September 2016 Newsletter

Strong Sales & Price Growth in August


September 7, 2016 --Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported a record 9,813 sales through TREB's MLS® System in August 2016.

While this sales result was 23.5 per cent above the number of transactions reported for August 2015, it is important to note that the majority of sales are reported on working days and there were two additional working days in August 2016 compared to 2015. When the year-over-year discrepancy in working days is accounted for, the annual percentage change in sales is closer to 13 per cent.

Toronto Real Estate Average Market Price August 2016 Toronto Real Estate Market Activity August 2016

"The conditions underlying strong demand for ownership housing remained in place, including a relatively strong regional economy, growth in average earnings and low borrowing costs. Unfortunately, we did not see any relief on the listings front, with the number of new listings down compared to last year. This situation continued to underpin very strong home price growth, irrespective of home type or area," said Mr. Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark for August 2016 was up by 17.2 per cent on a year-over-year basis. Similarly, the average selling price for all home types combined was up by 17.7 per cent on an annual basis to $710,410. Both the MLS® HPI benchmarks and average prices for low-rise home types were up by double digits percentage-wise.

"Population in the GTA continues to grow. The resulting growth in households coupled with favourable economic conditions and low borrowing costs means that we remain on track for another record year for home sales. Against this backdrop, TREB will also be releasing new third-party research, and consumer and REALTOR® survey results throughout the fall and winter, with discussions focusing on foreign buying activity and issues affecting the supply of ownership housing," said Jason Mercer, TREB's Director of Market Analysis.

Retrieved from Toronto Real Estate Board Report

Your Home's Fall Checklist

Your Home's Fall Checklist

Fall is the perfect time to take care of the little things that can make a big difference for you and your home. Most of the tasks listed below are well with-in the average person's ability. But even if you choose to have a professional handle them, it's worth the expense. You'll save money -- and maybe even your life. Here's the checklist at a glance.

Read more »
(Retrieved from Better Homes and Gardens)

10 Things to Do During TIFF 2016

10 Things to Do During TIFF 2016

The Toronto International Film Festival (TIFF) transforms our city into a glamorous, star-studded hotspot for 10 days each fall. Future Oscar winners have their world premieres, the hottest stars walk the red carpet and the average Torontonian can get in on the action. Get your tickets to the movies of your choosing, but also check out these fun (and sometimes free!) ways to celebrate TIFF in Toronto.

Read more »
(Retrieved from toronto.com)