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Greetings!
We hope everyone is enjoying the beautiful weather we are having recently (Looks like we’ve gone from winter to summer weather in a very short period of time!).
The spring real estate market is now in full force and we are finally seeing new active listings increase in May over April numbers. The downtown condo re-sale market continues to be very active, while the suburban properties are taking longer to sell than historical averages.
Major financial institutions are aggressively pushing variable rate mortgage specials as low as Prime minus 1%. These special interest rate offers are providing a big incentive for would-be buyers to purchase and enter the marketplace. Expect these mortgage specials to be offered until the end of June.
Don’t forget to vote in the upcoming provincial elections this month! Real estate is a hot topic of discussion amongst the political parties, with each of the party leaders having different views on housing polices moving forward.
This month be sure to enter to win for a Home Depot Gift Card, review the monthly market statistics, and much more!
Alex, Elaine, and Otto
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| "Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB's MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent.
The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased. This is especially clear at the higher end of the market. Detached home sales for $2 million or more accounted for 5.5 per cent of total detached sales in April 2018, versus 10 per cent in April 2017. The MLS® Home Price Index strips out the impact of changes in the mix of home sales from one year to the next. This is why the MLS® HPI Composite Benchmark was down by only 5.2 per cent year-over-year versus 12.4 per cent for the average price." |
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| | | | City Plan Puts Focus On Two- and Three-bedroom Residential Units
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| | "Making sure that we build a livable downtown means ensuring that we have access to affordable housing, but also means that we have access to family housing, and that means family-sized units,” said Councillor Joe Cressy" |
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How To Create The Backyard Oasis Of Your Dreams
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| "Six ways to build a stylish outdoor space that the whole family – from tots to adults – will use with glee." |
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Bright And Airy Loft Style 1 Bedroom + Den In Sought After Boutique Building!
Property Type: Condo Apartment Size: 600-699 Sq Ft # of Bedrooms: 1+1 # of Bathrooms: 1
Neighborhood: E02 - The Beaches SOLD!
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| Beautifully Renovated 2BR+Den in The Heart of North York!
Property Type: Condo Apartment Size: 1000-1199 Sq Ft # of Bedrooms: 2+1 # of Bathrooms: 2
Neighborhood: C14 - Newtonbrook East FOR SALE!
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| | NEWSLETTER SIGNUP
Click here to continue receiving Toronto real estate market updates, homeowner tips, client discounts at participating home services partners, chances to win prizes, access to exclusive listings, investment opportunities, free seminar invitations and more! |
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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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