GTA Monthly Resale Report for October 2012

 Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011.  

"Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July.  

The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase," said Toronto Real Estate Board (TREB) President Ann Hannah.  

The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011.  The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.  

"We continue to see price increases well above the rate of inflation.  Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes," said Jason Mercer, TREB's Senior Manager of Market Analysis.  

  

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Best regards,

Ritesh JoshiYour Next Door Realtor

www.riteshtherealtor.com

647-281-3424

Are You Ready To FALL BACK ONE HOUR TONIGHT ?

Turn your clocks back one hour this weekend.
Daylight saving time ends November 4th at 2 a.m.

The weekend most Canadians fall back one hour is also the ideal time to tackle seasonal safety projects. A lot of the routine maintenance on your home and car should be done twice a year, so what better time to start checking items off your "to-do" list?

 

 

 

 

 At the same time better you look at following things around your house,
 

• Replace the batteries in your smoke and carbon monoxide detectors, and test both devices to make sure they are in working order.
  
  Tip: Don't toss the batteries; there may still be juice in them. They can be used in children's toys, media players or electronic devices. Squeeze out every drop of power, then recycle them.
• Clean gutters and downspouts to keep debris from accumulating. This is especially important now that the leaves are falling.
• Make an appointment to have your furnace cleaned and inspected by a qualified technician so it is working properly and efficiently all winter.
• Bring out of hiding, all the winter gear you'll need to clear your walk, like shovels, sand and salt.
• Have your chimney cleaned so your fireplace will be ready for use.
• Go through your medicine cabinet for expired medication. Your pharmacist should be able to either take your old medications or provide you with information about where to dispose of them.
• Inventory your home's first aid kit and replace items that are expired, or replenish items like bandages that may be running low.
• Switch your incandescent lights to compact fluorescent lights (CFLs). Although initially more expensive, CFLs save you money in the long run; they use 75% less electricity and can last up to 10 times longer.