Posted August 30, 2017 07:00
Real Estate sales in Toronto have dropped 37.3% in the last month compared to this date last year. In Toronto, according to the latest report from the Real Estate Board, sales of single-family homes plunged nearly 43% compared to June 2016. Throughout the GTA, 19,614 new residential ads hit the market, implying an increase over last year of almost 16%. A few months ago, the number of ads rose 48.9% since May 2016. Year after year, Greater Toronto Area prices have risen 6.3%. We are in a flowing period that often follows the main announcements of government policy outlined in the housing market, said Tim Syrianos, TREB's president, in a press release. On the one hand, survey results show that many households are really interested in buying a property in the near future, but some of these potential buyers seem to be temporarily waiting to see the real impact of the Ontario Fair Housing Plan, Syrianos pointed out. Everything seems to indicate that the city's residents have preferred the suburbs, causing sales in the metropolis to fall sharply. Do not hesitate to contact me if you are thinking of selling your property or if you need advice in the process. I will gladly guide you to do it in the most satisfactory way possible.