TORONTO, ONTARIO, February 3, 2017 - Toronto Real
Estate Board President Larry Cerqua announced that Greater Toronto Area
REALTORS® reported 5,188 residential transactions through TREB's MLS® System in
January 2017. This result was up by 11.8 per cent compared to 4,640 sales
reported in January 2016. Annual rates of sales growth were higher for
condominium apartments than for low-rise home types. January 2017 picked up
where 2016 left off: sales were up on a year-over-year basis while the number
of new listings was down by double-digit annual rates for most major home
types. "Home ownership continues to be a great investment and remains very
important to the majority of GTA households. As we move through 2017, we expect
the demand for ownership housing to remain strong, including demand from
first-time buyers who, according to a recent Ipsos survey, could account for
more than half of transactions this year. However, many of these would-be
buyers will have problems finding a home that meets their needs in a market
with very little inventory," said Cerqua. The MLS® Home Price Index (HPI)
Composite Benchmark price was up by 21.8 per cent on a year-over-year basis in
January. Similarly, over the same period, the average selling price was up by
22.3 per cent to $770,745, with double-digit gains in the average prices for
all major home types. “The number of active listings on TREB’s MLS® System at
the end of January was essentially half of what was reported as available at
the same time last year. That statistic, on its own, tells us that there is a
serious supply problem in the GTA – a problem that will continue to play itself
out in 2017. The result will be very strong price growth for all home types
again this year,” 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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