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REAL REPORT

JULY 2016

Strong July Price Growth TORONTO, ONTARIO, August 4, 2016 – Toronto Real Estate Board President Larry Cerqua announced that TREB REALTOR® Members reported 9,989 home sales through TREB’s MLS® System in July 2016. At just shy of 10,000 transactions, this was the best result on record for the month of July. While sales were up on a year-over-year basis, the number of new listings was down over the same period, representing the continuation of a troubling trend in the GTA.

 

“GTA REALTORS® have been working very hard on behalf of their buyer clients to help them find a home meeting their needs. Unfortunately, listings for singledetached and semi-detached houses and townhouses continue to be in short supply. The result has been an increase in pent-up demand and annual rates of price increases well above the rate of inflation. Housing policy is now top of mind for all levels of government. Policy makers need to be focusing on solutions to the sustained lack of low-rise inventory throughout the GTA,” said Mr. Cerqua. The MLS® Home Price Index (HPI) Composite Benchmark was up by 16.7 per cent in July 2016 compared to the same month a year earlier. Similarly, the average selling price for all home types combined was up by 16.6 per cent year-over-year to $709,825.

 

“Relatively strong labour market conditions, above-inflation average income growth, and record low borrowing costs have kept many households confident about purchasing a home. As long as very strong buying intentions are up against an extreme shortage of listings, expect home price growth to greatly outpace the rate of inflation,” said Jason Mercer, TREB’s Director of Market Analysis.

 

The negotiating skills of an experienced Realtor are invaluable in all market conditions and without that experience, disastrous, in a market such as today’s. Call me to discuss your real estate needs and challenges.

MARKET STATS WATCH

YEAR

 

Sales

 

Avg Selling Price

 

Avg Days on Market

2016

 

9989

 

$709,825 

 

16

2015

 

9813

 

$608,875 

 

22

RECENTLY SOLD

21 Grenville Street Suite 4508

$575,000

  ________  testimonial   ________

"Rosanne has sold several of my properties. She is a consummate professional who has exceptional negotiating skills, superb marketing technique and the ability to deliver all that she promises. I would not hesitate to recommend Rosanne to anyone looking to sell real estate in Toronto".

Brandon Frankfort

FEATURED  LISTING

6 Parkwood Avenue, Suite 501

Offered for Sale at $733,000

My Toronto this Month

July Rainbows

John Fogerty at Molson Amphitheatre

Summer salads!

Working out at the Casa Loma steps

ROSANNE AGASEE B.A

Real Estate Sales Representative

 

Personal Number: 416.993-6765

E: rosanne@rosanneagasee.com

www.rosanneagasee.com

Forest Hill Real Estate Inc., Yorkville

28A Hazelton Avenue

Toronto, Ontario M5R 2E2

Office: 416.975.5588

Fax: 416.975-8599