Monthly Archives: March 2017

Month: March 2017 Even Top one per cent Earners of Toronto Are Priced Out Of Housing Market, BMO notices

  Toronto’s runaway house prices could threaten the city’s economy if even the top 1 per cent of earners find themselves priced out of the market, as is now happening, the Bank of Montreal is warning. BMO Chief economist Douglas Porter crunched the numbers and found that someone earning $225,000 a year — right at the cutoff point of the top 1 per cent — will not be able to buy an average-priced single-family home in Toronto. That’s despite the fact this earner would be considered rich in accordance with existing tax laws. Anyone in Ontario earning above $220,000 pays

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Month: March 2017 Surging sale of $1 million-plus Toronto homes genarating calls for new steps

  Sales of single-family detached houses obtaining prices of at the least$ 1-million have almost doubled this year in 2017 in the Greater Toronto Area, as economists conjure the possibility of a real estate bubble. The GTA recorded 2,876 sale of detached properties of $ 1 million or more in January and February, 2017, compared with 1,548 in the first two months of 2016, a new study by Sotheby’s International Realty Canada shows. Fierce competition is common amid great demand and a shrinking number of monthly listings, said Brad Henderson, the chief executive officer of Sotheby’s in Canada.” There are

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Month: March 2017 Don Mills home sold for $1.15 million over asking in 2017

  Fifty years ago, a young pair paid $27,000 for a modest home in Don Mills. That approximately 1,500 -square-foot house sold for $2.3 million, more than $1.15 million over the nearly $1.19 million list price on Wednesday. The home on Norden Cres. near Lawrence Ave. East and Don Mills Rd., received 31 offers following 175 showing over nine days. Two weekend open houses attracted another 75 onlookers, told Mr. Mansoor of Royal Lepage Signature Realty.” We anticipated it would be busy. We could not have predicted that outcome,” he said on Friday.” In terms of that neighborhood, it’s the

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Month: March 2017 Toronto house sold more than $1 million over asking price in bidding showdown in early 2017

  A house in Toronto lately sold for more than $ 1 million over asking, as the average price for houses sold in the Greater Toronto Area in December, 2016 skyrocketed by 20 per cent of the prices over the previous December, 2015. The split-level home, located along 19 Talwood Dr. in the Lawrence Avenue East and Don Mills Road area, sold by Ecko Jay Realty Ltd Brokerage on Nov. 10, 2016 for $2,658, 000 after being listed at world prices of $1,488, 800.   The open-concept property offered “privacy galore” and “genuinely feels like being in the two countries,”

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