Real Estate News

May 2016 Newsletter

May 2016 Newsletter

Here are the latest real estate market updates and some interesting tips and useful information. Feel free to share this with your friends, and please contact me should you require any help with your real estate affairs. […]

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It's the best April in the 100 plus year history of the Board!

It's the best April in the 100 plus year history of the Board!

The Toronto real market continued its torrid pace with the sale of 12,085 homes in April, the best April in the 100 plus year history of the Board, and up 7.4% over April 2015. While the average price in all of the Toronto Real Estate Board marketing areas for all types of residences now stands at $697,679, the price breakdown for local areas is as follows: City of Toronto $718,682 (Detached Homes only in April $1,257,958) York Region $896,476 Durham Region $494,643 Peel Region $582,496 […]

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What Can We Say Other Than The Real Estate Market Is Crazy Hot!

What Can We Say Other Than The Real Estate Market Is Crazy Hot!

There were 7,621 homes sold in February – up 21.1% over February 2015. This brings the total sales for 2016 to 12,278, on the way to another record breaking year for Toronto. The average price jumped to $664,533, brought about by huge demand and a lack of inventory. Sales were up strongly despite the new federal mortgage lending guidelines coming into effect that require at least a 10% down payment on the portion of purchase prices between $500,000 and $1,000,000. The culprits causing this market? More immigration to Toronto from other parts of the world and other provinces, more investment from foreign sources, (Canada is 35% cheaper because of the strength of the US dollar), and a serious shortage of rental properties. All of this creates demand and the resulting increase in prices. None of these factors seem to have any reason to abate in the near future! […]

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Understanding Condominium Maintenance Fees

Understanding Condominium Maintenance Fees

Many condo buyers are worried about how condo fees might affect their investment - and their future. Condo fees are rising steadily - the average rate in the GTA is almost 60 cents per square foot. They can be as high as double the average - twice what they were over a decade ago. What’s contributing to your condo fees - and how much should you really be paying? […]

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Buying Intentions Are Strong Despite Rising Prices of Homes

Buying Intentions Are Strong Despite Rising Prices of Homes

The weather in December and January was not the only thing that was unseasonably warm! The Toronto real estate market continued its hot pace with the sale of 4,672 residential transactions in January, up 8.2 % over January of 2015. The average price in January was $631,092, up 14.1% over January 2015’s average price of $552,925. […]

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