October Market Report

21 October 2019
Larose Team

TREB recorded strong September results across the GTA with a 22% increase in unit sales across all home types. The overall average sales price was flat to last year and the supply of new listings is down which will put pressure on prices as we move through into spring.

“Much of the brisk activity in September has been fuelled by low interest rates” says Kevin Larose from the Larose Team. A solid client can obtain a 5 year closed mortgage right now at 2.59%. That’s incredibly low”.

In Mississauga, unit sales were up 26% over last year with a 4% increase in average price. The sales to new listing ratio has risen to 60.6% which indicates a shift to a Sellers’ market. Also noteworthy - unit sales for detached homes outperformed the broader market by 28% over last year and days on market have dropped to 20 from 25. “What we are seeing is the mood of buyers has shifted as they are no longer waiting for more price cuts - and most sellers have accepted the fact that the record prices set in 2017 are in the past. This shift resulted in brisk September sales” says Kevin. 

The Condo market in Mississauga also saw above average gains in September. There was a 28% increase in units sold and a 14% increase in average price. As we move into spring 2020 we expect these numbers to increase in the south Mississauga area as several large development projects along the Lakeshore corridor come to market.

> Aerial Rendering of future development plans for Port Credit’s Imperial Oil Lands

“The rental market all across the GTA is tight and more supply is needed. Investors- if you are looking for an investment condo contact us and we will place you on our VIP program. Contact us at info@laroseteam.com or register at Laroseteam.com/Listings/Pre-construction

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Larose Team members visit local businesses in the community

As crucial as it is to do good business, just as important are our connections to the community. The Larose Team members have visited local businesses and put the ‘spotlight’ on some of the favourites in the community. 

For more info on these businesses - tune in to the series on our YouTube channel or follow the team on Instagram to watch the final features. 

YouTube Channel - youtube.com/c/LaroseTeam
Instagram - instagram.com/laroserealestateteam/

Seen below - Katrina visits local creative arts centre 'The School'

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COMMUNITY SPOTLIGHT VIDEO SERIES

03 October 2019
Larose Team

The Dog Stop

Looking for a dog training and daycare spot for your furry friend? Natasha Jelinek visits The Dog Stop, a daycare Natasha takes her dog during the week.

The Dog Stop offers
▪️Structured daycare
▪️Daytime training
▪️Grooming


For more details visit thedogstop.ca
Up next, Katrina visits ‘The School’


COMMUNITY SPOTLIGHT VIDEO SERIES

26 September 2019
Larose Team

Country Fish & Chips

This week, our newest member of the team, Patricia Kelso, visits her family’s favourite fish & chip restaurant - Country Fish & Chips.

https://www.countryfishandchips.com/


Community Spotlight Video Series

19 September 2019
Larose Team

Orange Theory Fitness

As crucial as it is to do good business, just as important are our connections to our community. The Larose Team will be featuring a few of our favourite local businesses.
We kick off the series with Kelly Attrell visiting Orange Theory Fitness - just in time to share a September promotion!

https://mississaugalakeshore.orangetheoryfitness.com


September 2019 Market Report

17 September 2019
Larose Team

Greater Toronto Area sales in August represented a 13.4 per cent increase in unit sales compared to 6,797 sales reported in August 2018. GTA-wide sales were up on a year-over-year basis for all major market segments with the strongest gains in the detached home category.

Market conditions also became tighter in August 2019 compared to a year ago as new listings were down by three per cent. Year-to-date, growth in sales has far outstripped growth in new listings. “This will put pressure on prices as we move in to 2020” says Marlene Larose of the Larose Real Estate Team.

“Mississauga results have been similar. “We are experiencing less inventory than last year as we move into September which has tipped the scales towards a Sellers’ market”. Months of supply in Mississauga for all home types was 1.8 this year vs 2.2 last year. This is a significant shift which will result in increased home prices.

“Interest rates have been moving down; almost under the radar over the past few months’ states Marlene. They are now at historical lows- you can get a 5 year closed mortgage on a principal residence with a major lender at under 2.5%”.

Lower interest rates have caused homes to become more affordable for buyers- even with the stress tests that were put in place last year.

The Bank of Canada stated the first week of September that the unexpected strength of the Canadian economy and the fact that inflation is right where it should be are the reasons it has kept interested rates unchanged.

“And don’t forget – we have an election coming up both here and in the U.S.A which had to weigh in on their decision” says Marlene.

Let us know if you have questions or want more info on stats in your area. You can reach us at  info@laroseteam.com

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Mortgage Rate Update

Fixed Rates:

Bond yields, which influence fixed rates have been steadily declining since November of 2018.  With global uncertainty in the stock market and trade tensions between US and China business activity has slowed and more investors are turning to the bond market.  This is good news for investors and all those purchasing property as fixed rates have been on the decline.  As of September 10, 2019, those purchasing principal residences with less than 20% down, which is the most competitive mortgage market, rates can get rates as low as 2.39% (OAC).  For those purchasing residential rental property (1-4 units) rates can be as low as 2.69% (OAC).  If you are considering purchasing larger multifamily residential buildings, rates can be as low 2.5% (OAC).

Variable Rates:

The Bank of Canada made their last rate announcement on September 4,2019 and the overnight rate was maintained at 1.75% and correspondingly the prime rate for majority of lenders remained at 3.95%.   Variable mortgage rates change with the Bank of Canada overnight rate.  The last time the Bank of Canada increased its overnight rate was October 2018.  Industry experts are currently divided with some thinking the Bank of Canada will reduce rates in the next 3-6 months and some thinking the rate will be maintained as is.  Current variable rates range from 2.85% for the purchase of a principal residence to 3% on the purchase of a residential rental property (1-4 units). 

For questions on financing- or to secure a rate hold - Contact Amiel Jelinek of Mortgage Alliance at  416-402-7448  | www.jelinekmortgages.ca

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Know Your Home's Value

Getting your home’s value from a robot or an algorithm is fine until you need an accurate report. It’s kind of like searching for your symptoms on WebMD is fine until you actually need a doctor.

There are many different sites that you can use to get your home’s value, but all are not as accurate as you may think as they are missing sold data. The sites even state (in the fine print) that their reports should be supplemented with a Comparative Market Analysis from a real estate professional.

So, how do we determine your home's value?

There are a multitude of factors that we take into consideration when estimating your home’s value, and no two reports are the same. We take a look at your address- which allows us to see how much neighbouring homes have sold for and the desirability of the neighbourhood you live in. We analyze the unique features of your home and compare them to those listed and sold in the surrounding geographical area.

We then go more in-depth with our research, including checking the condition of your home, taking into consideration any updates you’ve made that could make it worth more than your neighbour’s. All of this is done to establish a range of value by several members of our team. None of our home value reports run on an
algorithm, and this information isn’t available to us or you at the push of a button.

Request your home's accurate value report today!

Get My Report

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August 2019 Market Report

26 August 2019
Larose Team

If you are looking to sell your luxury home, the process can be tricky as luxury buyers are prepared to wait it out for the perfect home with all the right high end amenities.

Luxury home buyers are not buying because they have to, it's usually driven by ‘want’. ‘Luxury home buyers are not willing to compromise on their wish list and will wait for the right property’ says Marlene Larose and Kelly Attrell from the Larose Team.

Marlene knows and understands what luxury buyers want and how they evaluate the market. She was with Holt Renfrew for 13 years and travelled the world buying luxury merchandise.

'Whether its a coveted designer handbag, that perfect piece of jewellery or a new home, luxury buyers have a design aesthetic that crosses all areas of their lifestyle. Buyers are detail oriented and uncompromising and have the patience to wait it out to get what they want.’

‘Selling luxury properties is very much about the relationships we have in our neighbourhoods’ says Kelly. Buyers want insights they can’t get from the internet and want to know the inside info on local builders, the best schools and what is happening with development. You have to be informed and up to date on your knowledge of the area, you have to be ‘on it’ and available at all times.”

For Sellers- its important to present the home beautifully staged, clean and in perfect shape. We offer this service at a very high level to our clients’ Marlene says. We know what luxury buyers are looking for and will manage the transformation.

‘You can’t sell a multi-million dollar home for top dollar if it is in need of cleaning, staging and in poor shape.’

  Contact us for a consult on how we approach Buying and Selling luxury real estate.

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Home Sales Soar In July 

August 6, 2019 – The Toronto Real Estate Board reported 8,595 sales through TREB’s MLS® System in July 2019 up by 24.3 percent compared to July 2018. New listings in July 2019 were up 3.7 percent and the average selling price increased by 3.2 percent to $806,755.

Active listings at the end of July were down by 9.1 percent year-over-year.

In Mississauga, unit sales in July were up a healthy 16% over last year with little change in average price - while the number of active listings is down 16% over last year. This will continue to put upward pressure on prices as we move into the fall market.

Of note, the detached market is picking up significantly with a 20 percent increase in unit sales year to date in the 1 million to 2 million price range.

“Here in South Mississauga, we are experiencing a shortage of good properties in the 1.2 to 1.7 million range- those located near good schools and amenities. If you are considering a move, now is the time as we have a long list of buyers waiting for that right home’ says Kevin Larose of the Larose Team. Prices are up over last year and we are expecting a strong fall market.

If you are thinking of moving, contact Kevin for a confidential market evaluation of your property at 905 278-7355 or info@laroseteam.com


July 2019 Market Watch

22 July 2019
Larose Team

July, 2019 – Greater Toronto Area REALTORS® reported 8,860 sales through TREB’s MLS® System in June 2019 representing a 10.4 per cent increase over June 2018. New listings remained at a similar level to last year for the month of June and active listings at month-end were down by 5.7 per cent. Sales for the first 6 months of 2019 were up by 8.5 per cent, while new listings were up by less than one per cent. This shows that sales accounted for a greater share of listings compared to last year resulting in price growth in many segments of the market. The average selling price in June 2019 was $832,703 – up by three per cent compared to June 2018.

“Buyers have finally started moving off the sidelines in the second quarter” says Kevin Larose of the Larose Team. In Mississauga, sales were up significantly for both detached and townhouse types which is typical of the time of year when closings follow the school year calendar. 2019 is shaping up to be a better year than we thought as the 2nd quarter has made up for the slow start to the year. Sales in the 905 area of the GTA are following the 416 numbers with condos leading as a category. Detached and townhouse sales and average prices are flat compared to last year.

“The momentum is strong as we head into the summer months with new listings scarce in the prime areas of south Mississauga’ says Kevin.  “If you are thinking of a move this year, the time to look at listing is now as we aren’t seeing the typical summer slow down.”

Of note are several new condo pre-construction opportunities here along the Lakeshore corridor. Condos will only continue to get more expensive along the waterfront as new developments come to market. The average price per square foot here in Mississauga is about 30 to 40% lower compared to the  $1300.00/sf they are getting on average in the city of Toronto. “Look to see healthy gains in the condo market over the next few years- especially near the lake says Kevin. The time to buy the pre-construction investment condo is now as they will only increase in value.” Contact us for more stats and details.

Looking for a confidential market evaluation of your home or property- contact us at info@laroseteam.com or 905 278-7355.

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Discount Broker Models - The Real Cost of Selling Your Home

In today’s real estate market in Canada and the GTA, there have been a wave of new ‘disruptor’ real estate companies entering the market. Their models are designed to give more information and responsibility in the home selling process onto the seller and drive down the costs associated by cutting commission.

One of the major players is Purplebricks who recently purchased Comfree here in Canada. They offer a fee for services model for the seller and in addition, there is the cost of the buyer agents commission of 2.5%.  So far, after one year Purplebricks has brokered approximately .06% of the sales in the GTA- a very small number especially with purchasing an existing player in the market.

“Discount broker models market on the assumption that the outcome will be the same- no matter who you choose to help in the home selling process.”

“This simply isn’t so” says Marlene.”Many sellers here in our areas hire us because we are experts in our neighbourhoods and professionals in our business. We set up a strategy to get you the most out of the market - and we negotiate at a very high level.”

At the Larose Team, we invest a portion of our commission back into your home in the form of staging and preparation so your home will show its best and sell quickly. We have a team of professionals that do this and we do it for every property we sell.

‘The most important part of our services are the advice and consultation you receive on how to get the most successful outcome” says Marlene. I can’t understand why anyone would want to compromise this- you get what you pay for.”

Zillow, an American player is an online data portal that allows consumers to get more info about sold prices and data in their area. They make their money by selling ads- many bought by real estate agents who purchase the leads back from them.

“You have to understand that the real estate agents have created our real estate market as we know it - along with all the bidding wars resulting in increased home value for sellers. We have played a big part in the market run-up and have made many sellers much more money than they thought their home was worth” says Marlene.

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June 2019 Market Report

24 June 2019
Larose Team

Toronto May 2019- After a very long slow start, new listings and prices in the GTA’S real estate market surged ahead in May. The same goes for Mississauga as May marks the 2nd consecutive month that sales have climbed sharply compared to 2018.

Home sales in Mississauga climbed to 1042 units in May, up 18.3 percent over last year. Although unit sales were significantly up, average home prices were up only up 3 percent overall.

Inventory has started to increase which is creating a more favourable market to sellers. This is good news as we head into the summer which should see price growth accelerate at a quick pace.

‘The mix of home sales is also changing which does affect the average selling prices’ says Kevin Larose of the Larose Team. ‘As sales for detached homes have dropped off over the past few months, we are now seeing homes priced right sell through’. We live in a desirable area of the GTA with planned intensification over the next 10 years. As many as 10,000 new housing units will be built in the Lakeview area alone- (see our article on the 2nd page). This is significant.

Mississauga is a great option- ‘remember, we only have one land transfer tax says Kevin. Just a short kilometre away in Toronto, there are two. The savings are significant- approximately $16,000.00 on a million dollar purchase, and everyone wants to live by the lake.’

In addition, we don’t expect to see any changes in interest rates for the balance of the year.

If you are considering selling this year, now would be an excellent time as we expect the selling season to extend well into the summer. Contact Kevin at 905-278-7355 or kevin@laroseteam.com

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Open Houses - Why They Help Sell Homes

‘Open houses still play a major role in the home selling process’ says Marlene Larose, Broker with the Larose Team.
‘Even with all the digital marketing we do including, slick videos and publication worthy photography- you can’t choose to buy a home until you experience how it would feel to live there’ says Marlene. You have to imagine your family living in the space and an open house gives you the time to walk through at your leisure to see if it works.’

‘If this home doesn’t quite fit what you are looking for, we can help you find a home in the area that does’ says Marlene.

Potential sellers also find it helpful as they can get to assess how their home measures up. ‘We always have neighbours through- especially on the first open house day. Sellers need to understand that neighbours could also help find a buyer for your home. Once a house is listed- its needs to get out to the world and that includes neighbours. Who best to talk up the benefits of the neighbourhood?

We at the Larose Team plan public open houses in the first 2 weeks of a new listing. We have a unique open house strategy which includes maximum signage, notifying our database in advance and online marketing to boost the exposure of the open house to social media sites.
Interested in knowing more?

Contact us for a confidential evaluation of your home at 905.278.7355 or info@laroseteam.com

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Lakeview Waterfront Development - Your Comments Needed

During extensive local consultations, area residents signed on to a plan that proposed significantly more density than would normally be found on a traditional suburban site, but also less than the cluster of high-rise towers that have sprung up around the mouth of the Humber River.  Upon growing complaints from the public, The Lakeview Community Partners (LCP) announced a new design firm - Boston-based Sasaki to lead the revision of the initial master plan.

One of the key complaints with the old plan was the tall buildings obstructing views of the lake. The revised master plan reduces building heights- but not density. The number of units has almost doubled since the initial plan, but the revision creates a more balanced relationship between apartments and townhouses. The blocks will be denser to take advantage of direct and diagonal views of the lake and landscape amenities. The majority of taller buildings are placed in the centre of the village and the Marina with lower buildings located along the Lakefront edge. We’d like to hear your thoughts! Please send your comments to info@laroseteam.com

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Pre-Construction Condos & Towns Update

Clarkson Village- Newest condo-S2 Stonebrook is now open to private purchase appointments.
Contact us today to book your VIP access!

Register

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Stride's low-rise condo is now available! Rise is a mid-rise condo with only 12 floors, plus a penthouse level. Tucked away just off Lakeshore Rd E, the building will have only 132 suites ranging in size from 750 sq ft to over 1300 sq ft.
Contact our team today to gain the latest exclusive incentives!

Register

 

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A boutique collection of only two hundred and four residences, including six townhomes, TANU weaves together all the right elements for modern urban life. There are still suites available!
Contact our team today to gain the latest exclusive incentives!
  
  




Summertime Events

24 May 2019
Larose Team

The warmer weather is almost here to stay – and that means the summertime events are ready to kick off! With so many exciting attractions to attend from farmers market’s, art shows, waterfront festivals and more - we wanted to share some of our favourites and a few that don’t get that attention they deserve.

FOREST AVE FUN FAIR

The Forest Avenue Fun Fair has been bringing families in Port Credit together for a night of fun and fundraising for over 30 years. The funds raised during the Fun Fair are used to enhance the learning experience of Forest Avenue Public School students, both inside and outside the classroom. The Larose Team has been a proud Platinum sponsor of the event for many years. This year, we're sponsoring the Haunted House event. Come enjoy a little scare and say hello to our team member Katrina Dauphinee!
June 7, 2019  |  6-9 PM
https://forestavefunfair.ca


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PORT CREDIT FARMERS MARKET 

Enjoy Port Credit’s Farmers Market each and every Saturday morning
From June – October, at 8:00am until 1:00pm
http://www.portcredit.com/farmers-market/

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MISSISSAUGA WATERFRONT FESTIVAL

One the best family friendly Mississauga events!
June 14, 15, 16
http://www.themwf.com/


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CANADA DAY PARADE & MEMORIAL PARK CELEBRATION

Canada Day in Port Credit! There`s nothing better!
July 1, 2018  |  Parade: 10am-3pm   Fireworks: 10:15pm
http://paintthetownred.ca/



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MISSISSAUGA ROTARY RIBFEST

Ribfest hosts 12 vendors selling BBQ ribs and chicken, as well as several other diverse food and non-food vendors.
July 12, 13, 14
http://mississaugaribfest.com/

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ARTS & CULTURE SHOW

Join a local arts - juried art show display!
July 20th - Time TBD
Located at St. Lawrence park 

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WATER LANTERN FESTIVAL

Discover the magical festival of water lanterns with food trucks, music and an incredible night of floating lanterns.
August 10 | 6 PM
https://bit.ly/2JYeO0C

  Events

May Market Report

22 May 2019
Larose Team



With new listings spiking in April, May is starting off to be a brisk month for real estate sales. In the GTA, sales jumped 16.8% in April and the average sales price was up 1.9%. Here in Mississauga, while sales have been below record levels year to date, there should still be enough activity in 2019 for moderate year over year average price growth. Projections are the average sales price in the Mississauga market will be up 4% for 2019 according to TREB.

Detached home sales, which have been down in 2019 rose 22 percent in April compared to last year. “Expect May to be a hectic month for both new listings and sales after a quiet start to the year” says Kevin Larose from the Larose Team.

“Buying or selling a home is a stressful process says Kevin and the growing complexity of the market is a factor. In addition to the obvious financial stresses, interpreting the sea of data available online is also stressful. Many sellers want a bidding war but that only happens if the conditions are right, the property is unique and there is a void in that portion of the market. This is where the experience of a professional Realtor comes in. A real estate transaction is complex and experience counts. The best Realtors have been in the business for awhile and have developed a large database of contacts. They are excellent communicators and negotiators and most work with large reputable companies such as Keller Williams. 

“KW is now the largest real estate company in the world surpassing Century 21 and Remax in 2017. Their focus moving forward is technology used by tech savvy agents to connect buyers and sellers and create custom experiences according to their clients needs. 

“The tech savvy agent has become a must in the fast changing world of real estate today” says Kevin. We at the Larose Team leverage technology to our clients advantage.” 

Contact Kevin for a professional consultation on the value of your home  at 905 278-7355  kevin@laroseteam.com

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When is the best time to sell?

If you are a Seller looking to sell quickly and get the highest price, the best time to sell is April to end June according to historical data from the Canadian Real Estate Association. The metric used is ‘Number of months of inventory’ and data shows the optimal time to sell is spring when there are more buyers in the market. “The peak timing usually lines up with the greening of the grass and when homes show their best” says Marlene Larose, broker with the Larose Team.
“In the prime areas of South Mississauga, we see a spike in detached home sales now in the 2nd quarter as closings for detached homes line up with the school year. We expect sales should continue strong to the end of July this year as we got off to a later start.” Blame it on the weather.

If you are a Seller looking to make a move this year- Contact us for a Confidential
Evaluation of your home. 905 278-7355.
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RED Day 2019

Each year on the second Thursday of May we celebrate Keller Williams’ RED Day as part of our legacy worth leaving. Making a difference in the lives of others and bettering the communities that we serve lies at the heart of the Keller Williams culture. 
This year we joined forces again with the City of Mississauga to clean up Woodland Meadows Park & continue our Tree Stewardship as part of Mississauga’s ‘One Million Trees program’.For more information regarding the tree program visit https://www.onemilliontrees.ca/
 

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Pre-Construction Condos & Towns Update

 

Stride's low-rise condo is now available! Rise is a mid-rise condo with only 12 floors, plus a penthouse level. Tucked away just off Lakeshore Rd E, the building will have only 132 suites ranging in size from 750 sq ft to over 1300 sq ft.
Contact our team today to gain the latest exclusive incentives!

Register

 

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A boutique collection of only two hundred and four residences, including six townhomes, TANU weaves together all the right elements for modern urban life. There are still suites available!
Contact our team today to gain the latest exclusive incentives!
 
 
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