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.
As the temperatures continue to drop, we'll all be spending more time indoors. There are countless ways to make your home feel cozier for the winter if you have extra money to spend, but if you're being mindful of your finances after the holidays, here are some ideas to help you do it without spending. Bring Out the Blankets As the temperatures drop, it’s time to bring out all of those extra throw blankets and quilts you have lying around in storage. Drape blankets over your couches, chairs, beds, and ottomans; fill a blanket ladder and display it in the corner of a room; or fold extra blankets and place them in the corner. Sticking to warm textures such as wool where possible will help to make the space feel cozy. Light Candles Lighting some candles around your home is one of the easiest ways to make your space feel cozy, and who doesn’t have a stash of candles sitting around somewhere in their home? Not only will the flickering light add a sense of warmth and charm, but your ...
Comments