Hot Toronto real estate market gets even hotter in May as prices, sales soar
TORONTO — The Canadian Press
The Toronto area’s real estate market set a record last month, with nearly 13,000 homes sold, despite sky-high prices and new federal mortgage rules targeted at Canada’s most expensive housing markets.
The Toronto Real Estate Board said Friday the number of sales last month was up 10.6 per cent from May 2015 and prices were up about 15 per cent. That came one day after its counterpart in Vancouver also reported record-breaking sales for the month.
For a detached house in the city of Toronto, the average price last month was $1.28-million, while the average price for all homes was $782,051, TREB said. Read more...TORONTO"s EAST END HAS THE HOTTEST REAL ESTATE IN THE CITY
The trendiest neighbourhoods in Toronto aren’t in the trendy west end, but the east.
Homes north of Danforth Ave. and east of the Don River are selling fast, according to data provided by the Toronto Real Estate Board. The area, which encompasses posh Playter Estates to the west and rough-around-the edges Woodbine-Lumsden further east, boasts the shortest sale times in the city, with homes averaging a mere 12 days on the market compared to a city-wide average of 21 days.
Boost Your Home Value!
Here are a four easy-to-do enhancements that will boost the value of your home, while simultaneously enhancing the quality of life for you and your family. These tips could mean tens of thousands when the time comes to sell.
- Plant a tree: Nothing adds curb appeal like a well-placed tree. Compare home values of streets with and without trees and the correlation is clear. Further, trees and plants have been proven to help with de-stressing, as well as lowering A/C consumption by up to 40%. Plus, you’ll be doing your part in helping the environment.
- Kill the clutter: All of us, whether we live in a modest apartment or a multi-million dollar home tend to accumulate stuff we don’t use or need. Dedicate a rainy Saturday to ditching these unwanted items - you’ll be amazed at how much fresher your space will feel. Plus, when you do make the decision to sell, you’ll have much less work to do to in getting your house show-ready.
- Update fixtures: Superficial upgrades are simple to do and make a world of difference, especially in an older home. Do you have a lovely old chandelier collecting dust? When was the last time you polished the brass door handle and knocker on your front door? Polish them, and let their true beauty shine. As well, adding new hardware to kitchen cupboards, for example, is a simple and relatively low-cost solution to jazz up any space.
- Improve your home’s air quality: No one likes a stuffy home. Have your upholstered furniture and carpeting steam cleaned regularly. You’d be surprised at the speed contaminants and allergens build up in every soft spot. This can cause odors you are not aware of, or worse, illnesses; especially for those with a compromised respiratory system. Rent a steam cleaner, or hire a cleaning company to tackle the tougher spots. Improving the air quality in your home will dramatically improve your quality of life, and the value of your home.
So spend a bit of time beautifying your home. You owe it to yourself and your family to love the home you’re in, and to protect its value whether or not you’re selling.
Should you wish to have a current valuation of your home, and specific suggestions on how to enhance and protect its value just reply to this email, or give me a call.