GTA, Toronto and Mississauga Real estate market showing strong sales in March 2014

Below is the latest report from the Toronto Real Estate Board for last months results from the real estate market in the GTA

Enjoy!
Mark

TorontoMLS Sales Up in February

March 5, 2014 -- Toronto Real Estate Board President Dianne Usher announced that February 2014 home sales reported by Greater Toronto Area REALTORS® were up by 2.1 per cent compared to the same period last year. Total February sales amounted to 5,731 compared to 5,613 last year.

“Despite the continuation of inclement weather in February, we did see a moderate uptick in sales activity last month. The sales increase was largely driven by resale condominium apartments. New listings of resale condominium apartments were up on a year-over-year basis, giving buyers ample choice. This is in contrast to the listings situation for singles, semis and townhomes, where supply continued to be constrained. Some would-be buyers had difficulty finding a home that met their needs,” said Ms. Usher.

“If we see renewed growth in listings for low-rise home types, the pace of sales growth will accelerate as we move through the year,” Ms. Usher continued.

The average selling price for February 2014 sales was up by 8.6 per cent to $553,193, compared to the average of $509,396 reported for February 2013. The MLS® Home Price Index (HPI) Composite Benchmark was up by 7.3 per cent year-over-year.

“While the strong price growth experienced over the last year should prompt an improvement in the supply of listings, sellers’ market conditions will continue to prevail this year. Home prices, on average, will trend upwards at a pace well-above the rate of inflation. The impact of strong price growth on affordability will be mitigated by low borrowing costs,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Latest report from the Toronto Real Estate board for March of 2013

This is the Latest report from the Toronto Real Estate board for March of 2013

Enjoy!
Mark

Average Price up in March and First Quarter

TORONTO, April 3, 2013 – Greater Toronto Area REALTORS® reported 7,765 transactions
through the TorontoMLS system in March 2013 – down 17 per cent compared to 9,385
transactions in March 2012. While the year-over-year dip in March sales followed the
trend that has unfolded since mid-way through 2012, it is also important to note that the
Good Friday holiday was in March this year versus April in 2012. Generally speaking, there
are fewer sales reported on statutory holidays and weekends.

In the first quarter of 2013, sales amounted to 17,678 – down by 14 per cent compared to
Q1 2012.

"Home ownership remains affordable for a household earning the average income in the
Greater Toronto Area. There are many willing buyers in the marketplace today. While
some households have put their decision to purchase on hold as a result of stricter lending
guidelines or the additional Land Transfer Tax in the City of Toronto, other households
simply haven’t been able to find the right house due to a shortage of listings in some
market segments," said Toronto Real Estate Board President Ann Hannah.

The average selling price in March was $519,879 – up by 3.8 per cent compared to March
2012. The average price in Q1 2013 was $508,066 – up by 3.2 per cent compared to the
first quarter of 2012.

"The average selling price and the MLS® Home Price Index Composite Benchmark was up
on a year-over-year basis across most home types, especially in the low-rise market
segments where supply remains an issue. TREB's average price forecast for 2013 remains
at $515,000, representing a 3.5 per cent annual rate of growth," said Jason Mercer, TREB's
Senior Manager of Market Analysis.

Latest TREB report from June of 2012

this is the latest TREB report from June of 2012

I wish you all the best!
Mark


Low-Rise Home Types Drive June Price Growth
The average selling price in June was $508,622 – up by 7.3 per cent compared to June
2011. The mortgage payment associated with the average priced home in June, assuming
five per cent down and a five-year fixed rate mortgage amortized over 25 years, would
account for approximately 35 per cent of the average household’s income in the GTA after
adding property tax and utility payments.


TORONTO, July 5, 2012 – Greater Toronto REALTORS® reported 9,422 home sales
through the TorontoMLS system in June 2012. The number of transactions was down by
5.4 per cent in comparison to June 2011. The year-over-year decline was largest in the City
of Toronto, where sales were down by 13 per cent compared to June 2011. Sales in the
rest of the Toronto Real Estate Board (TREB) market area were comparable to a year ago.
“Buyers continue to face the substantial upfront cost associated with the City of Toronto’s
unfair Land Transfer Tax,” said TREB President Ann Hannah. “Recent polling by TREB
suggests that many households are considering home purchases outside of the City of
Toronto to avoid paying the Land Transfer Tax. This goes a long way in explaining the
disproportionate decline in sales in the City versus surrounding regions.”

“According to new mortgage lending guidelines set out by Finance Minister Jim Flaherty,
the GTA housing market remains affordable. The share of the average household’s income
going toward major home ownership payments for the average priced home remains below
the 39 per cent ceiling recently announced by Mr. Flaherty,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis.
“The average household in the GTA continues to benefit from a considerable amount of
flexibility to account for higher interest rates moving forward,” continued Mercer

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this is another place holder blog for mississaugaforsale.com and this link will direct you to my site:

http://www.mississaugaforsale.com/

Mississauga For Sale real estate in Mississauga - placeholder

This is another placeholder for Mississauga For Sale real estate in Mississauga.

That's the Absolute building on the right, many are calling it the Marilyn Monroe building. It's a huge success in Mississauga. Construction has not begun as yet.

I will update with entire past posts soon!

Thanks,

Mark

This is the latest report from the Toronto Real Estate board for the sales in May of 2005

This is the latest report from the Toronto Real Estate board for the sales in May of 2005
All the best!
Mark

TORONTO - Thursday, May 5, 2005.
With 8,834 sales recorded
through the TorontoMLS
system, April 2005 put in the
second best performance for that month
ever recorded, TREB President Ron
Abraham announced today. “April sales
were up 12 per cent over the 7,904
recorded in March,” Mr. Abraham said.
“Though down a little from the record
pace of April 2004 (9,168 sales), the
8,834 figure still indicates a hot, hot
market. In fact, had there been as many
sales days this year as in April 2004, we
might have set a new record.”
Overall, prices resumed their upward
trend in April, rising to 342,032, a three
per cent increase over March and six per
cent above the $321,131 recorded
during April of 2004.
Breaking down the total, 3,330
sales were reported in TREB’s 28 West
districts and averaged $316,446;
1,536 sales were reported in the 14
Central districts and averaged
$455,153; 1,775 sales were reported
in the 23 North districts and averaged
$380,778; and 2,193 sales were
reported in TREB’s 21 East districts
and averaged $270,293.