It’s March break. The kids are out of school for five days. That’s 120 hours to fill. This list of 54 things to do is a good place to start. Daily activities at the Art Gallery of Ontario include making art inspired by the Maharaja exhibit, short children’s films from India, puppets and storytelling, and performances by the Toronto Tabla Ensemble. Check out book signings by authors Joan Yolleck on March 13, and Laurel Croza and Matt James on March 15. Go towww.ago.net/march-break-2011 for more info.
It’s time for a little Oscar buzz of our own. In the category of hot real estate markets, the winner is.....Downtown Toronto. Critics praise this little independent story of the city market, facing threats of foreign ownership, traffic gridlock, falling glass, a second land transfer tax, and a wayward mayor. People are lining up just to get a glimpse of its stars and The Globe and Mail gives it “two thumbs up”!
Over the last few weeks over 63% of properties sold in multiple offer situations. A remarkable number when you consider that in the same period, the number of listings has nearly doubled from 196 to 377. The increase in available homes has not met the need and until that happens, we will continue to see multiple offers. In the central core the availability of mid-range properties ($700k to $1.5M ) seems to be shrinking while jumping significantly in both the east and west cores.
We think the Toronto real estate market should borrow the US Postal Service motto “neither snow nor rain nor heat nor gloom of night....” It seems appropriate these days when you consider that we are having the coldest and snowiest winter in memory, but when it comes to buying a house no one seems to care. In fact, home buyers came out in record numbers this week.
Being that we are Toronto’s oldest and largest independent real estate brokerage, it’s safe to say that we have seen it all. We know the weather has an impact on people’s motivation to get out and look at houses, but this week we are going to blame the decrease in listings solely on the shoulders of Justin Beiber. Yes, that’s right. We know HE is real cause for our real estate turmoil. Toronto is wrapped up in a giant game of “Where’s Beiber” instead of getting their homes ready for market. Well at least we aren’t thinking about the cold anymore and provided “the Biebs” doesn’t get deported from the US, everything should return to normal in a week or two. We can’t wait.