Across the country, Canadian homeowners have been reaping the benefits of increased housing prices. According to the Canadian Real Estate Association (CREA), the average home price in Canada has risen 6.5 per cent to $352,600. Meanwhile, the average home price in Toronto is now $465,369, up 8.9 per cent from September 2010.
Experts believe that Toronto prices will soon top Vancouver’s price growth. Prices in Vancouver have increased 10.6 per cent year-over-year. Toronto, in the mean time, has seen a steady 9 per cent year-over-year pace since April.
With a… Read the rest
October 19, 2011 – 2:29 pm
By Eddie
|
Also posted in Blog, Real Estate News
|
Tagged 6.5 per cent, 8.9 per cent, average home, Canada, Canadian Real Estate Association, CREA, Housing Prices, Market Update, October, October 2011, price, price increase, real estate market, Toronto, Toronto Real Estate
|
Canada continues to defy the less certain economic outlook that European countries and our neighbours to the south continue continue to experience.
Toronto’s real estate market continues to flourish, with a reported 7,542 sales through the TorontoMLS system in August – a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010.
With mortgage rates staying relatively low, first-time homebuyers are capitalizing on the opportunity to get into the market.
Greater Toronto REALTORS reported 10,046 sales in May 2011 – up six per cent compared to May 2010. This result was the second best on record for May under the current Toronto Real Estate Board service area. The number of new listings in May, however, were down 15 per cent compared to last year with 16,076 listings in May 2011 compared to 18,940 listings in May 2010.
Properties listed in May 2011 were on the market for 23 days and sold for an average price of $485,520 – up nine… Read the rest
By Eddie
|
Also posted in Blog, Real Estate News
|
Tagged Bay Street Corridor, Blake-Jones, Bloor West Village, Broadview North, Cabbagetown, Central East York, Church and Wellesley, Corktown, Greater Toronto Area, High Park, Housing Prices, June 2011, Kensington Market, Leaside, Leslieville, Liberty Village, Little Italy, Market Update, Neighbourhood, O'Connor, Old East York, Parkview, Playter Estates, Price Appreciation, Realtors, Riverdale, Roncesvalles, Rosedale, The Beach, The Danforth, The Distillery District, The Financial District, The Pocket, Trinity Bellwoods, Woodbine Corridor
|
In 2007, as a taxation measure granted under the City of Toronto Act, 2006, Toronto City Council approved a new Municipal Land Transfer Tax, which came in to effect in February 1, 2008.
While first-time homebuyers enjoy a rebate on the Municipal tax of up to $3,725 of both new and existing homes, non-first-time homebuyers are subject to charges on a graduated basis depending on the purchase price of the property.
Mayoral-elect Rob Ford has pledged to remove the Toronto Land Transfer Tax which will save homebuyers $4,725 on the… Read the rest
November 2, 2010 – 11:33 am
By Eddie
|
Also posted in Blog, Buyers
|
Tagged Buy, Buyer, City of Toronto, First-time Homebuyer, Housing Prices, Land Transfer Tax, Market, Sell, Toronto
|
