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Greator Toronto Real Estate Market Statistics

Last month(December 2009) there has been roughly -47% Active listings compared to 2008.

The amount of real estate sales in (December 2009) was at a high of +115%, highest in the last 4 years.

What does this mean, is that there aren’t that many active listings and people are still buying real estate in Toronto, Mississauga and the greater Toronto area more then ever.

What will happen in the future for Ontario real estate when the HST will start in July?
I personally think that sellers will want to sell their properties before hand to avoid additional costs. What I mean is that on a average home worth $400,000 a seller will have to pay $1600 more in taxes on commission when the HST will be in effect. Therefore a lot of people will want to save that money and sell/close before hand to avoid the additional cost.

Posted under Buyer, First Time Buyers, Seller
  1. George Keeming Said,

    The HST will mean better jobs and will allow more people to realize the dream of home ownership.

    The Canadian Centre for Policy Alternatives issued a report looking at low-income, middleclass and wealthy families and found that the HST is going to be revenue neutral.

    A recent report by the TD Bank estimates the HST will reduce cost of doing business in Ontario by roughly $5.3 billion and that the majority of cost savings will be passed on immediately to consumers.

    A report by economist Jack Mintz, “Ontario’s Bold Move to Create Jobs and Growth” confirms that Ontario needs to reform its tax system to create jobs and put Ontario back on its feet. It says, as a result of the HST, within 10 years Ontario would see:
    o An estimated 591,000 additional new jobs
    o Increased capital investment of $47billion
    o Increased overall annual worker incomes of up to 8.8 per cent, or $29.4billion

    As a result of moving from two taxes to one, businesses across Ontario will save $500 million in paperwork costs. Realtors will receive tax credits for the things they need to run their business from vehicles to computers. As in other industries, realtors will be able to pass on savings to their customers.

    Realtors have to ask themselves, are they going to hoard massive profits or be fair to their customers. We ask consumers will have to watch this too and chose our representative accordingly.

    This is being done to create jobs. As the TD report stated, the HST “should help spur business investment, employment and income growth.”

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  2. Carico Said,

    I wish the realestate market would pick back up. It doesn’t seem like that many properties in Fla are selling but maybe b/c we were the hardest hit.

  3. oumiddoch Said,

    Thank you very much for your topic

  4. bali car rentals Said,

    toronto real estate prices “pathetic”

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