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Showing posts from December, 2020

Royal LePage sees Canadian home prices rising 5.5% in 2021

Canadian real estate brokerage Royal LePage expects home prices to rise 5.5 per cent in 2021, building on unexpectedly strong growth this year, driven by a shortage of properties for sale and record low interest rates. Royal LePage said the aggregate price of a home in Canada is set to rise year-over-year to $746,100 in 2021. The median price of a two-storey detached house and condominium are projected to increase six per cent and 2.25 per cent to $890,100 and $522,700, respectively. The aggregate home price is based on a weighted model that uses median prices and includes all housing types. The forecast is at odds with others, including government-backed mortgage insurer Canadian Mortgage and Housing Corporation, which predicts price decline in 2021, and some of the country's biggest banks, which foresee more muted growth. "The upward pressure on home prices will continue," supported by lack of supply to meet surging demand and policy makers promise to keep interest rate

GTA REALTORS® Release November 2020 Stats

The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS® through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. This result was up by 24.3 per cent compared to November of last year. Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the ‘416’ area code as well. “Home buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit annual rates of price growth,” said Lisa Patel, TRREB President. The MLS® HPI Composite Benchmark was up by 10.6 per cent in November 2020 compared to November 2019. The average selling price for

TRREB MLS Average Resale Home Price November 2020


TRREB MLS Sales-to-New Listings Ratio November 2020


TRREB MLS New Listings November 2020


TRREB MLS Sales November 2020


The Five Holiday Hazards to Watch Out For

  CHRISTMAS TREES Whether you've got an artificial or real tree, they can quickly become a fire hazard. If you're opting for a real tree, choose one that does not have brown needles, which indicate dryness and are more prone to catch fire. Make sure your holiday lights don't have any frayed wires. Keep your tree at least three feet away from heat sources like a fireplace, radiator or candles. And make sure your tree is stable with a sturdy stand.  OVERUSED POWER SOCKETS From outdoor lights to radiators to tree lights, a lot of electricity gets used during the holidays. Make sure to spread out your electrical use evenly across all the power sockets by using extension leads.  DECORATIONS Some decorations require you to use ladders in awkward places, which can put you at risk. Make sure you're using your ladder in optimal weather conditions where there's no ice and wind. And make sure you've got the right ladder size for the job.  CANDLES Nothing exudes winter warm