Real Estate in the News

Posted by:

This week’s top real estate news in Ontario and how your real estate business could be affected.

Toronto house sells for more than $1M over asking amid record year for home sales
The split-level home, located at 19 Talwood Dr. in the Lawrence Avenue East and Don Mills Road area, sold by Ecko Jay Realty Ltd Brokerage on Nov. 10 for $2,658,000 after being listed at a price of $1,488,800.

Toronto home sales set record in 2016 as purchases surge 11.8%
Toronto’s housing market just capped off a second straight record year of sales. Total purchases across the Greater Toronto Area rose 11.8 percent to 113,133 in 2016, with the dollar value of those transactions hitting $82,578,210,100. The average selling price across the GTA rose 20 percent in December on a year-over-year basis to $730,472 amid a dearth of inventory as total active listings plunged 48.1 percent.

Millennials flocking to Hamilton
According to a 2016 study by the Social Planning and Research Council of Hamilton, there are now more millennials than baby boomers living in Hamilton, with millennials making up 27.58% of the city’s population — which is above the provincial average of 26.84%. It’s a shift that’s been happening in the past few years, with the city’s millennial population – people aged 20 to 34 – increasing 9.9% between 2011 and 2015, according to Statistics Canada. In comparison, Toronto has only seen an increase of 5.85%.

Desire for detached homes growing in Ontario, new research from OREA shows
In Toronto, where the supply of detached homes is at an all-time low, the demand is up 21 points from a year ago, with 50 percent of buyers saying they are likely to buy this housing type, according to the Ontario Home Ownership Index, OREA’s semi-annual consumer study conducted by Ipsos Reid.

Stay up-to-date with all real estate news updated continually on our Facebook page and join our weekly newsletter.


Upcoming Realty Point Seminars

  • Agent Training Webinars
    New Agent training courses have been added and scheduled for you on Tuesdays at 11:00 am and Thursdays at 7:00 pm. Regular topics include using the Agent CRM and learning how to create a website in your Agent Dashboard. These webinars are available online only, for more information and to register to please log in to your Agent Dashboard and visit the Office Events Section.

More information about upcoming seminars and to register to visit this page.


Learn more about Realty Point

  • Download our brochure
    Realty Point is the chosen real estate brokerage platform for top-performing real estate agents in Ontario that are ready to open their own brokerage without the high expenses of competing for franchise brands and staffing issues that increase costs and decrease your income. We can manage your brokerage back-end, from a one-person brokerage to handling a full brokerage of hundreds of agents at a per-transaction fee. Realty Point keeps your costs low and revenues high through our unique and innovative brokerage solution.
0