8 Mar

February 2018 Market Stats – TREB Market Watch

Real Estate News

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January was a slow start to the year but we’re already seeing a 4.2% increase in the average sale price as the market comes to terms with the recent changes in real estate and mortgage regulations. The slow start can partly be attributed to the more stringent B20 regulations for uninsured mortgages resulting in reduced purchasing power for buyers.

However, when comparing to February 2016, we find that the overall price in the Greater Toronto Area is up about 12% for all home types. This puts us in line with the TREB’s 30 year average of annual appreciation and indicates that we are entering a healthier market for both buyers and sellers.

We will probably not see the full effect of the B20 stress test on the real estate industry for several more months as more buyers and sellers come back onto the market.

Toronto, Ontario, Real Estate, February, 2018, Statistics

February 2018 market stats for the Greater Toronto Area sourced from TREB market watch.

 

2 Feb

January 2018 Market Stats – TREB Market Watch

Real Estate News

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Year-over-year inventory levels are up but this month’s housing stats shows that the Greater Toronto Area is entering a more balanced market.  Traditionally, a market shift towards a buyer’s market happens closer to 5-months of inventory.

Assuming your mortgage rate is 3.20%, the monthly payment would be about $2,851 based on a mortgage amount of $589,426 (20% down payment of the current average home price of $736,783)

January, 2018, TREB, Toronto, Ontario, Mortgage, Stats, Condo, Townhouse, Detached

January 2018 market stats for the Greater Toronto Area sourced from TREB market watch.