Canadian home sales defy expectations
The full national picture for February won’t be available until the Canadian Real Estate Board releases data later this month, but Bank of Montreal economist Sal Guatieri suggested in a research note that he thinks February’s market shows some momentum.
Sales of existing homes in the Greater Toronto Area nudged up 2.1 per cent in February compared with a year earlier, while prices continued to climb.
The latest data from the country’s most populous city, as well as other urban centres such as Calgary and Vancouver, suggest Canadian home sales fared better than some experts thought they would in February, and prices maintained their sturdy upward trajectory.
The average selling price on Toronto’s Multiple Listing Service last month was $553,193 – an increase of 8.6 per cent from a year earlier – the local real estate board said on Wednesday. The MLS Home Price Index, which seeks to create a more apples-to-apples comparison of prices over time by accounting for changes in the type and location of homes that are selling, was up 7.3 per cent.
Don’t have at least $1M ? Try this one …
SOLD – 16 De Grassi Street – LESLIEVILLE
It is a 3 bedroom, 1 bathroom row house on a 17.29 x 92.58 foot lot in Leslieville.
It was listed at $499,900
Just this past October 2013, I posted a 3 bedroom, 2 bathroom row house on a 17.09 x 92.58 foot lot at 14 De Grassi street.
For a row house, it was large and bright. And it was move right in. It was listed at $749,000.
It sold for $775,000.
This house at 16 De Grassi Sreet is the mirror image, though it isn’t renovated.
But with a new floor, new paint…
Maybe something that didn’t remind me so much of this…
And presumably a new kitchen and bathroom, this could be a really good house.
So, when it was posted for $499,900, it was pretty clear they were looking for a bidding war. And they got one.