Market Watch On Video

Are TREB search districts selling SouthWest Brampton Short?

Realtors familiar with the west end districts search of  TorontoMLS.net must sometimes ask themselves why W23 is so ridiculously huge and difficult to search. Sure you can narrow it down by map coordinate, however Milton is only 4km away, and Oakville/Milton Board members do not/cannot use map coordinates; Use map coordinates and there is a chance properties will not show up in your search.

W23 spans from Hwy. 407 all the way to the Brampton Caledon Border! By Comparison West Mississauga, an area slightly larger than W23 is made up of three districts - W13,W16,W20. Imagine searching in Clarkson/Lorne Park and listings from Meadowvale/Streetsville are also being sent.

A prime example is my newest listings at 48 Black Bear Trail (MLS#: W2020614 ) in Streetsville Glen, and  7864 Churchville Road (MLS#: W1982288) in historic Churchville. Area residents know that west of the Credit River and north to as far as Bovaird is establishing itself as an area of executive homes bordering on golf course and backing onto the banks of the Credit River. However, unless the agent is familiar with the area, this area is often overlooked.

Levi Creek, my old neighbourhood, is literally 300 meters from 48 Black Bear Trail. Drop a 5-6 year old 2500 sqft home backing onto a field backed by a stand of 100ft tall evergreens into Levi Creek and you'll have offers before the end of the first listing day!  Streetsville Glen and Levi Creek share the same conveniences, are both surrounded by major corporate players (RBC,Microsoft,GSK,Dupont, Loblaw, to name a few), and have excellent access to the 401 and 407.  The homes in Streetsville Glen are newer and overall better appointed. Taxes in Brampton are higher - as much as 15-20%.

What has changed? 300 meters. Ok yes Black Bear is in Brampton and Levi Creek is in Mississauga. But take that same theory to the subdivisions on Steeles and Mavis vs. Derry and Mavis and it doesn't hold water; the sales prices are practically the same and there is 300 meters separating the subdivisions.

Bottom Line is that it is time for a re-ordering of the TREB districts. W21,W22,W23,W24,W25 were established years back before the explosive growth of Brampton and Milton. I am a member of the Oakville-Milton board almost exclusively because TREB's districts force us to send listings from all over town to clients who want specific areas in w21/w22. This was fine 10 years ago when they would only have to disregard a few listings. Today there are too many listings to ignore. (You cannot specify map co-ordinates in Milton or Oakville - their board does not use map coordinates).

At a time when new rules have put new demands on our industry it is important that we are equipped with the tools to perform our tasks accurately and professionally. The current TREB district search makes this difficult and often makes us look unprofessional. It is time to re-order the TREB districts.

David Smeriglio
Sales Representative/Owning Partner
Sutton Group Icon Realty Inc. Brokerage
905 848 1313



PS if your in the area come visit me at my Open House on 48 Black Bear Trail (w23 - just north of Levi Creek)  lol :)

Year End/ Monthly Report - Toronto Real Estate

TORONTO, January 6, 2011 -- Greater Toronto REALTORS® reported 4,395 existing home sales for the month of December, bringing the 2010 total to 86,170 – down by one per cent compared to

2009.

“Market conditions were anything but uniform in 2010. We went from super-charged sales activity during the first four months of the year, to a marked drop-off in transactions in the summer and then in the fall saw sales climb back to levels that are sustainable over the longer term,” said TREB President

Bill Johnston.

“New Federal Government-mandated mortgage lending guidelines, higher borrowing costs and misconceptions about the HST caused a pause in home buying in the summer. As it became clear that

the HST was not applicable to the sale price of an existing home and buyers realized that home ownership remained affordable, market conditions improved,” continued Johnston. The average home selling price in 2010 was $431,463 – up nine per cent in comparison to the 2009

average selling price of $395,460. In December, the average annual rate of price growth was five per

cent.

“At the outset of 2010, we were experiencing annual rates of price growth at or near 20 per cent. This was the result of extremely tight market conditions coupled with the fact that we were comparing prices to the trough of the recession at the beginning of 2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“Balanced market conditions in the second half of 2010 resulted in more moderate home price appreciation,” continued Mercer. “Expect the average selling price to grow at or below five per cent in 2011. With this type of growth, mortgage carrying costs for the average priced home in the GTA will remain affordable for a household earning an average income.”

Home sales in the GTA were spread across a number of different housing types in 2010. Detached homes accounted for 49 per cent of total sales. Condominium apartments accounted for an additional

25 per cent per cent of sales. Other housing types including townhomes and semi-detached houses accounted for the final 26 per cent. In some areas like TREB’s central districts the mix was quite different, with condominium apartments accounting for 61 per cent of total sales.

“Ownership housing is available in a diversity of types and price points across the GTA, allowing plenty of choice for first time buyers and experienced home buyers alike. This housing diversity is one factor

that continues to make the GTA a popular choice for households and businesses,” concluded Johnston.

Source: TREB