Award winning service

March 3, 2017 report


March 3, 2017 -- Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,014 residential sales through TREB's MLS® System in February 2017. Despite the fact that February 2016 had one more day due to the leap year day, this result was up on a year-over-year basis by 5.7 per cent compared to 7,583 sales reported last year.

"The February statistics tell me that many Greater Toronto Area households continue to view home ownership as a great long-term investment. The high demand for ownership housing we're seeing is broad-based, with strong sales growth for most low-rise home types and condominium apartments. This makes sense given the results of a recent consumer survey undertaken for TREB by Ipsos, which found an even split between intending first-time buyers and existing homeowners who indicated that they were planning on purchasing a home in 2017," said Cerqua.

While the demand for ownership housing grew over the past year, new listings entered into TREB's MLS® System in February were down on a year-over-year basis by 12.5 per cent to 9,834.

The MLS® HPI Composite Benchmark Price was up by 23.8 per cent compared to February 2016. Similarly, the average selling price was up by 27.7 per cent year-over-year to $875,983. Annual rates of price growth continued to be strongest for low-rise home types, particularly detached houses. Growth rates for condominium apartment prices were also in the double digits, likely a result of strong demand from first-time buyers.

"The listing supply crunch we are experiencing in the GTA has undoubtedly led to the doubledigit home price increases we are now experiencing on a sustained basis, both in the low-rise and high-rise market segments. Until we see a marked increase in the number of homes available for sale, expect very strong annual rates of price growth to continue," said Jason Mercer, TREB's Director of Market Analysis.


Staging


There is an old saying "The theatre starts with the coat check".

The porch, the foyer and a hallway are not your main living spaces, however these are the key areas by which your home will be judged by the demanding home hunters entering your house or apartment.

There is nothing worse than creating a negative first impression, especially if you spent a fair amount of time and money renovating and preparing your home for sale.

Make sure the entry is clutter-free and sparkling clean. Give your front door a fresh coat of paint. A couple of fresh, well-fed planters or winter arrangements will welcome the visitors inside. Do not let people trip over your shoes. Put away unseasonal items, leaving only the necessary clothes for each family member.

Investing in a new clean floor mat will not break the bank.

A console table or a small stand will help you organize your keys, purses and decorative items. Make sure they are proportional to the space size and do not block the traffic. A large horizontal mirror may visually enlarge a tight foyer.

A fresh floral arrangement will give the house a sense of luxury as well as fill the entrance with the light pleasant scent. Avoid using strong smelling flowers, which may trigger allergic reactions or negative impressions.

Do not forget, small details can make a huge difference. The way you greet potential buyers can either make them fall in love with your home from the first sight or push them away for good.

Download this "Staging Deco" brochure.

Staging Deco