to the pattern established in April, May, and June. Sales will be approximately 10% higher than sales achieved in 2018, and average sale prices will continue to increase moderately at 3 percent.