Outstanding Achievement 2018,
President's Award 2016-2017
TORONTO, August 6, 2019 – Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. Sales was up by +24.3% compared to July 2018. On a month-over-month basis, sales were up by +5.1%, after preliminary seasonal adjustment. New listings entered into TREB’s MLS® System in July 2019 were up compared to July 2018, but by a much lesser annual rate than sales, at 3.7%.
With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to last year. Active listings at the end of July were down by -9.1% year-over-year, further reflecting tightening market conditions. As market conditions continued to tighten in July, the average selling price increased by +3.2% on a year-over-year basis to $806,755. The MLS® Home Price Index Composite benchmark was up by +4.4%. Higher density home types continued to drive price growth, whereas detached home prices remained down in many communities throughout the GTA.
Broadly speaking, increased competition between buyers for available properties has resulted in relatively strong price growth above the rate of inflation for semi-detached houses, townhouses and condominium apartments. However, the single-detached market segment, which has arguably been impacted most by the OSFI stress test, has experienced a slower pace of price growth, with average detached prices remaining lower than last year’s levels in some parts of the GTA.
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.
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.