Catherine To

Broker

President's Award 2016, 2017 2018, 2019

C: 647-700-0043

E: catherineto@live.com

 

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Market Watch Reports

TORONTO, January 7, 2020 - Toronto Real Estate Board President Michael Collins reported that December 2019 residential sales reported through TREB’s MLS® System by Greater Toronto Area REALTORS® were up by +17.4% year-over-year to 4,399. Total sales for calendar year 2019 amounted to 87,825 – up by +12.6% compared to the decade low 78,015 sales reported in 2018.

On an annual basis, 2019 sales were in line with the median annual sales result for the past decade. “We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year. As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year,” said Mr. Collins. 

While sales were up in 2019, the number of new listings entered into TREB’s MLS® System was down by -2.4% year-over-year. For the past decade, annual new listings have been largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home prices over the same period. “Over the last ten years, TREB has been drawing attention to the housing supply issue in the GTA.

Increasingly, policy makers, research groups of varying scope and other interested  parties have acknowledged that the lack of a diverse supply of ownership and rental housing continues to hamper housing affordability in the GTA. Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front,” said Jason Mercer, TREB’s Chief Market Analyst. 

The MLS® Home Price Index Composite Benchmark was up by +7.3% on a year-over-year basis in December 2019. From June 2019 onward, the annual growth rate in the MLS® HPI Composite Benchmark accelerated. The average selling price in December 2019 was $837,788 – up almost +12% year-over-year. For calendar year 2019, the average selling price was $819,319 – up by four per cent compared to $787,856 in 2018.

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

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.