Monthly Archives: August 2017

Month: August 2017 How much you need to earn to pay for a home in Toronto

  Looking at the Toronto housing market through an analytical lens of percentages, shifting sales numbers and interest rates may be the go-to method for industry insiders, but for many average customers, there’s really one thing that matters: “What can I buy?” To help answer that question, let’s calculate what level of family income you or your household are going to need to induce in order to purchase a home, based on average prices in 2017 so far. First, we looked at prices for the entire Greater Toronto Area (both the 416 and suburban 905) by property type.   There’s

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Month: August 2017 Toronto home sellers and buyers are watching the waiting game in August, 2017

  The Toronto real estate market is stalled and buyers and sellers are waiting to see what will happen when it comes back in September. “They’re not sure whether the market slowed down for the summer for normal, seasonal marketplace reasons, or whether we’re on a downward slope,” tells Mr. Kholodov, an agent. For now, it seems, many real estate agents and their clients are trying to understand the situation.   Mr. Guatieri, senior economist, Bank of Montreal, expects housing prices, which peaked in April, 2017 in the Greater Toronto Area, will continue to fall in the coming months before

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Month: August 2017 Toronto Detached Home Prices Down $200,000 From June, 2017

  Toronto’s detached home is having another rough month. Numbers from the Toronto Real Estate Board( TREB) has been demonstrated that purchaser indecision and substantial downward pressure to the detached home segment in July, 2017. Generally speaking, detached homes across TREB market area demonstrated lower prices, less sales, and more inventory.   Prices Down Up To $205,000 From June, 2017 Detached home prices remain in positive field, but there are indication of big declines. The benchmark price, the price of a typical detached house, fell to $963,900 across TREB, a 6.16% reduction from the month before. This price is still

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Month: August 2017 Toronto home sales drop, new listings decrease as sellers retreat in July, 2017

  Home prices continued to fall across the Toronto region in July, 2017 as purchasers stay on the sidelines, but the tempo of growth of new listings also continued to slow as more sellers decided to wait for a better time to sell. The Toronto Real Estate Board reported the average sale price of all types of homes sold in the Greater Toronto Area was $746,218 in July, 2017, down 19 per cent from the market’s peak in April, 2017 when house sales averaged $920,791, and down 6 per cent from June’s average selling price of $793,915.   The average

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Month: August 2017 Toronto home prices continue falling for third month in a row in July, 2017

  Toronto Real Estate Board( TREB) reports a third consecutive month-to-month drop in home prices in the Toronto region in July, 2017.   Although the average price for all types of homes was still 5 per cent higher time over time, it was down about 6 per cent from June to $746,216. The number of listings likewise fell 40.4 per cent of the numbers in time over time in July, 2017. The CEO of Toronto real estate board cautioned that the traditionally slower summertime sales aren’t the best sell indicators. “We generally appreciate an uptick in sales following Labour Day,

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