TORONTO, May 4, 2016 – Toronto Real Estate Board President
Mark McLean announced that there were 12,085 sales reported through TREB’s MLS®
System in April 2016. This result, which represented a record for the month of April,
was up by 7.4 per cent in comparison to April 2015. For the TREB market area as
a whole, annual sales growth was experienced for all major home types except
semi-detached houses. In the City of Toronto, sales were down for detached and
semi-detached houses as well as townhouses on a year-over-year basis. This dip
in sales in the ‘416’ area code was due to a lack of low-rise listings. Many
wouldbe buyers were not able to find a home that met their needs. “Demand
remained strong for all types of ownership housing. This suggests that
Canadians continue to see the value in investing in homeownership, and on May
17, I encourage all homeowners to celebrate with us on National Real Estate
Day,” said Mr. McLean. “While April’s sales result represented a new record for
sales, that number could have been even higher if we had benefitted from more
supply. In the City of Toronto in particular, some households have chosen not
to list their home for sale because of the second substantial Land Transfer Tax
and associated administration fee. The lack of available inventory, coupled
with record sales, continued to translate into robust annual rates of price
growth,” continued Mr. McLean. Home selling prices continued to trend upward in
April. The MLS® Home Price Index Composite Benchmark was up by 12.6 per cent
year-over-year. The average selling price was up by 16.2 per cent. The higher
growth rate reported for the average home price, as compared to the MLS® HPI,
points to a greater share of high-end home sales this year compared to last.
“As we move into the busiest time of the year, in terms of sales volume, strong
competition between buyers will continue to push home prices higher. A greater
supply of listings would certainly be welcome, but we would need to see a number
of consecutive months in which listings growth outpaced sales growth before
market conditions become more balanced,” said Jason Mercer, TREB’s Director of
Market Analysis.
The festive holidays are approaching, and calendars are already filling up. Whether you’re staying with family around the country or taking an extended leave to escape the winter, you may be planning to leave your home vacant for more than a day or two. To ward against coming home to the wrong kind of holiday surprise, here’s what to do before you depart. Cheap Wi-Fi cameras Security equipment might sound high-tech and expensive, but securing your home against potential intrusion doesn’t cost much. For around $30, you should be able to outfit your home with WIFI cameras which are home assistant compatible. Shut the main water off Remember to shut off the main water supply if you plan to be away from your home for more than a day. In the event of a plumbing failure, your home could fall prey to serious water damage. Install smart water sensors in your basement Installing a smart water sensor in your basement can easily save a lot of money and worry. Some models will alert you to leaks a...
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