Archive for May, 2016

April 2016 Market Stats: Infographic & Report

April 2016 Market Stats: Infographic & Report Photo

Following is TREB’s market report for April 2016:

Toronto Real Estate Board President Mark McLean announced that there were 12,085 sales reported through TREB’s MLS® System in April 2016.

This result, which represented a record for the month of April, was up by 7.4 per cent in comparison to April 2015.

For the TREB market area as a whole, annual sales growth was experienced for all major home types except semi-detached houses.

In the City of Toronto, sales were down for detached and semi-detached houses as well as townhouses on a year-over-year basis.

This dip in sales in the “416” area code was due to a lack of low-rise listings.

Many would-be buyers were not able to find a home that met their needs.

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What A Difference A Season Makes

What A Difference A Season Makes Photo

More than once over the course of these past few months, I’ve seen a house come on the market and sell for significantly more than what it was unsuccessfully listed at back in the fall/winter.

You could argue that this makes sense – that in a rising market a house should sell for more now than it would’ve 6 months ago.

Maybe, maybe not. (More on that towards the end of this blog post).

Regardless, it’s interesting to see such a scenario play out in real time with one specific property.

Here’s a breakdown of what happened with one of the houses I’m referring to:

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