MY TORONTO by SHAWN VENASSE - Sales Representative

ANATOMY OF AN OFFER Although geared to the US market, much of this informative video is true in Canada and specifically in Toronto. For more details and guidance on the offer process, it is always prudent to consult with your real estate lawyer or a licensed real estate sales representative. Also, feel free to review these helpful guides: 1. CMHC HOME BUYER GUIDE ; 2. RECO's HOME BUYING GUIDE ; and, 3. TREB's BUYING & SELLING PROCESS . If you do not have your own representation, then please feel free to contact me, SHAWN VENASSE - Sales Representative , at 416.921.1112 or shawn@ellidavis.com . It will be my pleasure always to be of assistance. ( The content contained herein is solely for information purposes only. Furthermore, this post is not intended to solicit anyone under contract. ) #nitsauc

Substantial year-over-year increase in April sales 9,042 home sales were reported through the Toronto Real Estate Board MLS in April 2019, a jump of 16.8 per cent compared to April 2018. The average selling price for all home types combined was up by 1.9 per cent over the same period – the strongest annual rate of growth so far in 2019. Condos continue to trend as a positive driver of year-over-year price growth. However, active listings for the month dropped below levels seen in April 2018 and new listings are not keeping pace with sales - an environment that supports pricing acceleration. This, in combination with the OSFI mortgage stress test, represents a formidable challenge to the first time home buyer, the root of the real estate market.  A report issued May 3rd by Canada Mortgage and Housing Corp. citing that there has been “improved alignment overall between house prices and housing market fundamentals” since the stress test was implemented, can be seen as...