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Greetings!
We hope you are having a good start to the summer!
With the spring market is now behind us, we are keen to read the second quarter statistics when they are released by the Toronto Real Estate Board in early July. The market was off to a delayed start in April due to the weather, but sales accelerated at a healthy pace in both May and June. Our belief is that the overall market statistics will be propped up by a ‘hot’ condo market, while the freehold market is edging towards being more balanced in Toronto.
The banks have been promoting their variable rate mortgage specials (currently as low as Prime minus 1%). These low interest rate offers have helped buyers make the plunge to purchase in today’s market. These mortgage rate specials will only be available for a few more weeks, so if you have an upcoming mortgage renewal, your window to obtain these rates is closing soon.
This month be sure to enter to win for tickets to an upcoming Toronto Blue Jays game, review the monthly market statistics, and much more!
Alex, Elaine, and Otto
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| "Greater Toronto Area REALTORS® reported 7,834 sales through TREB's MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30 per cent. On a month-over-month basis, seasonally adjusted May sales were basically flat compared to April.
Supply of homes available for sale continued to be an issue. New listings were down by 26.2 per cent. The fact that new listings were down by more than sales in comparison to last year means that competition increased between buyers. Recent polling conducted by Ipsos for TREB suggests that listing intentions are down markedly since the fall." |
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Stunning Bright And Spacious 2 Bedroom 2 Washrooms Condo Townhouse in Oakville!
Property Type: Condo Townhouse Size: 900-999 Sq Ft # of Bedrooms: 2 # of Bathrooms: 2
Neighborhood: Oakville Uptown Core FOR SALE!
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| | Brand New 'Sherwood At Huntington' Situated In A Coveted Lawrence Park Enclave!
Property Type: Condo Apartment Size: 2250-2499 Sq Ft # of Bedrooms: 2+1 # of Bathrooms: 3
Neighborhood: C12- Bridle Path FOR LEASE! |
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ThinkTorontoHomes, Royal LePage Terrequity Platinum Realty
293 Eglinton Ave. East, Toronto, Ontario M4P 1L3 Canada www.thinktorontohomes.com | info@thinktorontohomes.com |
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