TORONTO, ONTARIO, June 4, 2018 – Greater Toronto Area REALTORS® reported 7,834 sales
through TREB’s MLS® System in May 2018. This sales result was down by -22.2% 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%. 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%.    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.
 
“Home ownership remains a sound long-term investment. Unfortunately, many home buyers
are still finding it difficult to find a home that meets their needs. In a recent Canadian Centre for
Economic Analysis study undertaken for the Toronto Real Estate Board, it was found that many
people are over-housed in Ontario, with over five million extra bedrooms. These people don’t list
their homes for sale, because they feel there are no alternative housing types for them to move
into. Policy makers need to focus more on the ‘missing middle’ – home types that bridge the
gap between detached houses and condominium apartments,” said Mr. Syrianos.The MLS® Home Price Index (HPI) Composite Benchmark was down by -5.4% year-over-year. The average selling price for all home types combined was down by -6.6% to $805,320. On a seasonally adjusted basis, the average selling price was up by +1.1% compared to April 2018.
 
“Market conditions are becoming tighter in the Greater Toronto Area and this will provide support
for home prices as we move through the second half of 2018 and into 2019. There are emerging indicators pointing toward increased competition between buyers, which generally leads to
stronger price growth. In the City of Toronto, for example, average selling prices were at or above average listing prices for all major home types in May,” said Jason Mercer, TREB’s Director of
Market Analysis
 

Catherine To

Broker, President's Award 2016-2017

 

C: 647-700-0043

E: catherineto@live.com

 

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Market Watch Reports

Identify Stigmatized Properties 

As a realtor, we may refuse to answer this question because it is difficult to fulfill the answers for different buyers. But we must be fair, honest and maintain our intergrity if we choose to answer the concern from buyers. Click here to find out how we can help to address your concerns. 

 

 

 

 

 

 

 

 

 

Identify Grow-operation 

As a realtor, it is our fiduciary duty to protect the interests of my clients. One of which that I often do is to find out the possible grow-op history of the house that my clients are interested to purchase. This is by far one of the biggest concerns that most home buyers have. I want to share the below links with you to help you to identify a grow-op and the locations of those published grow-op online. If you like the info., please share with your friends and families.

 

 

1. RCMP Grow-op Tips

2. Scarborought Grow-op

3. 12 Signs That Your Home Was a Grow-op