TORONTO, June 3, 2016 – Toronto Real Estate Board President Mark
McLean announced that there were 12,870 home sales reported through
TREB’s MLS® System in May 2016. This result represented a new record
for the month of May and a 10.6 per cent increase over the same period last
year. In contrast, the number of new listings was down over the same time
frame by 6.4 per cent. The decline in listings was experienced in both the
low-rise and condominium apartment market segments.
“Whether we’re talking about existing homeowners or people looking to
purchase for the first time, there is no shortage of buyers in the marketplace
today. So, while the record number of home sales through the first five
months of 2016 is not necessarily surprising, it does sometimes mask the
larger story in the GTA: the shortage of listings, which has resulted in strong
upward pressure on home prices,” said Mr. McLean.
The MLS® Home Price Index Composite Benchmark was up by 15 per cent
year-over-year in May 2016. Similarly, the average selling price for all home
types combined was up by 15.7 per cent over the same period. Low-rise
home types, which remained in short supply in many GTA neighbourhoods,
experienced the strongest price growth.
“Widespread competition between buyers of singles, semis and townhouses
across the GTA has underpinned the robust annual rates of price growth
experienced so far this year. With this said, however, it is also important to
understand that tighter market conditions for condominium apartments have
resulted in price growth well above the rate of inflation in this market segment
as well,” 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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