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.
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 ...
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