The Toronto Real Estate Board announced that 2016 was a second consecutive record year for home sales. The GTA Realtors reported that there were 113,133 home sales in 2016 - up by 11.8 per cent compared to 2015. The calendar year 2016 result included 5,338 sales in the month of December- an annual increase of 8.6 per cent. The strongest annual rate of sales growth in 2016 was experienced for condominium apartments followed by detached homes.
As the region's population continued to grow in 2016, a relatively strong regional economy, low unemployment and very low borrowing costs kept the demand for ownership housing strong in the Greater Toronto Area.
The MLS Home Price Index Composite Benchmark accelerated throughout 2016 - from 10.7 per cent in January 2016 to 21 per cent in December 2016. The average selling price for calendar year 2016 was $729,922 - up 17.3 per cent compared to 2015.
Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half. Total new listings for 2016 were down by almost four per cent. In 2016, we saw policy changes and policy debates pointed at the demand side of the market. If we want to see a sustained moderation in the pace of price growth, what we really need is more policy focus on issues impacting the lack of homes available for sale.
DETACHED AT ALLEN ROAD/LAWRENCE IN TORONTO. SOLD 142% OF ASKING! Experience The Difference....Call Me....LET'S TALK.
LUXURY DETACHED IN PORT CREDIT IN MISSISSAUGA. SOLD 115% OF ASKING! Experience The Difference....Call Me....LET'S TALK.
DETACHED IN MEADOWVALE, MISSISSAUGA. SOLD OVER ASKING! Experience The Difference....Call Me....LET'S TALK.
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.