Masoud Behbahani
Sales Representative

Kingsway Real Estate
Brokerage

151 City Centre Dr. #300, Mississauga, ON L5B 1M7

Phone: 905-268-1000  Mobile: 416-579-1860  Fax: 905-277-0020

Strong Start to 2017

March 21, 2017

Strong Start to 2017

TORONTO, ONTARIO, February 3, 2017 - Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 5,188 residential transactions through TREB's MLS® System in January 2017. This result was up by 11.8 per cent compared to 4,640 sales reported in January 2016. Annual rates of sales growth were higher for condominium apartments than for low-rise home types.

January 2017 picked up where 2016 left off: sales were up on a year-over-year basis while the number of new listings was down by double-digit annual rates for most major home types.

"Home ownership continues to be a great investment and remains very important to the majority of GTA households. As we move through 2017, we expect the demand for ownership housing to remain strong, including demand from first-time buyers who, according to a recent Ipsos survey, could account for more than half of transactions this year. However, many of these would-be buyers will have problems finding a home that meets their needs in a market with very little inventory," said Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark price was up by 21.8 per cent on a year-over-year basis in January. Similarly, over the same period, the average selling price was up by 22.3 per cent to $770,745, with double-digit gains in the average prices for all major home types.

“The number of active listings on TREB’s MLS® System at the end of January was essentially half of what was reported as available at the same time last year. That statistic, on its own, tells us that there is a serious supply problem in the GTA – a problem that will continue to play itself out in 2017. The result will be very strong price growth for all home types again this year,” said Jason Mercer, TREB’s Director of Market Analysis.

Click here to see Full Report [pdf]

 

Sell Your Home For Just $999* Listing Commission*

Please do not hesitate to contact me at any time  for mor detail if you have any question and Leave a comment and share your opinion below

Masoud Behbahani

416-579-1860

*2.5% Commission is paid to the co-operating broker
*Not intended to solicit properties already under contract

 


Tagged with: home sales behbahan first time homebuyer iranian real estate agent latest real estate news lowest real estate commission marketwatch mississauga condo mississauga condos mississauga condos for sale mississauga homes north york condo north york condos for sale mls north york homes north york homes for sale north york real estate renovation richmond hill condos richmond hill condos for sale richmond hill homes richmond hill homes for sale toronto condo toronto condos toronto condos for sale toronto homes ultima ultima condos yonge and finch condos yonge and sheppard
| | Share

Powered by Lone Wolf Real Estate Technologies (CMS6)