CENTURY 21 Heritage Group Ltd., Brokerage*
- 905-883-8300 ext 3713
- #3 & 7-11160 Yonge Street
Richmond Hill, ON L4S 1H5
Welcome to my Website
As a CENTURY 21® Real Estate professional, I am dedicated to providing you with the highest quality service possible. My personal knowledge of the local Real Estate market is combined with the power of the CENTURY 21 brand - the most recognized name in Real Estate today.
Let me assist you in finding your dream home, in a neighborhood that is right for you, and in the price range you want. If you are interested in selling a property, I also have the expertise to help you get the fastest sale possible and at the best price.
I look forward to the opportunity of working for you!
Richmond Hill, ON L4C 6G8
1,400 living area
DECEMBER 2016 TREB MONTH STATISTICS
Average price of a single detached home in December across GTA went up almost 21% compared with 2015 and it doesn't look price growth will slow down anytime soon due to a shortage of properties on the market. Condo market showed strongest sales rates followed by detached homes market.
Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half. Total new listings for 2016 were down by almost four per cent. In 2016, we saw policy changes and policy debates pointed at the demand side of the market. If we want to see a sustained moderation in the pace of price growth, what we really need is more policy focus on issues impacting the lack of homes available for sale,” said Jason Mercer, TREB’s Director of Market Analysis. "It is important to point out that the strong demand that we experienced in 2016 was very much domestic in nature. TREB recently commissioned Ipsos to survey its Members with regard to the level and type of foreign buying activity within the Greater Toronto Area. The results of the Ipsos survey suggest that the level of foreign buying activity is low in the GTA. Only an estimated 4.9 per cent of GTA transactions, in which TREB Members acted on behalf of a buyer, involved a foreign purchaser. In the City of Toronto, the share of foreign buyers was five per cent,” continued Mr. Cerqua of TREB
With continued strong rates of price growth, housing affordability is a growing concern. Unfortunately, the City of Toronto’s Budget Committee is considering an increase to the Land Transfer Tax that could see buyers of average-priced homes pay another $750 to the City, which would represent a seven per cent increase to the $11,000 that they already pay City Hall as an upfront Land Transfer Tax closing cost. This would be on top of the $12,000 that is also paid to the province. First-time buyers could end up paying $475 more, or, at best, be no better off, even though the province recently doubled their first time buyer LTT rebate.
Source of data: TREB