MONTHLY REAL ESTATE MARKET NEWS THAT MATTERS | November 2015
MARKET COMMENTARY
Compliments of SUSAN YOUNG, Sales Representative & RACHEL SEKLER, Sales Representative.
October was another record month for sales in the GTA with a combined 8,804 home sales being reported by the Toronto Real Estate Board (TREB). This marks the sixth record-setting month of 2015 and there is little doubt that a new annual benchmark will be set before the year is out. Looking closer at the monthly figures, prices were up across all major home types with the average Toronto property selling for $671,350, and the biggest driver of price being detached homes. The average price of a detached home in Toronto has risen 12.5% to just over $1,070,000 from the same time a year ago. As a comparison, the average Toronto townhome rose 11.2% to $579,350, and condo apartments rose by a more modest 4.2% to $406,790. Of course, much of the price increase can be attributed to a lack of supply in the marketplace. New listings decreased across the GTA this month by nearly half a percent, and active listings are down a full 7.5% from the same time a year ago. TREB’s Director of Market Analysis, Jason Mercer, captured this sentiment in his monthly statement: “Record sales coupled with a constrained supply of listings in many GTA neighbourhoods has underpinned very strong price growth throughout 2015. Even if we do see a greater supply of low-rise listings in the marketplace over the next year, market conditions will remain tight enough to see continued price growth well-above the rate of inflation.”
BY THE NUMBERS*
TORONTO: Sourced from TREB October, 2015.
A Name You Can Trust
HARVEY KALLES REAL ESTATE LTD., BROKERAGE | (416) 441 2888 | www.harveykalles.com
CREATING BALANCE
By Karen Kayne
Karen Kayne is a Toronto based interior designer. Her design philosophy is to create spaces around timeless investment pieces, incorporating current design elements that can be easily transitioned over time.
The mix of classic elegance and contemporary design never goes out of style.
As tastes and attitudes about design evolve from year to year, creating the perfect space can sometimes feel like a never-ending process. Here we explore how mixing traditional and contemporary elements can unlock a timeless aesthetic.
Complex & Simple
We are able to maintain a rich symmetry between the traditional and contemporary styles by finding ways to gently complicate simple pieces. The traditional essence of a chest of drawers can be balanced by soft, white lacquer and polished nickel drop pulls. A lamp can add a touch of complexity, placed against a dark wall.
Formal & Relaxed
The living room is a classic centrepiece that typically enjoys more attention and fuss, relative to other areas of the home. Here we have taken a largely traditional space and re-imagined it to include modern design cues. The rounded fireplace mouldings have a traditional aesthetic that matches the crown that traces the room. The frameless gas insert balances these elements and anchors many of the modern touches throughout; specifically the abstract artwork that hangs above the mantle, as well as the adjacent photography.
The wool drapery hangs with elegance and precision, continuing an overall design language that prioritizes clean lines and soft colours. We use curved sofas and chairs to draw on a traditional style, complete with ornamental tufting and strong curves. This is a direct contrast to the coffee table and console table, both of which provide a rich variation of style in the form of simple lines and minimal detail. The chandelier is a traditional fixture that complements the modern aesthetic brought to life by the crystal standing lamps.
Gentle Curves & Clean Lines
This master bathroom is a testament to the elegance created when classic design elements are harnessed in concert with modern style. Statuario marble creates a luxurious countertop and floor. Statuario is commonly found in kitchens and bathrooms. We used Gris de Savoie marble accents to create a unique, modern twist that continues the linear design language.
Adding a waterfall edge to the counters and incorporating square vessel sinks with single-lever faucets gives a current vibe to this classic beauty. Glass cabinet hardware inserts just the right amount of detailintheformofmodernnuances.This aesthetic continues with the light fixture, yet conveys a more classic ambience due to its traditional design. We used a free- standing bathtub with gentle curves to diverge from the linear design language and punctuate this deliberate balance. A monochromatic colour palette helps to make this bathroom stand the test of time.
By bridging classic and modern aesthetics, we can create timeless spaces and add exceptional value to one’s home. This balanced aesthetic can be achieved with furniture, accents, and materials that are used in unique or unexpected ways, creating a style you will love for years to come.
