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What does an expert has to say about Greater Toronto Area's Real Estate Market?

In this 11 minutes video,Toronto Real Estate Board's Senior Manager, Market Analysis Jason Mercer discusses the current market condition, sales, home prices and influencing factors like Mortgage Interest Rates, Consumer Confidence as well as the Greater Toronto Area's Condo Market, please have a look.

 

Greater Toronto's Real Estate Market Performance as compared to Previous Years

Here are some interesting charts to look at  about the performance of the Housing Market in the Toronto, Mississauga, Brampton and other parts of Greater Toronto Area as compared to last few years. Want to know the trend in sales, prices or number of listings etc.?

Please have a look at these Quick to Glance Charts by Toronto Real Estate Board showing how the Real Estate activity in 2013 compares to 2010, 2011 and 2012 to get a better prospective of the GTA Market.

  

Low inventory and demand for Low Rise Real Estate Push GTA Home Prices up by 7% in October 2013

TORONTO, November 6, 2013 – Greater Toronto Area REALTORS® reported 8,000 home sales through the TorontoMLS system in October 2013 – up from 6,713 transactions reported in October 2012. Over the same period, new listings on the TorontoMLS system were down. 

“The GTA home ownership market has been broadly characterized by a rebound in sales since the summer. Market conditions have been tighter in some market segments more so than others. Ground-oriented homes listed for below one million dollars in some areas of the GTA have been especially popular with Buyers, while listings for these home types have been constrained,” said Toronto Real Estate Board President Dianne Usher. 
 
“The supply of listings for many home types and price points has either been down year-over-year or at least not up by the same annual rate as sales. The additional Land Transfer Tax in the City of Toronto and the removal of the government guarantee on high ratio mortgages for home purchases over one million dollars have arguably led many homeowners not to list,” continued Ms. Usher. 
 
The average Selling price for TorontoMLS sales in October 2013 was $539,058– up by more than seven per cent in comparison to the average price of $502,127 in October 2012. The MLS® Home Price Index (MLS® HPI) Composite Benchmark was up by 4.5 per cent year-over-year. 
 
“Growth in the average selling price and the MLS® HPI Composite Benchmark will continue through 2014. Inventory levels for ground-oriented home types will be low from a historic perspective and home ownership demand will stay strong as affordability remains in check due to the continuation of accommodative borrowing costs,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

Read the Complete Market Watch Report Here

Here's a small video by Jason Mercer, Senior Manger of Market Analysis - Toronto Real Estate Board

 

Displaying blog entries 1-3 of 3

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Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155

Contact Information

Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155