7 Sep 2011

August home sales jump 24 percent

People continue to flock to Toronto, as the latest housing report from the Toronto Real Estate Board indicates home sales were swift last month.

According to the TREB, in August, more than 7,500 properties were sold in the GTA, a rise of 24 percent in year-over-year sales. Last year during the same 31-day period, just under 6,100 homes were purchased.

While sales increased, the ability to afford a home in the GTA did not, as the report indicated the average home sold for $451,663 – a price hike of 10 percent when compared to August 2010.

Richard Silver, president of the TREB, said home affordability could be aided, however, with the removal of the land transfer tax, which officials are not expected to renew when it expires later this year. Also helping lower home ownership costs, according to TREB's senior manager Jason Mercer, are affordable mortgages, as the interest rate has remained low for several months now.

Home ownership typically brings an increased need for extra storage. GTA residents can keep their expenses low there as well, as all of Jiffy Self Storage units are eminently affordable. 

Be Sociable, Share!
Comment

Related Articles [3]

Storing Your Summer and Fall Clothes for the Winter

February 27th, 2019
If you live in a home where closet space is at a minimum it can be frustrating trying to keep clothes stored free of wrinkles. It can also lead to annoying clutter, with...

Guide for Planning a Do-It-Yourself Home Move

October 15th, 2018
Although professional movers can get the job done quickly and smoothly, you’ll often pay a premium for their services. Whether you’ve just bought a new home or are moving...

How To Organize Your Home To Maximize Space

March 26th, 2018
One of the realities of 21st-century living is that people are being forced to cope with minimalist spaces. This is especially true of people who are living and working in...

Leave a Comment






Recent Posts

Blog Categories

Archives

Subscribe to RSS Feeds
Essential SSL