The Toronto Real Estate Board announced that there were 9,813 home sales in the month of August 2016. While this sales result was 23.5 per cent above the number of transactions reported for August 2015, it is important to note that the majority of sales are reported on working days and there were two additional working days in August 2016 compared to 2015. When the year-over-year discrepancy in working days is accounted for, the annual percentage change in sales is closer to 13 per cent.
The conditions underlying strong demand for ownership housing remained in place, including a relatively strong regional economy, growth in average earnings and low borrowing costs. Unfortunately, we did not see any relief on the listings front, with the number of new listings down compared to last year. This situation continued to underpin very strong home price growth, irrespective of home type or area.
The MLS Home Price Index Composite Benchmark was up by 17.2 per cent in August 2016 compared to the same month in 2015. Similarly, the average selling price for all home types combined was up by 17.7 per cent year-over-year to an average of approximately $710,410.
Population in the Greater Toronto Area continues to grow. The resulting growth in households coupled with favourable economic conditions and low borrowing costs means that we remain on track for another record year for home sales. Against this backdrop, TREB will also be releasing new third-party research, and consumer and REALTOR® survey results throughout the fall and winter, with discussions focusing on foreign buying activity and issues affecting the supply of ownership housing.
Customer Satisfaction Response: "We met Elvis roughly 6 years ago when we purchased our first home in Alliston. We immediately loved his charisma, knowledge and experience that he had in the real estate market. He was so approachable that after 6 years, and 5 homes later, we now consider him family.
Although he is from the Mississauga area, we used him for our most recent sale of our home in Bolton which got us over asking price within 48 hours! Thank you for helping us find our final dream home and we look forward to always hearing from you!" - V. Calamia
One thing is for sure; we all know that we need a roof over our head.In most peoples case they end up having to pay either Rent for this roof or a Mortgage payment, unless of course you have a rich family that can offer you FREE or Reduced Rent. The point is, we ALL have to pay for a roof over our heads. Real Estate has always been considered a Long-Term Investment. The real question you need to ask yourself; do I really want to pay RENT for the rest of my life?
This Grant offers financial assistance to low-income households who own and occupy substandard housing to enable them to repair their dwellings to a minimum level of health and safety. It is called the Residential Rehabilitation Assistance Program (RRAP). Who is eligible?
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.
There are many television shows today that focus on home staging. If you have not watched any, do yourself a favor and tune in. They all say the same thing: do not even consider putting your house on the market until you have taken a close look at its condition.