June/July 2014 Real Estate Update

Posted by: Elise Stern, Created date: June 26, 2014

Happy Summer!
It’s the time of year when the days are longest and Toronto is at its most beautiful. Patio season, as it’s sometimes called. In the past few years there’s been a bit of a renaissance of outdoor culture in the city: lots of street festivals, food festivals, farmers’ markets every day of the week, and all kinds of other celebrations of the outdoors. Read on to discover the very real benefits of living in a city like ours with all its many green spaces.
There’s also some excellent news on the real estate front: the Toronto market continues to be strong, and this spring brings some more inventory to choose from, too.
If you'd like to discuss how I can help you fulfill your real estate goals, please give me a call or send me an email anytime.

Real Estate Market Report:
June/July 2014

The Toronto Real Estate Board figures are in for mid-June, and for the first time in several months, we’ve seen a shift in the market. After a winter of very little inventory, frustrated buyers and heated bidding wars, June’s figures show a significant increase in both sales and prices. 
This shift is significant because it’s good news for both buyers and sellers.Buyers have many more homes to choose from, while sellers can rest assured that their homes are still gaining value. There is so much pent-up demand in the market that even the current higher inventory levels are still lower than historical averages.  Sales were up 11.3% year-over-year, but new listings were up 7.8%: homes are still being sold faster than they're being listed.
The other bright spot in the current market is that prices are up across the board, from detached homes to condos, from the 416 to the 905. Contrary to what some of the media continue to say, condo sales and prices are still very strong, and condos remain a good investment. This is no surprise given that the number of transactions was up compared to 2013 by a greater rate than the number of new listings, which suggests that competition between buyers arguably increased,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

What's happening in Toronto?

Summer Music In the Garden (to September 14)
The Harbourfront Centre presents a new season of free outdoor concerts in the Toronto Music Garden. The series features classical and traditional music from around the world in an enchanting setting. Designed by cellist Yo-Yo Ma and designer Julie Moir Masservy, and inspired by Bach’sSuite No. 1 in G Major for Unaccompanied Cello, the garden serves as a fitting backdrop for the hour-long, family-friendly performances.


Fresh Wednesdays (to August 27)
Food and music go hand in hand on Wednesdays this summer, with the return of Fresh Wednesdays this year in Nathan Phillips Square at City Hall. For seven straight weeks, visitors can shop for fresh foods at the Wednesday Farmers’ Market while hearing live music in the square.

The Beaches International Jazz Festival (July 18-27)
The annual Beaches International Jazz Festival showcases jazz, blues, big band, vocalists, African, Caribbean, reggae, hip-hop, South American, Latin, rhythm and blues and more. The event takes places at several venues across the Queen East/Beaches area and boasts an eclectic line-up.
The fest includes workshops, jam sessions, kids events and a street festival on top of the performances.

The Benefits Of Living Near 
Green Spaces
Feeling a yearning to return to nature? That’s not just cottage season talking. That longing for fresh air, open water, blue skies, and green trees doesn’t just come from the heart – it comes from the brain. A recent study from Utah State University shows that even a quick glimpse of a natural environment – even if it’s just a glance at the wallpaper on your computer screen, or a long gaze out the window – can help you calm down and make better decisions. And that’s not all.
In 2012, researchers at Glasgow University found that jogging outdoors was 50% better for mental health than jogging indoors on a treadmill. And of all possible outdoor environments to exercise in, woodland and forest environments were the most beneficial from a mental health standpoint.
But getting out there isn’t just good for mental health – it’s a good predictor of overall health. The Jerusalem Longitudinal Study showed that independent elderly people who went outside on a daily basis, even if it was just for a brief walk with a dog or to visit the green grocer, experienced less decline in basic function as they aged.[1]
The elderly aren’t the only ones who benefit from time spent outside. Children in particular respond especially well to seeing green spaces and doing activities outdoors. And don’t forget to go outside during the colder months, too. The outdoors are still a healthy experience for body and mind during winter!
 Obviously, you shouldn’t try to reap the rewards of being outside just a few times a year during cottage trips or ski vacations. That’s why it’s important to choose a home near a green space. Whether it’s a big back yard, a park, a playground, a beach, or even a green courtyard in a condo building, accessing green spaces on a daily basis can make a huge difference to your mental and physical health. So when you’re choosing your next home, think green! It’s not just about increasing your square footage, it’s about giving yourself some space. 

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