Virtually Toronto Real Estate: News and Information
for February 2002
TODAY'S TOPICS
-Toronto Real Estate Board 'MarketWatch'
February 2002
-Selling Your Home? Focus on the Kitchen
-City Of Toronto Maps
-Ministry of Economic Development
and Trade-Ontario
-MARKET WATCH-February 2002-
2002 Leads Off with Best Ever January
TREB Members reported 4,869 sales of single-family dwellings
last month, making it the best January on record, TREB President
David Pearce announced today. "The 4,869 sales is up 19%
from the 4,080 sales seen in January 1997, our previous best January,
and up - 57% from last year's 3,103 sales," the President
said.
The news was just as cheery on the pricing front. "January's
average price was $262,819, up 11% from the $235,535 recorded
in January of last year, and the first time since 1990 that prices
have broken the $260,000 mark," the president said.
The president also noted that the Board's total listing inventory
in January was 14,397, down 9% from the 15,783 recorded last year.
"We expect that the healthy price increases we are seeing
will lure potential home-sellers into the marketplace, thus increasing
the amount and diversity of product in the marketplace.
Breaking down the total, 1,851 sales were reported in TREB's
28 West districts and averaged $241,942; 751 sales were reported
in the 14 Central districts and averaged $368,459; 1,040 sales
were reported in the 23 North districts and averaged $290,359;
and 1,227 sales were reported in TREB's 21 East districts and
averaged $206,710.
Neighbourhood Corner-The City Core
Downtown Toronto (C-1) got the year off on the right foot last
month, with 108 sales of condominium apartments, up 71% from the
63 condo sales recorded in January 2001. The median price also
rose, to $219,750, up 10% from the $200,000 recorded during the
same month last year.
In addition, there were 8 townhouse sales last month in C-1;
the median price for these was $222,000, identical to the January
2001 figure.
TREB Market Watch (February 2002)
SELING YOUR HOME? FOCUS ON THE KITCHEN-
If you're selling your home, your best chance at cooking up a
sale is in the kitchen.
For today's home buyer, the kitchen is typically the most important
room in the house -- an area where form and function are equally
important.
Buyers view kitchens as an area that has many functions -- preparing
dinner, sharing meals, sorting mail, paying bills, and generally
hanging out.
In fact, a recent survey by SieMatic Corp. revealed that 85 percent
of respondents said the condition of a home's kitchen is a major
consideration when making a purchasing decision.
A major kitchen overhaul probably doesn't make sense when you're
ready to sell. But you'll want to do all you can to make your
kitchen look its best. Some things you can do to make your kitchen
shine include:
Think paint. Slapping on a fresh coat of paint is an easy, inexpensive
way to brighten and revive any room. It's best to stick to neutral
colors -- you never know what the preferences of potential homebuyers
will be.
Freshen up your countertop. If your countertop tile is old, grungy
or outdated, think about some new tile. This can be done pretty
inexpensively, especially if you don't have a lot of counterspace.
Again, try to keep it neutral. Although it may be tempting, now's
not the time to try out the cobalt blue.
Make a splash. Get rid of that old stainless steel faucet and
update it with a sleek, stylish replacement. Today's faucets come
in a range of materials and colors.
Accessorize. How about replacing those old boring knobs and pulls?
Today's furniture hardware comes in every shape, design, and material
imaginable. New hardware can pull a room together and give it
a polished, clean look.
Get rid of the clutter. You don't want bare counters, but try
to leave the counters as open as possible. Hide away all the extra
appliances, cookbooks, and paperwork that may normally consume
your counterspace.
Let there be light. Make sure blinds are pulled and that plenty
of light is shining in the room. If your kitchen or informal dining
area is next to a patio or courtyard area, make sure that view
isn't hidden behind the blinds. Also, take the time to tidy up
the outdoor area and perhaps add some potted plants or flowers
that can be seen from the kitchen. If your kitchen is naturally
dark, or you're selling during the wintertime, be sure you leave
the kitchen lights on when agents show your home.
Display function. If your kitchen includes a desk space where
you house a computer, pay all your bills and answer your e-mails,
don't feel the need to move the computer to make the area more
clean and attractive. Buyers need to see how rooms can function.
Appliance check. Make sure all your appliances have been maintained
and are working properly.
In summary, just use common sense in presenting your home in
the best way possible. Just remember, because the kitchen can
often make or break an offer, you'll want plenty of light, a sense
of order, and a room that is odor-free.
(realty times)
CITY OF TORONTO MAPS-
Learn about the City of Toronto on this interesting official map
site.
http://map.city.toronto.on.ca/
MINISTRY OF ECONOMIC DEVELOPMENT AND TRADE-ONTARIO
The ministry's core businesses are: employment and business development;
investment development; and trade development.
Employment and Business Development core business contributes
to a positive business climate that supports economic growth and
job creation by: fostering innovation and entrepreneurship; managing
sector and business cluster relationships; promoting the removal
of barriers to business, including addressing business infrastructure
gaps; providing advice on business issues and economic development
policy.
Investment Development core business markets the province as
a premier investment location to key investment decision-makers
through advertising/promotion, lead generation and investment
servicing. The Market Ontario program is a key element of the
ministry's vision for promoting Ontario's competitive advantages
at home and abroad, and attracting and retaining investment.
Trade Development core business expands Ontario's share of the
global export market by working with Ontario firms, in particular
small and medium-sized businesses to: increase the number of exporters;
expand in strategic and emerging markets; develop and nurture
a dynamic export culture; champion the capabilities of Ontario
firms in global markets; promote awareness of Ontario exports.
http://www.2.ontario-canada.com/English/about/aboutmin.htm
