TORONTO, February 19, 2013 – Greater Toronto Area REALTORS® reported 2,823 sales through the TorontoMLS system during the first 14 days of February. This result represented a decline of 8.3 per cent compared to the same period in 2012.
The number of transactions was lower for most home types in comparison to last year, but so too was the number of new listings. This means that market conditions remained quite tight, especially for low-rise home types. The result was continued price growth over last year,” said Toronto Real Estate Board President Ann Hannah.
The average selling price for Toronto MLS transactions in the first half of February was $509,061 – up by four per cent in comparison to the same time last year.
“The annual rate of price growth so far in February has been in line with expectations for 2013. The average selling price in the GTA will continue to grow this year but at a slower pace compared to 2012. The basis of this price growth will be the low-rise segment of the market, for which months of inventory and therefore choice for buyers remains very low,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Greater Toronto REALTORS® reported 7,092 residential transactions through the TorontoMLS® system in November – up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year. “We have seen strong annual sales growth through the 2011 fall market. The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” said Toronto Real Estate Board (TREB) President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.” The average price for November transactions was $480,421, representing an increase of almost 10 per cent in comparison to $437,494 in November 2010. "Despite strong price growth this year, the housing market remains affordable in the GTA," said Jason Mercer, TREB’s Senior Manager of Market Analysis. "The correct method of assessing affordability is to consider the share of the average household’s income that is dedicated to mortgage principal and interest, property taxes and utilities. Currently, this share remains in line with generally accepted lending guidelines. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a more moderate pace."
Purchasing Brampton real estate is one of the biggest investments you can make. It is essential to have a real estate lawyer look over all the paperwork to make sure that everything is has been done according to the law. Considering the cost, it really is a very small price to pay to make sure that everything has been put into place properly and nothing has been left outstanding.
A real estate lawyer will perform a title search to make sure that the property is completely free of any judgments or liens. This will show that the seller does indeed have the right to legally sell the property.A real estate attorney can accomplish this service very quickly since he will have relationships working with companies that do title searches.
The lawyer will also go over the contract to ensure that all laws have been adhered to and to make sure that all specific issues have been properly addressed.
Understanding the contract:
You need to completely read through the real estate contract you are signing. Many people have the tendency to skip over parts that they do not fully understand, and when this much money is on the line, it is your responsibility to make sure that you understand everything.Your Brampton real estate lawyer can go over the contract and answer any questions you may have. This is the time to make sure that everything is understood because once the papers have been signed it may be too late.
It can get very complicated when property is being transferred. To complicate things even more, there may be a transfer from one partnership, trust or a corporation to another. In these cases a real estate attorney will be needed to prepare the contract and make sure that everything is consistent according to the law.
Real estate has its share of complexities and the bottom line is that you can spare yourself some grief by hiring a real estate lawyer. You'll have the peace of mind of knowing that nothing can go wrong because you will better understand the contract you are signing and know that it corresponds to the law.
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Sales and Price Increase in May
June 3, 2011 -- 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, at 16,076, was down 15 per cent compared to last year.
"Positive economic news and low borrowing costs led to strong sales through the first five months of the year, including the increase in May," said Toronto Real Estate Board President Bill Johnston. "At the same time, the market has become much tighter compared to last year, due to a substantial dip in new listings."
Homes were on the market for an average of 23 days and sold for an average price of $485,520– up nine per cent compared to $446,593 in May 2010. The strongest rate of price growth was experienced for single-detached homes sold in the City of Toronto.
"We have seen clear-cut seller's market conditions emerge over the past two to three months," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "The robust price appreciation that we have seen will hopefully prompt more households to list, resulting in a more balanced market later this year," continued Mercer.
Median Price In May, the median price was $400,000, from the $376,750 recorded during May of 2010.
First launched as an environmental awareness event in the United States in 1970, Earth Day is celebrated as the birth of the environmental movement.
Earth Day 2011 is said to be the largest, most celebrated environmental event worldwide. More than 1 billion people in over 170 countries will join Canada and spend a day dedicated to address local environmental issues.
This year Earth day will be cebrated on April 22. Earth day provides an oppurtunity for positive actions and results.
In Canada, Earth Day has grown into Earth Week and even Earth Month to accommodate the profusion of events and projects. They range from large public events, such as Victoria's Earth Walk (5,000 participants), Edmonton's Earth Day Festival at Hawrelak Park (30,000 participants), and Oakville, Ontario's Waterways Clean-up (2,000 participants) to the thousands of small, private events staged by schools, employee groups and community groups
Greater Toronto Realtors reported 9,262 transactions through the TorontoMLS® system in March 2011, representing the second best March result on record. The number of transactions was 11 per cent lower than the record result reported in March 2010.
In Brampton West W23 there was 679 active listing and 466 got sold with average price of $354,490 and for only 20 average numbers of days on the market.
Brampton East W24 there was 566 active listing and 334 got sold with average price of $ 378,901 and for only 19 average numbers of days on the market.
Malton W18 there was 97 active listing and 46 got sold with average price of $ 293,834 and for only 30 average numbers of days on the market
"The strong home sales reported in March and throughout the first quarter of 2011 have been based on a solid affordability picture and improving economic conditions in the GTA and country-wide," said Toronto Real Estate Board (TREB) President Bill Johnston
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