February 6, 2018- The Toronto Real Estate Board’s January 2018 statistics show that, although 416 detached home prices are down 12% from a year ago, the average 416 condo apartment sale price is up 15%. Still, due to the low inventory of homes on the market, many freehold properties are selling over asking. Let’s also keep in mind we started 2018 under freezing cold weather conditions, whereas 2017 began quite warm. With new borrowing rules and rising interest rates, (and the weather warming up), the time to list is NOW, while some buyers still have pre-approvals at lower rates under the old rules. Don’t wait for Spring. Read the full Toronto Real Estate Board Report here and for advice and personal real estate guidance, contact Andrea Stark, Sales Representative, Johnston & Daniel Division of Royal LePage RE Svcs., Ltd., Brokerage 416-489-2121
December 7th, 2012- According to the stats out this week, home sales in Toronto are down 16% from last year but sale prices are moderately up 1.6%. The main reasons for the softer market seem to the stricter mortgage lending rules on top of the insane double Toronto Land Transfer Tax. Read full details of TREB’s Market Watch Report. Make your voice heard against the painful tax which penalizes buyers by visiting: Let’s Get This Right, Toronto!
September 11,2012-The average sale price is up- almost 6.5% from this time last year. Prices of single detached homes in Toronto have increased another 15%! The number of sales, however, in the Toronto core are down almost 12.5% from August 2011, mainly due to high pricetags combined with new borrowing rules by lenders, plus the double whammy of the Toronto Land Transfer Tax. The MLS Home Price Index shows that condominium prices have shown a modest increase of 2.3% in the last year. Read the full details in TREB’s August 2012 Market Watch Report, which was just released.
August 3, 2012- TREB’s Market Watch Report, released today, shows that the average price of homes sold in Toronto has increased 4% from July 2011 to July 2012. In the 416 area, detached homes are up in price 8%, but condos prices are down 1%. (Good time to sell your house and buy that condo.) Also, there is better inventory, (16% more homes on the market than last July), however I think that is in large part due to overpriced listings which just sit. Read the full Toronto Real Estate Board Report here.
We know our City is not really an island unto itself, of course, and international negatives may affect us eventually. But, as it stands, Toronto is the place the world wants to buy into. Read the full Toronto Real Estate Board Market Watch Report and count yourself lucky if you own property in our great city!