Monday 28 April 2014
Wednesday 23 April 2014
April 17, 2014
TORONTO, April 17, 2014 -- Toronto Real Estate Board President Dianne Usher announced that the spring market started off on a powerful note in the Greater Toronto Area, with a 10.8 percent year-over-year sales increase reported by Greater Toronto REALTORS during the first fourteen days of April. Sales through the TorontoMLS system over this period amounted to 4,541 units.
"The strong rise in sales talks to the indisputable fact that home possession remains affordable in the GTA. The bulk of house purchasers get a home using a home loan. Usher.
"While the insistent lists shortage in the GTA, coupled with strong demand, has led on to a brisk pace of price expansion, really low advertised mortgage rates have gone a long way to lessening the effect of upward trending home prices," continued Ms. Usher. This increase was due to both tight market conditions and a change in the mix of houses sold.
The average selling price for April mid-month sales was $583,697, representing a yearly increase of 11 %. At month-end, the MLS HPI baseline price will supply more insight into price growth attributable only to the change in market conditions.
"The overall average pricetag increase was driven by single-detached, semi-detached and townhouse sales in the City of Toronto. There was an important increase in higher-end home sales this year compared to last," related Jason Mercer, TREB's Senior Chief of Market Analysis.
"This time last year, many would-be house buyers and sellers were still on the sidelines thanks to changes in Fed mortgage lending guidelines, including those suggestion changes that removed the executive guarantee on mortgage insurance on home sales over one million dollars. Nonetheless many of these homes have afterwards changed to the lending guideline changes and have recently purchased a home," continued Mercer.
"The strong rise in sales talks to the indisputable fact that home possession remains affordable in the GTA. The bulk of house purchasers get a home using a home loan. Usher.
"While the insistent lists shortage in the GTA, coupled with strong demand, has led on to a brisk pace of price expansion, really low advertised mortgage rates have gone a long way to lessening the effect of upward trending home prices," continued Ms. Usher. This increase was due to both tight market conditions and a change in the mix of houses sold.
The average selling price for April mid-month sales was $583,697, representing a yearly increase of 11 %. At month-end, the MLS HPI baseline price will supply more insight into price growth attributable only to the change in market conditions.
"The overall average pricetag increase was driven by single-detached, semi-detached and townhouse sales in the City of Toronto. There was an important increase in higher-end home sales this year compared to last," related Jason Mercer, TREB's Senior Chief of Market Analysis.
"This time last year, many would-be house buyers and sellers were still on the sidelines thanks to changes in Fed mortgage lending guidelines, including those suggestion changes that removed the executive guarantee on mortgage insurance on home sales over one million dollars. Nonetheless many of these homes have afterwards changed to the lending guideline changes and have recently purchased a home," continued Mercer.
Wednesday 2 April 2014
Toronto Real-estate Board March 19, 2014
TORONTO, March 19, 2014 -- Toronto Real-estate Board President Dianne Usher announced that Greater Toronto Area REALTORS reported 3,459 transactions through the TorontoMLS system during the first fourteen days of March 2014. This result for the TREB market area in total was nearly unvaried compared to 3,464 transactions finished in the same period in 2013.
"Despite the poor weather conditions experienced in the first half of March, a surplus of willing consumers were actively searching for a home to buy. Nonetheless many of these people continued to be influenced by the long-lasting lack of single-detached, semi-detached and townhouse lists, which implies that in a number of cases they couldn't find a home on which to make an offer, or they were facing stiff competition from other buyers," expounded Ms.
For all home types combined in the GTA, the average selling price was $560,948 - up by just about six percent in contrast to the median price for a similar time-frame in 2013. Usher. The semi-detached market segment in the Town of Toronto led the way in terms of price expansion during the first Fourteen days of March, with a year-over-year increase of more than 10 per cent. Because of this, some semi-detached listings have attracted many interested customers.
"Semi-detached houses represent a rather more cost-effective possession option for some households. This competition has served to apply strong upward pressure on average selling price," announced Jason Mercer, TREB's Senior Manager of Market Analysis.
"The average single-detached price was down a touch in the Town of Toronto year over year due to a smaller share of luxury deals this year compared with last. Tight market conditions may continue to drive strong detached price growth in 2014," added Mercer.
"Despite the poor weather conditions experienced in the first half of March, a surplus of willing consumers were actively searching for a home to buy. Nonetheless many of these people continued to be influenced by the long-lasting lack of single-detached, semi-detached and townhouse lists, which implies that in a number of cases they couldn't find a home on which to make an offer, or they were facing stiff competition from other buyers," expounded Ms.
For all home types combined in the GTA, the average selling price was $560,948 - up by just about six percent in contrast to the median price for a similar time-frame in 2013. Usher. The semi-detached market segment in the Town of Toronto led the way in terms of price expansion during the first Fourteen days of March, with a year-over-year increase of more than 10 per cent. Because of this, some semi-detached listings have attracted many interested customers.
"Semi-detached houses represent a rather more cost-effective possession option for some households. This competition has served to apply strong upward pressure on average selling price," announced Jason Mercer, TREB's Senior Manager of Market Analysis.
"The average single-detached price was down a touch in the Town of Toronto year over year due to a smaller share of luxury deals this year compared with last. Tight market conditions may continue to drive strong detached price growth in 2014," added Mercer.
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