February 19, 2016 – Greater Toronto Area REALTORS® reported 3,500 sales through TREB’s MLS® System during the first 14 days of February 2016. This result represented a 13.5 per cent increase compared to 3,083 sales reported during the same time frame in 2015. For the TREB market area as a whole, annual rates of sales growth were strongest for condominium apartments, followed by semidetached and detached houses. Market conditions appeared to have tightened compared to last year, with annual growth in sales well outstripping annual growth in new listings entered into TREB’s MLS® System. The average selling price for the first two weeks of February 2016 was $677,380, which represented a year-over-year increase of 12.5 per cent compared to an average price of $601,943 reported for the same time period in 2015. Annual rates of average price growth were quite uniform when broken down by home type, with similar rates of growth for condominium apartments and detached and semi-detached houses. The strongest annual rate of price growth was for semi-detached houses in the City of Toronto. On top of this, in the ‘416’ area code, the average price of condominium apartments was up by more than 16 per cent year-over-year. For the full report, download attached document
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Province Announces Funding to Help Homeowners Improve Home Energy Efficiency February 5, 2016 -- The Government of Ontario announced the creation of a new program to help Ontarians improve the energy efficiency of their homes. The province is investing $100 million from the Ontario Green Investment Fund to provide rebates for homeowners who conduct an energy audit on their property and then complete retrofits recommended by the auditor. The program will help about 37,000 homeowners conduct audits to identify energy-saving opportunities and then complete retrofits, such as replacing furnaces and water heaters and upgrading insulation. Full program details, including program start date, eligible project details and amounts, will be available in the coming months. To read more about the Government of Ontario's new program to help Ontarians improve the energy efficiency of their homes, click here GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES TORONTO, Feb. 3, 2016 – Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB’s MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015. “It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment,” said McLean. The MLS® Home Price Index Composite Benchmark Price for January 2015 was up by 11.2 per cent on a year-over-year basis. The average selling price over the same period was up by 14.1 per cent. The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the City of Toronto this year compared to last. The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next. “Market conditions in January were tighter compared to a year earlier, with an annual increase in sales up against a decline in listings. This is why growth in the MLS® HPI benchmarks continued to be strong, especially for singles, semis and townhouses, where there has been a persistent lack of inventory,” said Jason Mercer, TREB’s Director of Market Analysis. TREB News Release File Attached for further information
Little Things Make A Big Difference There’s no doubt about it. A completely renovated room – especially a kitchen or bathroom – will really impress home buyers. That room will probably look brand new and very stylish. But you don’t have to do a full “tear-down-the-walls” type of renovation to upgrade the look of a room. In fact, just a few minor improvements can make a big difference. For example, upgrading wall plates is an easy and inexpensive way to add a lot more style and personality to a room. In the kitchen, installing new hardware on existing cabinets can have a dramatic impact. So, look around your house to determine where small improvements could make a big difference. Buying or Selling a home soon? Knowing the value of your home BEFORE you commit all your hard earned money along with time and energy... Just Makes Sense! Get your Free Comparable Market Analysis. Contact: Irene at Irene@SoldByIrene.ca, 416 523 3425 or complete the form on the right side of your screen.
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AuthorIrene Owchar is a Mississauga Realtor: "I grew up in Missy, lovin' raising my kids and working in this beautiful City." CONTENT RICH NEWSLETTERS WITH CURRENT MARKET TRENDSSign up here: Irene@SoldByIrene.ca or call/text 416 523 3425
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