Bosley Real Estate Ltd., Brokerage is a 100% family owned and operated Real Estate company that has been successfully assisting the buying and selling public since 1928.
There seems to be great interest from our government to slow down the incredible price growth of homes throughout the country. At its core, the plan sounds rational. It’s like breaks to a speeding car; However, apply too much pressure and you can come to a sudden, and often uncontrolled, stop. But just the right pressure keeps us safely on the road. The trick is in finding the right pressure. I believe it is important to remember that while long running, our market is rooted in strong fundamentals, the biggest being that Toronto is an energetic, vibrant, multicultural city with plenty of opportunity. We know this city better than anyone, so if you are looking for expert advice on where to live call one of our professional agents. We can find the right neighbourhood for you.
We aren’t sure what is worse...the break-up of Brangelina or the federal government’s proposed new mortgage rules. Like other government initiatives we Canadians can be pretty forgiving, and it’s likely that after we have adapted to the changes things will return to normal. But the end of Brangelina? Well that’s going to leave a scar. Maybe a Blue Jay playoff run could dull the pain.
Ah September. Our favourite month. It’s not just the hot days and cool nights, or the pennant race or even the fact that pro football is back. For us, September means more listing and sales activity and after a traditionally slower August, its time to open the floodgates of new property inventory. It’s not a minute too soon either. August inventory levels where challenging at best.
Parents Unite. We made it through the first week of school. Granted it was a short week but still... And while our minds shift from lazy days at the cottage sipping frosty beverages by the dock to the daily grind of school drop offs, after school programs and homework, one thing is for sure...the real estate market never sleeps. Sure it ebbs and flows but it is alive and well in the 416.
We are starting to sound like a broken record as much of what we are reporting in the GTA real estate market last month is a close copy to this month. Again, sales are down, new listings are down, active listings are down and months of inventory is down. About the only thing up in the 416 are prices for both condominium apartments (up 5.5% in August) and detached homes (up 4%), with a year over year average increase of 17.7%, one of the biggest price jumps in 2016. Two notes of interest; August is traditionally a slower month for transactions so it should not be a surprise that the average number of days on market increased slightly, what is surprising however is the 13% increase in sales.
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