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Greetings!
Hooray - the warm weather is finally here! We are seeing a delayed start to the spring real estate market given the unusually long winter we have had. Active listings in April were lower than historical norms, but we expect listings to increase this month as the weather improves. The downtown condo re-sale market remains very competitive as the more stringent mortgage qualifying criteria introduced in January has increased the number of buyers at this price point.
We will be closely following the upcoming Provincial Elections in June as Party leaders have opposing views on government’s involvement with policies affecting the real estate market. Fixed rates mortgages increased last week with many of the major financial institutions. Buyers with active pre-approvals are not affected by this rate increase as long as they purchase within the 90 day rate hold period.
This month be sure to enter to win two tickets to a Toronto FC Soccer Game, 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 7,228 residential transactions through TREB's MLS® System in March 2018. This result was down by 39.5 per cent compared to a record 11,954 sales reported in March 2017 and down 17.6 per cent relative to average March sales for the previous 10 years.
The number of new listings entered into TREB's MLS® System totaled 14,866 – a 12.4 per cent decrease compared to March 2017 and a three per cent decrease compared to the average for the previous 10 years." |
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| | | | Short Supply Keeps GTA New-construction Home Prices High in March
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| | "The building industry says the market is out of balance with too much demand for too few new homes."
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Organized From the Start: 8 Smart Systems for Your New House
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| "Establishing order at the outset will help prevent clutter from getting its foot in the door" |
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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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| Beautiful Executive Castle Hill End-Unit Townhome!
Property Type: Townhouse 3-Storey Size: 2500-3500 Sq Ft # of Bedrooms: 3+1 # of Bathrooms: 4
Neighborhood: C02 Casa Loma 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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