MARKETWATCH REPORT
The Toronto Real Estate Board announced that The Greater Toronto Area REALTORS® reported 6,455 sales through TREB's MLS® System in September 2018 - up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® Home Price Index (HPI) Composite Benchmark price was up by two per cent year-over-year. New listings entere into TREB's MLS® System in September 2018 amounted to 15,920 - down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs.
It is healthy to see sales and prices in many areas across the Greater Toronto Area up a bit, compared to last year's lows. A the same, however, it is important to remember that TREB's market area is made up of over 500 communities. Market conditions have obviously unfolded differently across these communities. This is why it's important to work with a REALTOR who is familiar with local market conditions in your areas of interest.
While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment. As the GTA population continues to grow, the real challenge in the housing market will be supply rather than demand. The Toronto Real Estate Board is especially concerned with issues affecting housing supply as we move towards municipal elections across the region.
On a monthly basis, after preliminary seasonal adjustment, sales edged up by 0.2 per cent in September 2018 compared to August 2018. The average selling price, after preliminary seasonal adjustment, edged lower by 0.5 per cent month-over-month.
Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semi-detached houses. In many neighbourhoods, these home types provide more affordable home ownership options. This is why a policy focus on increasing mid-density housing options throughout the GTA is important.
* * * * BREAKING NEWS * * * *
Toronto House Price Gains Largely Bypass The 905! Read more . . .
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 Customer Satisfaction Response:
"Elvis Vogrin has been an absolute delight to work with. Communication and organization was key with us and Elvis showed no lack of this. His marketing is like nothing we have seen. Everything about our new home purchase to the sale of our current home was nothing but smooth. I would most definitely recommend Elvis Vogrin as a realtor.
We feel his use of a home staging consultant and professional photographer really made a difference in the quickness and price of our sale. He was always available for questions, and made us feel like we were his only client. He is gifted, talented and knows his market extremely well. His professionalism, preparedness, communication skills, marketing plan, and track record speak for themselves!" - R. Meneses
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BUYERS AND SELLERS INFORMATION |  | | |
One thing is for sure; we all know that we need a roof over our head.In most peoples case they end up having to pay either Rent for this roof or a Mortgage payment, unless of course you have a rich family that can offer you FREE or Reduced Rent. The point is, we ALL have to pay for a roof over our heads. Real Estate has always been considered a Long-Term Investment. The real question you need to ask yourself; do I really want to pay RENT for the rest of my life? | This Grant offers financial assistance to low-income households who own and occupy substandard housing to enable them to repair their dwellings to a minimum level of health and safety. It is called the Residential Rehabilitation Assistance Program (RRAP). Who is eligible? | | |
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