Monthly Archives: January 2017

Month: January 2017 Foreign buyers account for only 5 per cent of Toronto home sales in 2016

  Don’t blame overseas investors for the prices of housing in the Toronto area, says the Toronto Real Estate Board (TREB). The board has announced the result of a new research indicating fewer than 5 per cent of the sales of the 113,133 residential real estate transactions in the Toronto region in 2016 involved foreign buyers. More than half of those foreign buyers were buying homes for themselves or to accomodate their family members, according to a November, 2016 Ipsos survey of TREB agents, who acted as agents on behalf of those buyers. About 25 per cent of the sales of the homes

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Month: January 2017 Toronto condo buyers face the market squeeze

  One of the interesting surprises of the resale marketplace in 2016 in the Greater Toronto Area was the strength of the condo market. The lack of listings in the single-family home category persuaded many potential purchasers to take another look at high-rise living. The trend appears to be continuing in 2017. In 2016, sales of condo units in the GTA increased by 20.3 per cent compared to the condo sales in  2015, according to Toronto Real Estate Board. That compares with a 10.5 per-cent increase for detached houses in 2016 in comparison with 2015. The average selling price of

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Month: January 2017 Greater Toronto Area continues to boom with $ 1-million-plus home sales

  The $1-million price range isn’t so exclusive any longer, as a record number of homes sold for at least that much and a lot more  in the Greater Toronto Area last year.   In the GTA, 19,692 properties sold last year for $1-million or higher, a 77 -per-cent surge compared against 2015, according to the Sotheby’s analysis. “The GTA’s market strength was driven by several factors – insatiable consumer demand, tolerating confidence in real estate as a secure and realizing asset, low interest rates and a low Canadian dollar,” told Sotheby’s, which targets high-end sales. “A chronic shortfall of

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Month: January 2017 What you can be expecting to buy or sell a home in 2017

  Interest Rates The inching up of interest rates and most stringent mortgage rules are among the factors that could play a role in tempering sales in the red-hot Toronto region market, mentions Jason Mercer, Manager of Market Analysis for Toronto Real Estate Board (TREB). Those results could be enough for some households to put a home buy on hold. But Mercer mentions that most consumers will look for other selections in order to pursue their home ownership dreams. “If you were thinking of to purchase a single detached home in Toronto, may be now you are looking at buying

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Month: January 2017 More Torontonians want hard-to-find detached homes, survey finds

  More Torontonians are eyeing detached homes, even though those properties are the most difficult to buy. A brand-new investigate by the Ontario Real Estate Association surveyed 1,003 Ontarians looking to purchase a dwelling. Fifty per cent of them said they plan to buy a detached home in the next two years. In Toronto, that’s up 21 percentage points from a year ago. Across Ontario, it’s up 13 percentage points. But the supply of detached dwellings in Toronto is at an all-time low. “The real Canadian dream is to have sole home ownership with land so you can grow their

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