Mid-May results are out and the Toronto Real Estate prices are up with the some resale listings down.

With fewer Home listings available to Home buyers the price increases due to even more competition in desirable Toronto Home locations like Rosedale and Forest Hill.

Toronto Downtown Condos are leading the broad rise in prices for all Home types in April and they are contributing as well in the first two weeks of May.

The average price for a Toronto Condo increased to $377,341-up 2.1 per cent.

Iris Li, is a Toronto Remax Condos Realtor who specializes in Toronto downtown Condos, Condominiums and Lofts.

A new loophole in the rental of Toronto Condos has allowed landlords to increase rents above and beyond the provincial mandated rental guidelines.

Many Toronto downtown Condo tenants facing increased rents are surprised buildings occupied after 1991 are exempt from rent controls.

Some of theses tenants have seen their rent increased more than 3 times the mandated 2.5 per cent increase set by the province for the older buildings.

Toronto Condo owners are trying to recover some of their own rising maintenance fees and taxes, passing these increases on to the Condo tenant.

In the last few years more than 70 per cent of all new Toronto rentals have been in Condos.

Why the exemption in rent controls for new Toronto Condos?

• The exemption was designed to encourage new rental accommodation.
• New jobs would also be created in building more rental accommodation in these new Condominiums.

The Ontario government said any change to the rental incentive could have an adverse effect on the economy, the rental housing sector, the economy and jobs.

View the latest Toronto rentals- Bay/Bloor Condos and Bay and College Condos in downtown Toronto.

Summary of TorontoMLS Sales and Average Price April 1 – 14

		2013				2012
	Sales		Average Price	New Listings	Sales		Average Price	New Listings
City of Toronto (“416″)	1,565	$	578,327	3,405	1,638	$	553,032	2,809
Rest of GTA (“905″)	2,695	$	497,821	5,365	2,655	$	476,364	4,771
GTA	4,260	$	527,397	8,770	4,293	$	505,617	7,580

TorontoMLS Sales & Average Price By Home Type April 1 – 14, 2013
				Sales						Average Price
		416		905		Total		416		905		Total
Detached		561		1,596		2,157		847,793		589,985		657,036
	Yr./Yr. % Change	-3.4	%	6.8	%	3.9	%	5.0	%	3.7	%	3.4	%
Semi-Detached		184		287		471		599,147		411,948		485,079
	Yr./Yr. % Change	-3.2	%	-2.7	%	-2.9	%	4.2	%	5.4	%	4.8	%
Townhouse		167		506		673		405,690		374,598		382,313
	Yr./Yr. % Change	-3.5	%	-1.9	%	-2.3	%	-4.5	%	2.8	%	0.7	%
Condo Apartment		640		247		887		386,602		271,777		354,627
	Yr./Yr. % Change	-4.3	%	-9.5	%	-5.8	%	5.9	%	-6.6	%	3.2	%

Toronto detached homes continue to increase in average price for Mid-March results with Toronto Condos also increasing in the 416 area by 5.9 per cent to $386,602.

I am sure we see low-riseToronto homes continue to gain in price in 2013 as their sales slow down.

Bay Bloor Condos For Sale

Rosedale Homes For Sale

Toronto Downtown High-Rise Condos For Sale

Search all listings for high-rise Condos for sale in Toronto.

We can show you prices, room details and pictures plus locations of all these Condominiums.

We have outlined the different Toronto neighbourhoods where you can find high-rise Condos.

Usually in Toronto a high-rise is any building 7 floor or more. Mid rise buildings have 4 to 6 stories.

Not surprisingly, most of the high-rise Condos for sale are in downtown Toronto.

Yorkville, Harbourfront and the Financial District are just a few of the neighbourhoods you will find so many Condos.

For more Toronto Condos information:

Yorkville Condos For Sale

Harbourfront Condos For Sale

Financial District Condos Listings

New Toronto Condos Under Construction Continue.

Many Toronto Condo watchers continue to worry who is going to buy the 61,048 Condominiums in 229 new projects in the Toronto area.

Almost 89 per cent of these new Condos are already pre-sold with healthy deposits held by the builder.

Most of Toronto’s major Banks want certain risk management practices to be in place for new Condo projects. Before construction even starts, some Banks require the builder to have sold 75 per cent of the total suites that are for sale.

These new Toronto Condos will take anywhere from 3 to 4 years to complete or even longer resulting in 15,000 to 16,000 units delivered every year.

View current Toronto Condos downtown both new and resale listings.

Related:

Toronto $15.8 Million Dollar Mansion

Toronto MLS Home Sales and Average Resale Prices

During the first 14 days of march 2013, a reported 3,594 home sales were completed, down 11.5 per cent from the same time last year.

The average resale Home price was $532,102 for all Home types resulting in a 6 per cent price gain.

As a result of a tight supply of  Toronto detached Homes, Semis and Town-homes the Toronto Real Estate Board forecasts a 3.5 per cent increase for all home types in 2013

Toronto Homes and Toronto Condos Average Price (416) Area:

• Toronto Detached Homes 470 Sales- Average resale price $909,910 up 7.2%
• Toronto Semi-Detached Homes 140 Sales- Average resale price $622,044 up 12.2%
• Toronto Town-homes 144 Sales-Average resale price $447,460 up 8.2%
• Toronto Condos 619 Sales-Average resale price $368,715 up 1.9%

Search the latest Toronto Downtown Condos for sale or rent.

Toronto Becomes The Fourth Largest North American City Passing Chicago

According to the City Of Toronto our population in Toronto now surpasses Chicago to become one of the top four cities after Mexico City, New York and Los Angeles.

The City of Toronto has an estimated population of 2,791,140 according to Statistics Canada.

Job seekers and immigration are playing a big part in the annual growth of our city.

It is estimated that the annual growth in the City of Toronto is 38,000 people a year so we need a lot more Toronto Condos to house most of them that prefer a downtown location close to work.

View Toronto Condos For Sale/Rent Downtown.

Toronto MLS Sales,Average Resale Home Price Feb 2012

Toronto MLS sales were down in February by 15 per cent according to the Toronto Real Estate Board.

The average resale Toronto Home Price was $510,580 an increase year over year by 2 per cent.

Average price forecast is $515,000 for all home types including Toronto Condos combined in 2013.

Here is a brief summary of Toronto Home and Condo sales:

• Toronto Detached Home average price-$823,329 up 0.1%
• Toronto Semi-Detached home price-$618,777 up 6.2%
• Toronto Townhouse average price-$450,440 up 4.9%
• Toronto Condominium average price-$352,614 down 4.7%

Luxury Toronto homes were lower than last year contributing to a more modest pace of overall price growth for the GTA as a whole according to the Toronto Real Estate Board.

Iris Li is a Remax Condos Toronto Realtor specializing in both new and resale Toronto Downtown Condominiums.

View:

MLS Listings Toronto

Toronto Average Home Prices January 2013

Toronto average home prices were up in January with Toronto semi-detached homes rising 12.5 per cent in the 416 area.

Detached homes in Toronto increased as well to an average price of $765,049, up 2.7 per cent.

Even Townhomes were up 1.8 per cent to an average price of $418,262.

The average selling price for Toronto Condos was $340,295 dropping 1.3 per cent.

That being said, the Toronto real Estate Board is expecting the annual price growth for Toronto homes will be in the three to five per cent range for 2013.

The average resale price for Toronto Condos was $340,295 down 1.3 per cent but some areas like C08 in the Toronto downtown area did post positive gains.

Iris Li, RE/Max Toronto Realtor specializes in Toronto Condos both new and resale.

Let us help you find that new luxury Toronto Condominium.

View:

Toronto Downtown Condos For Sale

Toronto Rosedale Homes For Sale

New Toronto Low-Rise Home Supply Decreasing With Average Prices Increasing

The supply of new low-rise Homes has decreased by 52 per cent in just a short 48 months.With a lack of new home product the average Home price has increased by 44 per cent as a result of the governments intensification polices.

According to Realnet Canada the average price of homes on the rise (Condos) is flattening, while the average price of the homes in less supply (Low-rise) is rising.

Toronto Condominiums aside, attention should also be paid to the diminishing low-rise Home market in Toronto and area.

New Toronto Condos sold in 2012 represented $9 Billion in total, the fourth-highest year on record for Condominium sales.

Updated & Revised May 2013!

Check here for:

Toronto Downtown Condos For Sale

Toronto Rosedale Homes For Sale