March 17, 2016 – Greater Toronto Area REALTORS® reported 4,569 sales through TREB’s MLS® System during the first 14 days of March 2016. The number of transactions was up by 20.3 per cent compared to 3,797 transactions reported during the same period in 2015. For the TREB market area as a whole, double-digit annual rates of sales growth were experienced for all major market segments, with semi-detached house sales up by the greatest rate compared to last year.

The number of new listings reported by TREB Members during the first two weeks of March amounted to 6,689 – a 1.2 per cent decrease, which had its roots in the City of Toronto.
With market conditions tightening compared to last year, strong competition between buyers resulted in the average selling price for March mid-month transactions increasing by 12 per cent year-over-year. Low-rise market segments continued to drive price growth, but the condominium apartment market segment also continued to experience an annual rate of price growth more than double the rate of inflation.

In the City of Toronto, detached and semi-detached house price growth was not as strong compared to the surrounding region. This was due to the fact that fewer higher end homes were sold during the first 14 days of March compared to the same period in 2015.

Source: The Toronto Real Estate Board

TORONTO, April 5, 2016 — Toronto Real Estate Board President Mark McLean announced record TREB MLS® home sales for the first quarter of 2016 following a strong result for March transactions.  There were 10,326 sales in March and 22,575 sales in the first quarter.  The year-over-year growth rate for sales was 15.8 per cent for Q1 2016 and 16.2 per cent for March 2016.  For the TREB market area as a whole, double-digit year-over-year rates of sales growth were experienced for all major home types during the first quarter.

The positive annual growth in sales was not mirrored on the listings front. The number of new listings entered into TREB’s MLS® System during March and the first quarter were down compared to the same periods in 2015.

“At the beginning of 2016, TREB’s outlook for the year pointed to a strong possibility of a second consecutive record year for home sales.  This outlook was based, in part, on upbeat consumer survey results pointing to robust home buying intentions.  It is clear that these upbeat intentions have translated into record first quarter results,” said Mr. McLean.

The MLS® Home Price Index Composite Benchmark for March 2016 was up by 11.6 per cent compared to March 2015.  The average selling price for all home types combined was up 12.1 per cent year-over-year in March and 13.6 per cent in the first quarter.

“Demand was clearly not an issue in the first three months of 2016, regardless of the housing market segment being considered.  The supply of listings, however, continued to aggravate many would-be home buyers.  We could have experienced even stronger sales growth were it not for the constrained supply of listings, especially in the low-rise market segments.  The resulting strong competition between buyers has underpinned the double-digit rates of price growth experienced so far this year,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

TORONTO, March 3, 2016 — Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported a record number of home sales through TREB’s MLS® System in February 2016. There were 7,621 transactions reported this past February – up 21.1 per cent compared to February 2015.

The number of new listings entered into TREB’s MLS® System was also up on a year-over-year basis, but by a lesser 8.2 per cent. The fact that the annual rate of sales growth outstripped the annual rate of new listings growth shows a tightening of market conditions compared to last year.

“Even after accounting for the leap year day, sales were above the previous record for February set back in 2010.  Sales were up strongly from the 15th day of the month onward as well, despite the new federal mortgage lending guidelines coming into effect that require at least a 10 per cent down payment on the portion of purchase prices between $500,000 and $1,000,000,” said Mr. McLean.

Seller’s market conditions continued throughout the GTA in February.  Strong competition between buyers resulted in a healthy growth in selling prices. The MLS® Home Price Index (HPI) Composite Benchmark was up by 11.3 per cent year-over-year. The average selling price was up by 14.9 per cent annually to $685,278.

“Recent polling conducted for TREB by Ipsos suggested that GTA households will remain upbeat about purchasing a home in 2016. Early sales results for January and February certainly support this view.  With strong sales up against a constrained supply of listings, home prices continued to trend strongly upward,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

TORONTO, February 3, 2016 — Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB’s MLS® System in January 2016.  This result represented an 8.2 per cent increase compared to January 2015.

“It is clear that the handoff from 2015 to 2016 was a strong one.  This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016.  Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment,” said McLean.

The MLS® Home Price Index Composite Benchmark Price for January 2015 was up by 11.2 per cent on a year-over-year basis.  The average selling price over the same period was up by 14.1 per cent.

The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the City of Toronto this year compared to last.  The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next.

“Market conditions in January were tighter compared to a year earlier, with an annual increase in sales up against a decline in listings.  This is why growth in the MLS® HPI benchmarks continued to be strong, especially for singles, semis and townhouses, where there has been a persistent lack of inventory,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

January 20, 2016 – Greater Toronto Area REALTORS® reported 1,583 sales through TREB’s MLS® System during the first 14 days of January 2016. This result represented a 15 per cent increase compared to 1,376 sales reported during the same time frame in 2015. Annual rates of sales growth were stronger in the areas surrounding the City of Toronto for all major home types.

While the number of sales increased strongly on a year-over-year basis, the number of new listings reported by TREB Members was down slightly compared to the first 14 days of 2015. This suggests that market conditions were tighter this year compared to last, with more competition between buyers in many market segments and areas in the GTA.

The average selling price for the first two weeks of January 2016 was $594,969 – up 16.5 per cent compared to the average of $510,575 reported for the same period in 2015. GTA-wide, the strongest annual rate of average price growth was reported for detached houses. The double-digit annual increase reported for detached homes in the ‘905’ regions was likely the result of a compositional shift in the types
of homes sold this year compared to last, with a greater share of high-end homes sold in 2016.

It is also important to note that growth in the average condominium apartment price also remained robust, suggesting that there is no glut in inventory within this market segment.

TORONTO, January 6, 2016 — The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that there were 4,945 sales reported in December bringing the 2015 calendar year total to 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year.

“Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term,” said Mr. McLean.

“If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand,” continued Mr. McLean.

The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to $566,624 in 2014. The MLS® HPI Composite Benchmark Price was up by a similar annual rate of 10 per cent in December. GTA home price growth was driven by the low-rise segments of the market, but condominium apartment price growth was generally well-above the rate of inflation as well through 2015.

“TREB will release its official 2016 outlook later in January, but suffice to say that the demand for ownership housing is expected to remain very strong in 2016. Despite stricter mortgage lending guidelines and the possibility of slightly higher borrowing costs, on average, there will be many buyers who remain upbeat on the purchase of ownership housing,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

TORONTO , Dec. 8, 2015 /CNW/ – Brookfield Real Estate Services Inc. (the “Company”) (BRE.TO) announced today that it has approved the acquisition of certain franchise agreements from Brookfield Real Estate Services Manager Limited (“the Manager”).

Acquisition of Franchise Agreements
Under the Royal LePage and Via Capitale brands, the Company will purchase franchise agreements representing 33 real estate operations and 459 REALTORS^®1 across Canada for approximately $6.6 million . These agreements are estimated to generate an annual royalty stream of $1.0 million and will be effective January 1, 2016 .

As outlined in the Company’s Management Services Agreement (“MSA”) with the Manager, 80 per cent of the acquisition price will be paid in January 2016 and the balance paid in January 2017 when the purchase price is finalized, based on the actual performance of the acquired agreements.

The payment due January 1, 2016 of approximately $5.3 million , plus applicable HST, will be funded through a combination of cash on hand and a draw down on the Company’s debt facilities.

“The Company experienced strong growth in 2015, as high performing real estate brokers and agents from coast-to-coast continued to choose our industry-leading brands,” said Phil Soper , president and chief executive officer, Brookfield Real Estate Services Inc. “Our ongoing commitment to equipping our REALTORS^® with the most innovative and complete suite of business services and tools is paying dividends, as we continue to enjoy market-leading momentum and sustained industry leadership.”

ABOUT BROOKFIELD REAL ESTATE SERVICES
Brookfield Real Estate Services Inc. is a leading provider of services to residential real estate brokers and a network of more than 16,000 REALTORS^®. The Company operates in Canada under the Royal LePage, Via Capitale and Johnston & Daniel brands. Further information is available at www.brookfieldresinc.com

Brookfield Real Estate Services is an affiliate of Brookfield Asset Management, a leading global alternative asset manager with over $200 billion of assets under management. For more information, go to www.Brookfield.com

¹ REALTORS^® is a trademark identifying real estate licensees in Canada who are members of the Canadian Real Estate Association.

Source: Yahoo Finance

Phil Soper, President and CEO of Royal LePage discusses the state of Canadian housing in different regions of the country.

Source: Business News Network

TORONTO, November 5, 2015 — Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 8,804 home sales through TREB’s MLS® System in October 2015.  This is the best result on record for the month of October.

“It is clear that many GTA households remain upbeat about home ownership because owning a home represents a high quality, long-term investment.  We will see a big, new record this year for home sales reported through TREB’s MLS® System,” said Mr. McLean.

“Despite the record October result, I must point out that the Government of Ontario could hamper home sales in the near future. The Wynne government is seriously considering allowing municipalities throughout Ontario to institute a second land transfer tax on top of the existing provincial tax.  Recent polling has shown that the great majority of Ontarians oppose this tax and would consider delaying a move if they were forced to bear the additional upfront cost,” added Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in October. Over the same period, the average selling price for all home types combined was up by 7.3 per cent to $630,876. Price growth continued to be driven by the low-rise market segments.

“Record sales coupled with a constrained supply of listings in many GTA neighbourhoods has underpinned very strong price growth throughout 2015. Even if we do see a greater supply of low-rise listings in the marketplace over the next year, market conditions will remain tight enough to see continued price growth well-above the rate of inflation,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: The Toronto Real Estate Board

Greetings Dear TanTeam.com readers!

It’s that time of the year again where the music flares and the cups go up for *clings*, laughter and cheers flood the air. It’s also an opportunity for us to thank our patrons, clients, supporters and good friends for a wonderful year of support!

We are proud to announce our annual Client Appreciation 2015 this year will be taking place and the location is set! Get ready for some great socializing and fun.

Be Sure To RSVP With The TanTeam by November-10th-2015

Warm Regards,
-Tan and The TanTeam

“We hope to see you and family soon!”

The Machu Picchu Challenge for Shelter will support shelters providing safety and hope for women and children fleeing domestic violence

TORONTO, August 5, 2015 – For eight days this August, 60 Royal LePage agents, broker/owners, staff and family members from across Canada will hike at high altitude to raise much-needed funds and awareness to break the cycle of domestic violence. For the cause, they will endure zero temperature nights camping in tents and go without running water, electricity or cell phone service.

Heralding from seven provinces, all participants in the Machu Picchu Challenge for Shelter must raise at least $5,000 for the Royal LePage Shelter Foundation and cover their airfare to Peru and the majority of their trek costs. The participants range in age from 16-70 and consist of solo trekkers plus husband-wife, mother-son and mother-daughter teams. One Royal LePage agent is bringing her daughter as a 16th birthday gift and there is a couple that will be celebrating their 30th anniversary on the trek. Several participants in the Machu Picchu Challenge for Shelter experienced abuse in their past relationships or lived with family violence when they were growing up. All are motivated to make a difference in the lives of those currently experiencing abuse.

“We have watched our supporters do incredible things on behalf of the women’s shelters in their communities. They’ve ran marathons, climbed mountains, paddled long distances and created other personal challenges to demonstrate their commitment to our foundation,” said Shanan Spencer-Brown, Executive Director of the Royal LePage Shelter Foundation. “In that same spirit, we partnered with Charity Challenge, a company that offers international travel adventures to raise funds for charity, and chose the trek to Machu Picchu because it offers a physically demanding hike in a beautiful and remote location that is considered by many to be a ‘bucket list’ experience.”

Trekkers will begin in the ancient Inca capital of Cusco where they will acclimate to the high altitude (11,400 feet) by visiting local Inca ruins and Spanish Colonial churches. Then, they will hike through the remote Lares Valley where they will glimpse a way of life that has remained unchanged for centuries. The Challenge trekkers will make their way to the Sun Gate at Machu Picchu, the “lost City of the Incas,” via the Inca Trail where they will explore breathtaking pre-Columbian ruins nestled high in the Andes Mountains. In addition to collectively raising close to $400,000 for the charity, the participants have trained for months with regimens such as CrossFit and stair climbing to ensure they can meet the physical demands of hiking for long days at high altitude.

Now in its 17th year, the Royal LePage Shelter Foundation supports 200 women’s shelters and other domestic violence programs across the country, helping more than 30,000 women and children every year. It’s also committed to funding violence prevention initiatives and education programs aimed at helping youth develop healthy relationships. Since its inception, the Royal LePage Shelter Foundation has raised more than $20 million. This is achieved with the help and support of generous Royal LePage agents, broker/owners, staff and business partners, along with members of the communities where Royal LePage operates.

“Royal LePage Realtors® understand that a house is only truly a home when the people who live there are safe,” said Ms. Spencer-Brown. “Unfortunately, for the thousands of women and children in Canada who experience domestic violence, this is not the case. On average, every six days a Canadian woman is killed by her current or former partner. Participants in the Machu Picchu Challenge for Shelter are going the extra distance to bring safety to abused women and children in their communities and to prevent such tragedies from taking place.

Source: Royal LePage

Royal LePage has launched an online contest to connect with clients and prospects over the summer and fall months.

Canadians are being asked to take photos of what home means to them and share them on the #IMHOME contest site.

Contestants are entered for a chance to win $25 weekly gift card prizes, $250 monthly gift card prizes or a $2,500 home shopping spree at Hudson’s Bay, Home Depot or Best Buy Canada.

Royal LePage’s brokers and sales reps have been equipped with a variety of digital marketing tools and pre-printed and customizable signs to be used in their client photos.

Clients and prospects can enter their photos in the contest by clicking on a personalized URL they receive from their agent. Or, they can enter at at the #IMHOME contest website and include the agent’s name on the entry form.

The sales rep or broker with the most submissions is eligible to win a grand prize $2,500 Air Canada or Sunwing Vacations travel voucher.

Source: Royal LePage