GTA home sales, new listings, and home prices were up in July 2023 when compared to the same time last year.
The real estate market inside scoop for the community you love. See homes that are for sale and have recently sold. Find out if home sales in your neighbourhood are trending up or down. See what homes around you are currently selling for.
Oshawa, Ontario – Nestled within the welcoming community of Oshawa, a hidden gem awaits, offering the perfect blend of comfort, convenience, and elegance. Introducing a superb Kassigner-built home that exudes charm and function, providing an idyllic family home for you and your loved ones.
A Perfect Family-Oriented Location
Located in a fantastic family-oriented area, this property boasts a prime location, making it a top choice for families seeking a warm and friendly neighborhood. With proximity to five top-notch schools, parents can rest assured their children will receive an excellent education.
Nature’s Playground at Your Doorstep
Nature lovers will rejoice in the abundance of green spaces nearby. Just a mere 5-minute stroll will lead you to three picturesque parks, offering endless opportunities for outdoor activities and quality family time. For more play options, you’ll find four inviting playgrounds and two expansive sports fields within a pleasant 20-minute walk.
Convenience at Your Fingertips
For those with a daily commute, the property’s unbeatable convenience comes to light. A transit stop is just 4 minutes away, providing easy access to public transportation options.
Exquisite Interior and Generous Spaces
Step inside to be greeted by stunning hardwood and tile floors on the main level, creating a warm and inviting ambiance. The second level showcases elegant parquet flooring, adding a classic touch to every room.
The home boasts four spacious bedrooms, offering ample space for your family’s comfort. Additionally, an unfinished fifth bedroom in the basement provides exciting possibilities for customizing your living space. With three total bathrooms, including one with a rough-in for an additional shower, there is tremendous potential for expanding your home to suit your needs.
A Garage Fit for Your Needs
No need to worry about parking space – the high and deep garage is perfect for accommodating your large vehicle, complete with a soaring 9ft header for extra height.
Your Private Oasis Awaits
Step outside to your own private oasis, a fully fenced backyard providing the perfect sanctuary for relaxation, entertaining friends, and creating cherished family memories.
Welcome Home
Don’t miss this incredible opportunity to call this beautiful property your forever home. Contact us today for more information and to schedule your private tour of this fantastic Kassigner gem.
Oshawa, Ontario offers the perfect blend of city amenities and a welcoming community, making it the ideal place to call home. Take the first step towards your dream life by discovering the charm and elegance of this superb Kassigner-built residence.
Disclaimer: This property is currently listed for $799,900. (Listing ID: E6701622)
Coldwell Banker R.M.R. Real Estate, Brokerage is a leading real estate agency in Durham Region, dedicated to helping you find your dream home. For inquiries and to book a viewing, please contact Gerald Lawrence at 416-556-0238.
Disclaimer: The above blog is for informational purposes only and is not a formal real estate listing. Prices and availability are subject to change. Please verify all information with the respective real estate agent.
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.
Global inflation is easing, with lower energy prices and a decline in goods price inflation. However, robust demand and tight labour markets are causing persistent inflationary pressures in services. Economic growth has been stronger than expected, especially in the United States, where consumer and business spending has been surprisingly resilient. After a surge in early 2023, China’s economic growth is softening, with slowing exports and ongoing weakness in its property sector. Growth in the euro area is effectively stalled: while the service sector continues to grow, manufacturing is contracting. Global financial conditions have tightened, with bond yields up in North America and Europe as major central banks signal further interest rate increases may be needed to combat inflation.
The Bank’s July Monetary Policy Report (MPR) projects the global economy will grow by around 2.8% this year and 2.4% in 2024, followed by 2.7% growth in 2025.
Canada’s economy has been stronger than expected, with more momentum in demand. Consumption growth has been surprisingly strong at 5.8% in the first quarter. While the Bank expects consumer spending to slow in response to the cumulative increase in interest rates, recent retail trade and other data suggest more persistent excess demand in the economy. In addition, the housing market has seen some pickup. New construction and real estate listings are lagging demand, which is adding pressure to prices. In the labour market, there are signs of more availability of workers, but conditions remain tight, and wage growth has been around 4-5%. Strong population growth from immigration is adding both demand and supply to the economy: newcomers are helping to ease the shortage of workers while also boosting consumer spending and adding to demand for housing.
As higher interest rates continue to work their way through the economy, the Bank expects economic growth to slow, averaging around 1% through the second half of this year and the first half of next year. This implies real GDP growth of 1.8% in 2023 and 1.2% in 2024. The economy will move into modest excess supply early next year before growth picks up to 2.4% in 2025.
Inflation in Canada eased to 3.4% in May, a substantial and welcome drop from its peak of 8.1% last summer. While CPI inflation has come down largely as expected so far this year, the downward momentum has come more from lower energy prices, and less from easing underlying inflation. With the large price increases of last year out of the annual data, there will be less near-term downward momentum in CPI inflation. Moreover, with three-month rates of core inflation running around 3½-4% since last September, underlying price pressures appear to be more persistent than anticipated. This is reinforced by the Bank’s business surveys, which find businesses are still increasing their prices more frequently than normal.
In the July MPR projection, CPI inflation is forecast to hover around 3% for the next year before gradually declining to 2% in the middle of 2025. This is a slower return to target than was forecast in the January and April projections. Governing Council remains concerned that progress towards the 2% target could stall, jeopardizing the return to price stability.
In light of the accumulation of evidence that excess demand and elevated core inflation are both proving more persistent, and taking into account its revised outlook for economic activity and inflation, Governing Council decided to increase the policy interest rate to 5%. Quantitative tightening is complementing the restrictive stance of monetary policy and normalizing the Bank’s balance sheet. Governing Council will continue to assess the dynamics of core inflation and the outlook for CPI inflation. In particular, we will be evaluating whether the evolution of excess demand, inflation expectations, wage growth and corporate pricing behaviour are consistent with achieving the 2% inflation target. The Bank remains resolute in its commitment to restoring price stability for Canadians.
Information note
The next scheduled date for announcing the overnight rate target is September 6, 2023. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the Monetary Policy Report on October 25, 2023.
LACK OF LISTINGS LED TO TIGHTER GTA MARKET CONDITIONS IN JUNE TRREB Urges Governments to Accelerate Action on Housing Supply TORONTO, ONTARIO, July 6, 2023 – Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month.
“The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates. Furthermore, a persistent lack of inventory likely sidelined some willing buyers because they couldn’t find a home meeting their needs. Simply put, you can’t buy what is not available,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.
GTA REALTORS® reported 7,481 sales through TRREB’s MLS® System in June 2023 – up 16.5 per cent compared to June 2022. The number of listings was down by three per cent over the same period.
The year-over-year increase in sales coupled with the decrease in new listings mean market conditions were tighter this past June relative to the same period last year. The average selling price was up by 3.2 per cent to $1,182,120. The MLS® HPI Composite benchmark was still down by 1.9 per cent on a yearover-year basis – the lowest annual rate of decline in 2023. On a month-over-month basis the seasonally adjusted average price and MLS® HPI Composite benchmark were up.
“A resilient economy, tight labour market and record population growth kept home sales well above last year’s lows. Looking forward, the Bank of Canada’s interest rate decision this month and its guidance on inflation and borrowing costs for the remainder of 2023 will help us understand how much sales and price will recover beyond current levels,” said TRREB Chief Market Analyst Jason Mercer.
“GTA municipalities continue to lag in bringing new housing online at a pace sufficient to make up for the current deficit and keep up with record population growth. Leaders at all levels of government, including the new mayor-elect of Toronto, have committed to rectifying the housing supply crisis. We need to see these commitments coming to fruition immediately, or we will continue to fall further behind each month,” stressed TRREB CEO John DiMichele.
“In addition to the impact of the listing shortage, housing affordability is also hampered on an ongoing basis by taxation and fees associated with home sales and construction as well as the general level of taxation impacting households today. Going forward, we need to look at all of the factors influencing the household balance sheet and people’s ability to house themselves,” continued DiMichele.
Introduction:
Welcome to my blog post, where I invite you to explore the charm and elegance of a truly remarkable property. Nestled in a desirable location, this beautiful 2+2 bedroom, 3 full bathroom open concept bungalow offers a sanctuary of comfort and style. With its impeccable design and thoughtful features, it presents an opportunity for a lovely home for small family or downsizers .
Exquisite Design and Features:
Built in 2004, this brick and vinyl siding bungalow seamlessly blends modern aesthetics with enduring quality. The open concept layout provides a sense of spaciousness, perfect for both relaxation and entertainment.
The 1258 square footage above grade ensures ample room to create memorable experiences. As you step outside, a large wooden deck awaits, offering a breathtaking southwest view that promises unforgettable sunsets and gatherings with loved ones.
Step inside and be captivated by the elegant vinyl laminate floors that adorn the entire main floor. The vaulted ceilings in the family room create an airy and grand ambiance, complemented by the stylish Hunter Douglas blinds on three windows. These blinds offer the perfect balance of privacy and natural light, allowing you to create the ideal atmosphere for every occasion.
Comfort and Convenience:
This bungalow features 2+2 well-appointed bedrooms, providing space for relaxation and restful nights. With 3 full bathrooms, the morning rush will be a thing of the past, ensuring everyone can start their day with ease.
Located just steps away from Valleymore Park, you’ll have nature’s beauty at your fingertips. Take leisurely walks, engage in outdoor activities, and immerse yourself in the serenity of the surroundings.
The convenient proximity to Lansdowne Street and Hwy 7/115 makes commuting and accessing amenities a breeze. Whether you’re heading out for work or leisure, you’ll find that everything you need is just a short drive away.
A Cozy and Versatile Basement:
The finished basement offers a retreat for relaxation or recreation. Plush broadloom creates a warm and inviting atmosphere, making it the perfect space for movie nights, home office setups, or even a play area for the little ones. The possibilities are endless.
Conclusion:
In summary, this beautiful 2+2 bedroom, 3 full bathroom open concept bungalow presents an unparalleled opportunity for a fulfilling lifestyle. From its tasteful design and captivating features to the convenient location near Valleymore Park, Lansdowne Street, and Hwy 7/115, every aspect of this home has been thoughtfully considered.
Come and experience the tranquility, convenience, and elegance this property has to offer. Embrace the warmth of the wooden deck, the charm of vinyl laminate floors, and the versatility of the finished basement. Make this beautiful bungalow your own and savor a life of comfort and contentment in a truly remarkable setting.
See More Information And Other Details About The Home An Neighbourhood By Clicking Here!
Welcome to this beautifully appointed 3-bedroom, 2-bathroom home situated on a quiet cul-de-sac, nestled on a 100 x 150 ft double lot that abuts a serene forest. Located in the sought-after McRae Beach Private Lake Community, this sun-filled home offers a delightful living experience.
As you step inside, you’ll immediately notice the abundance of natural light that fills the space, creating a warm and inviting atmosphere. The main floor features two natural gas fireplaces, adding both charm and coziness to the living areas. The layout of the home has been thoughtfully designed with entertaining in mind, making it ideal for hosting guests or enjoying quality time with family.
Hardwood floors flow gracefully throughout the main level, enhancing the elegance of the home. From the foyer, you’ll be greeted by a heated marble floor that leads into the large, eat-in kitchen. This well-appointed kitchen is perfect for culinary enthusiasts, offering ample space for meal preparation and a comfortable dining area.
One of the highlights of this home is its connection to nature. With six walk-outs on the main floor, you can easily access the wraparound deck and enjoy the tranquility of the surroundings. The deck provides a fantastic outdoor space for relaxation, entertaining, or simply taking in the picturesque views of the forest and the expansive double lot.
The primary bedroom is a true retreat, featuring his and her closets complete with closet organizers to keep your belongings tidy and organized. Additionally, the main floor conveniently includes a laundry room for added convenience.
The partially finished basement offers versatility and additional living space, providing ample room for a variety of activities or storage needs. With plenty of closets and storage spaces throughout the home, you’ll have no shortage of room to keep your belongings neatly stowed away.
Residents of this remarkable property have the privilege of enjoying the nearby lake, as well as two private parks with a boat launch and community docks, offering easy access to water activities and boating adventures. A nominal beach association fee of $60 per year grants access to these exclusive amenities.
Immerse yourself in the beauty of this location, where you can witness spectacular sunsets and indulge in the crystal-clear waters of the lake. This home presents an incredible opportunity to embrace a peaceful and idyllic lifestyle within a desirable community.
Click here for more information
Advantages of Higher Interest Rates for Buyers:
Disadvantages of Higher Interest Rates for Buyers:
It’s important to note that the impact of higher interest rates on buyers can vary depending on individual financial circumstances, market conditions, and the overall health of the economy.
For further explanation of an important disadvantage to buyers:
Reduced Affordability: Higher interest rates can reduce the affordability of homes and other big-ticket items. The increased cost of borrowing can limit the purchasing power of buyers, making it harder to qualify for loans or afford the desired property.
When interest rates rise, the cost of borrowing money increases, which directly impacts mortgage rates. For potential homebuyers, this means that the monthly mortgage payments will be higher compared to when interest rates were lower. As a result, buyers may find it more challenging to qualify for a mortgage or may need to adjust their budget to accommodate the increased payments.
For example, let’s consider a hypothetical scenario where a potential homebuyer is looking to purchase a house with a mortgage of $300,000. If the interest rate is 4% over a 30-year term, the monthly mortgage payment would be approximately $1,432. However, if the interest rate increases to 6%, the monthly payment would rise to around $1,798. This $366 increase in monthly payments can make a significant difference in the affordability of the property.
Furthermore, higher interest rates can also affect other big-ticket purchases, such as cars or major appliances, as these often involve financing options. The increased cost of borrowing can lead to higher monthly payments or longer repayment terms, making it more challenging for buyers to afford these items within their budget.
Reduced affordability due to higher interest rates can have a broader impact on the housing market and the economy as a whole. It can slow down the demand for housing, potentially leading to a decline in property prices or a slowdown in the housing market activity. This, in turn, can have implications for homeowners, builders, and related industries.
However, it’s important to consider that affordability is influenced by various factors, including income levels, savings, housing supply, and regional market conditions. While higher interest rates can impact affordability negatively, it’s crucial to take a holistic approach when evaluating the overall impact on buyers and the real estate market. Buyers may need to adjust their expectations, explore alternative financing options, or consider different housing choices to adapt to the changing affordability landscape.
If you or anyone you know are thinking about buying or selling in the near future, please do not hesitate to contact me. In the meantime, get a No-Obligation FREE Home Market Evaluation Today by clicking here!
The real estate market inside scoop for the community you love. See homes that are for sale and have recently sold. Find out if home sales in your neighbourhood are trending up or down. See what homes around you are currently selling for.
Introduction:
Welcome to our blog, where we invite you to discover the enchanting beauty of Lake Simcoe and the perfect seasonal retreat it offers. Join us as we explore a charming bungalow that beckons you with its idyllic setting, modern features, and limitless potential for creating cherished memories. Let’s dive into the details of this picturesque getaway and embrace the tranquility of lakeside living.
A Blissful Escape:
Nestled on the shores of Lake Simcoe, this seasonal cottage is a haven of peace and relaxation. With its open concept living and kitchen areas, bathed in natural light that pours through the vaulted ceiling and newer windows, you’ll feel instantly at ease. The cozy bungalow offers two comfortable bedrooms, ensuring a restful night’s sleep after a day of lakeside adventures.
Unleash Your Imagination:
What sets this cottage apart is its potential for expansion. Whether you’re envisioning additional rooms to accommodate loved ones or dreaming of a custom-built home that perfectly suits your desires, this property offers endless possibilities. Let your imagination soar as you shape this retreat into your personal paradise.
Embrace the Outdoors:
The large front and back yards of this cottage provide ample space for outdoor activities, relaxation, and creating unforgettable moments. Picture yourself hosting lively barbecues, playing games with family and friends, or simply unwinding in the gentle breeze as you bask in the beauty of the surroundings. A convenient garden shed ensures your outdoor essentials are neatly stored, keeping your retreat clutter-free.
Lakefront Bliss:
Indulge in the blissful experience of private lake access on the McCrae beach. Immerse yourself in the crystal-clear waters of Lake Simcoe, take leisurely walks along the shore, or simply lounge on the sandy beach, soaking up the sun’s warm rays. The tranquility and natural beauty of the lake will undoubtedly rejuvenate your spirit.
Uncover Nearby Amenities:
While this retreat offers a serene escape, it’s comforting to know that essential amenities and conveniences are just a short distance away. Virginia is nearby, providing easy access to everyday necessities such as bread, milk, soft drinks, gasoline, and propane. Sutton offers a variety of shopping options along High Street and Dalton Road, including supermarkets, drug stores, hardware and building supplies, and a wide selection of restaurants. Pefferlaw boasts its own charm, with banking services, a gardening nursery, and diverse dining options. For a greater shopping experience, Keswick awaits with an array of shops, including major retailers such as Canadian Tire and Walmart. And if you’re seeking big-box stores and a wider range of options, Newmarket is a short drive away.
Safety and Security:
Peace of mind is paramount when it comes to your seasonal retreat. The York Regional Police Marine Unit has implemented a Cottage Watch Program to enhance the safety and security of all seasonal residents in the Lake Simcoe patrol area. With periodic spot checks and emergency notifications, the program aims to reduce crimes against property and ensure your peace and security throughout your stay.
Conclusion:
As we conclude our journey through this exquisite seasonal cottage by Lake Simcoe, we hope you’ve been captivated by its beauty, potential, and the promise of unforgettable experiences. Whether you choose to embrace the current bungalow or embark on a journey of expansion, this retreat offers a serene haven where you can escape the hustle and bustle of daily life and immerse yourself in the splendor of lakeside living. Lake Simcoe awaits you, ready to bestow its tranquility and natural wonders upon your soul.
To learn more about this gorgeous cottage in the Lake Simcoe Waterfront Community, please visit this link: https://GeraldLawrence.Realtor/27BlueHeronDrive
Introduction:
Welcome to a remarkable property that captures the essence of tranquility and presents boundless opportunities. Nestled in the picturesque town of Sunderland, this extraordinary estate spanning 225 acres is a sanctuary of natural beauty. With its abundance of features and expansive grounds, this property truly offers a lifestyle beyond compare.
A Natural Paradise:
As you step onto this vast property, you are greeted by a breathtaking landscape. Spanning 225 acres, the estate boasts a picturesque Vrooman Creek, protected greenspace, and open fields, providing a canvas for your imagination to roam. Immerse yourself in the serene surroundings, explore the trails along the river, or simply find solace in the beauty of nature.
Exceptional Living Spaces:
This magnificent property features four spacious bedrooms and three full bathrooms, ensuring ample room for comfortable living. With two kitchens, with one that includes an eat-in breakfast area, hosting gatherings and culinary adventures become effortless. The partially finished basement offers a blank canvas for customization, allowing you to create the ultimate recreational or entertainment space.
Versatility at Its Finest:
The estate showcases its versatility with two staircases, providing convenient access to each floor. Two road frontages offer accessibility and flexibility for various endeavors. Additionally, the property is not only capable of sustaining cash crop farming and boarding animals, but the house also presents the potential for three rental suites, providing a lucrative opportunity to generate additional income.
Endless Possibilities:
With its expansive grounds and diverse features, this estate presents endless possibilities. Embrace the opportunity to cultivate the land, start your own agricultural venture, or transform it into an idyllic equestrian estate. Alternatively, you can explore the potential for income generation through rental suites, tapping into the thriving rental market. The choice is yours to create a lifestyle that aligns with your dreams and aspirations.
Location:
Situated in Sunderland, Brock Township, Ontario, Canada, this property offers the perfect balance of tranquility and convenience. Enjoy the serenity of the countryside while being within reach of essential amenities and nearby attractions. Immerse yourself in the vibrant community and take advantage of everything the surrounding area has to offer.
Conclusion:
Step into a world of serenity and endless possibilities with this exceptional estate in Sunderland. With its 225 acres of natural beauty, four spacious bedrooms, multiple kitchens, and potential for cash crop farming and rental suites, this property is a true gem. Seize the opportunity to create a lifestyle that embraces nature, versatility, and boundless potential.
Contact me today at 416-556-0238 or Gerald-Lawrence@ColdwellBanker.ca to explore this remarkable estate and embark on a journey of endless possibilities in Sunderland.
Disclaimer: The availability and details of the property mentioned in this blog post are subject to change. Please contact the provided contact information for the most up-to-date information.
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