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Toronto Real Estate Board Sales Up 22% from Year. Average Home Prices Up 5.8% Year or Year. In Toronto Average Detached house sold for an average of $1.37 million. A tighter supply of new listings helped push the average resale homes and condo prices in the Toronto region up 5.8 per cent to $843,115 year over year in September the highest point so far in 2019.... A 22 per cent jump in the number of sales last month 7,825 compared to 6,414 in September 2018 said the Toronto Real Estate Board (TREB) on Thursday. In Toronto Average Detached house sold for an average of $1.37 million. The price of a Detached home in the GTA Toronto area rose 4.1 per cent last month to $1.05 million on average. The biggest price gains in September occurred in the townhouse segment of the market, which saw a 6.8 per cent increase compared to September 2018 with an average price of $677,387. Condo prices were 4.2 per cent higher than the same month last year with an average sale price of $595,013. In the 905 areas, condo prices rose 9.2 per cent year over year to $497,403 on average. Rents on one-bedroom condos rose 4.5 per cent year over year to $2,262 on average. Two-bedroom units rented for $2,941 on average, a 4.2 per cent increase over last year.

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Canadian Housing Sales Rise For Sixth Consecutive Month There’s been a turnaround in home sales this past fiscal year. New data from the Canadian Real Estate Association (CREA) shows an improved market over the past six months. The shift in sales has been so dramatic, the organization has gone public with altering its sales predictions for the remainder of 2019. These sales include the rising sales in Ontario’s housing market, including Toronto. CREA predicts that pri...ces will go up a slight, yet significant 0.5 per cent in Canada this year a stark contrast from the June forecast of a 0.6 per cent decline in sales. The Toronto Real Estate Board (TREB) also reported that the number of properties sold in the GTA increased from 6,916 to 8,595. Sales of Toronto home sales jumped 13 per cent year-over-year in August with an average price listed at $802,400. That’s a 4.9 per cent increase in benchmark price. Also driving the sales momentum is investment in Toronto condos. Urban Toronto reported that GTA condo construction reached a record high in the first quarter of 2019 and according to Urbanation Inc.’s market results, condo sales are up by 77 per cent from last year. Looking at the Toronto market specifically, properties priced below $1 million were guaranteed to sell quickly and often led to bidding wars. He noted that $1 million listings in neighbourhoods like Leslieville, Riverdale, the Danforth Village and the Beaches usually went for another $100,000 over asking.

First-Time Home Buyer Incentive Program Officially Launched Visit www.24HourMortgageLoans.com for More Details & How to Apply Canada’s new First-Time Home Buyer Incentive program is now up and running, created to assist first-time homebuyers in purchasing property.... Free List of Condos that Qualify for this Program visit Canada’s #1 Condo Investment Group www.CondoInvestmentGroup.com for Brand New Pre-Construction Condo’s $100,000 to $200,000 Under Market Value First-time homebuyers millennials, in particular will benefit from the program through reduced monthly mortgage payments that won’t increase the required down payment for a home. Who Qualifies for the Program? As many as 100,000 Canadian families are expected to benefit from the $1.25-billion, three-year program. However, there are a few requirements for first-time homebuyers to qualify for the program: First-time homebuyers can receive up to 5% of the cost of an existing home, or up to 10% of the cost of a new home, as long as they have a household income of less than $120,000. Buyers will be required to pay back the incentive within 25 years or whenever they sell the home, whichever comes first. The government will share in the profits if the property is sold for more than its original purchase price; but, it will also share in the losses if the property decreases in value and is sold for less than its original purchase price. Visit www.24HourMortgageLoans.com for More Details & How to Apply

Toronto home sales jump 13% and prices climb 5% as demand outstrips supply Housing sales in the GTA rose 13.4 per cent in August compared with the same month a year ago, the Toronto Real Estate Board said in its monthly report. There were 7,711 homes sold versus 6,797 in August 2018. The MLS Home Price Index Composite Benchmark for August 2019 rose by 4.9 per cent on a year-over-year basis, the Toronto board reported. Last month’s average selling price of $792,611 showed a 3.6 per cent increase year-over-year, it said. Condominiums, up 8 per cent from a year ago, jumped the most in price followed by higher density low-rise homes, then detached houses with a 3.1 per cent gain from a year ago, the statement showed.