In the freehold market the number of new listings and sales both showed continued declines after seeing numbers rise through the first two weeks of October. Listings were down 7% over the previous week to 166 from 180 but are down a significant 30% since the mid-month high of 237. Sales declined 30% over the previous week from 136 to 93 and the percentage of homes that sold above their advertised price was 46%, down 12% from the previous week........
Read moreMARKET UPDATE FOR THE WEEK ENDING OCTOBER 27TH, 2017
The Toronto Real Estate Board released the market stats for October and its good news once again! We saw a dramatic increase in sales (7,118) between September and October of almost 12 per cent pointing to stronger fall market conditions. The average selling price for the GTA for October was $780,000 up by 2.3 per cent compared ......
Read moreMARKET UPDATE FOR THE WEEK ENDING OCTOBER 20TH, 2017
Do you have at least 20 per-cent home equity and need a new mortgage? Are your housing costs more than a third of your gross income? If you answered yes and yes, then you should mark January 1, 2018 on our calendar. That's when our banking regulator's new mortgage stress test officially kicks in. And if you meet the criteria above, you may not qualify for as big a mortgage next year as you do today. Will this create a little mini boom? Two consecutive months of rising sales in August and September confirm that buyers are surfacing again and Sellers in the Toronto area seem more confident with more listings coming to market. Agents are predicting a small flurry of buying.....
Read moreMARKET UPDATE FOR THE WEEK ENDING SEPTEMBER 3OTH, 2017
Happy Thanksgiving!!
Call us unimaginative, but along with being thankful for family, good health and warm fall weather, this year we are going to be thankful for being Realtors®. Again. Sure, it has been and up and down and up kind of year and no we have not moved out of the near bottom ranking of jobs people like to hate, but nobody gets to explore and enjoy the city like we do. As the city learns to live a high-rise lifestyle we Realtors can enjoy some of the city’s most stunning views in the morning and wander....
Read moreMARKET UPDATE FOR THE WEEK ENDING SEPTEMBER 22ND, 2017
This past week we in the industry seem to be of two minds. It seems all the Realtors are holding the same half full glass of water and we are debating the age old question of is the glass half full or is it really half empty. Some Realtors are trying to hold offer dates and others are trying to list where they think a property’s market value lies. Some are still thinking about the market softening after the April ‘peak’ and others are looking for a new peak this Fall. After watching the steady increase in freehold properties being sold above their listed price this last week we are definitely leaning towards the half glass full philosophy. One thing everyone does seem to agree on....
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