Catherine To

Broker, President's Award 2016-2017

 

C: 647-700-0043

E: catherineto@live.com

 

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Market Watch Reports

    

TORONTO, ONTARIO, January 4, 2018 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS® System in 2017. This total was -18.3% compared to the record set in 2016. Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced.

The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward their home purchase in response to the new OSFI stress test guidelines effective January 1, 2018.Much of the sales volatility in 2017 was brought about by government policy decisions. Research from TREB, the provincial government and Statistics Canada showed that foreign home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing Plan, which included a foreign buyer tax, had a marked psychological impact on the marketplace.

Looking forward, government policy could continue to influence consumer behavior in 2018, as changes to federal mortgage lending guidelines come into effect,” said Mr. Syrianos. The average selling price for 2017 as a whole was $822,681 was +12.7% compared to 2016. This annual growth was driven more so by extremely tight market conditions during the first four months of the year.

In the latter two-thirds of 2017, fewer sales combined with increased listings resulted in slower price growth. In December, the MLS® Home Price Index (HPI) Composite Benchmark was up by 7.2 per cent year over year, and the overall average selling price was +0.7% year over year. “It is interesting to note that home price growth in the second half of 2017 differed substantially depending on market segment.

The detached market segment – the most expensive on average – experienced the slowest pace of growth as many buyers looked to less expensive options. Conversely, the condominium apartment segment experienced double-digit growth, as condos accounted for a growing share of transactions,” said Jason Mercer, TREB’s Director of Market Analysis.

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