Archive for April, 2015

Would You Buy A Home Near The Tracks?

Would You Buy A Home Near The Tracks? Photo

Every buyer has a list of must-haves and deal-breakers when they start their home search.

As the search progresses, this list often changes.

Things that were initially important become less so when a buyer sees how little supply there is in the Toronto real estate market.

A few examples?

  • Having a powder room on the main floor.
  • Having a 4th bedroom on the 2nd floor.
  • Having a private driveway.

Don’t get me wrong, none of the above items are impossible to find in a house in Toronto.

Depending on location though, any one of them might be very tough to come by.

Plain and simple: a Toronto home buyer needs to be willing to compromise at least a bit on their list of must-haves and deal-breakers.

One thing that almost always stays on the list though, is avoiding houses that are close to the train tracks.

This is such a negative in many buyer’s minds, that it’s not even up for discussion.

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March 2015 Market Stats: Infographic & Report

March 2015 Market Stats: Infographic & Report Photo

 

Following is TREB’s market report for March 2015:

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 8,940 sales in March 2015.

This result represented an 11 per cent increase compared to March 2014.

Sales were up for most major home types, both in the City of Toronto and the surrounding regions.

New listings were also up, but by a lesser 5.5 per cent, indicating tighter market conditions.

“Home sales increased compared to last year as the cost of home ownership remained affordable, with lower interest rates going a long way to mitigate the effect of rising home prices. However, a substantial amount of pent-up demand remains in place, especially as it relates to low-rise market segments. This suggests that strong competition between buyers, which has fuelled strong price growth so far this year, will continue to be experienced throughout the spring,” said Mr. Etherington.

In March, the average selling price for all reported transactions was $613,933 – up 10 per cent year-over-year.

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