GTA house prices on fire

Average GTA house price hits $547,107 as market starts to thaw

Listings showing signs of picking up as prices continue to soar

The Toronto real estate market is showing signs of stirring from its deep freeze, with new listings starting to pick up — and an almost 8 per cent spike in prices — as of mid February, year over year, according to figures released Wednesday.

Some 2,767 properties were sold during the first two weeks of February, up just 1.3 per cent from the same period a year ago, says the Toronto Real Estate Board.

But the average sale price was up 7.8 per cent to $547,107 from the $507,474 recorded in the first two weeks of February 2013.

“Price growth well above the rate of inflation will be the norm for the remainder of the year,” said TREB senior manager of market analysis Jason Mercer.

New listings remained down about 6.1 per cent as of mid February, year over year. But that’s a significant improvement from the 16.6 per cent decline in new listings in January which was blamed, along with the unrelenting polar vortex, for a 2.2 per cent drop in sales across the GTA.

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Got $2,995,000 ? Here …

41 Boswell Avenue – ANNEX

Kind of like the house located one street over at 33 Lowther Avenue that I am pretty sure has in fact NOT sold…

This does not look like a big house from the front.

It kind of looks like a charming cottage, like a 2 bedroom, 1 bathroom type thing, but inside is NOT what you would expect.

This is actually a 3 bedroom, 2 bathroom house on a 25 x 93.63 foot lot just west of Avenue in the Annex.

It is a Superkul reno like the house at 14 Astley Avenue in Rosedale.

And though I thought the house at 49 Brookfield Street was also a Superkul reno, that house turns out to have been done by designed byMazen Studios, the same designer behind the house at 314 Palmerston Boulevard, a house owned by developer, Matthew Kosoy of 114 Ivy Avenue that recently sold in Greenwood-Coxwell.

Confused?

Back to this house…

I really like it.

The wood is dark but the whole feel is bright with the white walls and white kitchen counter.

There is that second floor walk way thing like the house at 187 Cottingham Street in Rathnelly that I loved, and thought would make a good Superkul reno.

I don’t think this reno was done yesterday but it is great, and will look be great for some time.

It is listed at $2,995,000.

So, less than 33 Lowther Avenue.

This will sell first.

Though I do feel it is priced about 16% too high, if that right buyer is out there right now, this could sell close to ask.