Sat  Swaminathan

Sat Swaminathan

Sales Representative

ROYAL LEPAGE SIGNATURE REALTY, Brokerage*

Mobile:
(647) 261-6150
Office:
(905) 568-2121
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From the Desk of Faisal - Real Estate News for the period of May 15th - May 21st

Welcome to Properties Ontario’s weekly real estate update. Our team goes through numerous articles and summarize them for you! If you have any questions about buying, selling, or leasing residential or commercial space, we’re the team for you.

 

Statistics Canada April Employment

  • Employment rose by 106,500 in April, marking the biggest one month increase since 1976
  • The unemployment rate is now at 5.7% which is near 4 decade lows 
  • Over the past 12 months, Canada has added 426,400 jobs and over the past 24 months Canada has added close to 700,000 jobs 
  • Most gains in April (73,000) were full-time and in the private sector 
  • Wage growth now sits at 2.5% in April, above the rate of inflation 
  • The labour force also had a record increase of 108,100 as youth participation surges 

 

Canadian Real Estate Sales for April 

  • CREA reported 48,461 sales during last month, up 21% from March 2019 
  • When compared to the same month last year, the growth in sales is 4.2% but when compared to April 2017, the rate has declined 9.96% 
  • The largest annual gain in sales were in Niagara, Toronto and Quebec City 
  • The largest annual declines in sales were in Vancouver, Fraser Valley and Victoria 
  • Price of typical home in Canada fell 0.34% annually to $621,700
  • The typical price of $621,700 is 1.49% below the highest peak achieved last year 

 

Canadian Inflation Rate 

  • Inflation gained 2% year over year in April following a 1.9% increase in March 
  • 7 of 8 components of the Consumer Price Index were higher, led by food and shelter costs  
  • Inflation targets are being met which decreases chances of rate increases in 2019 

 

GTA April Detached Stats 

GTA April 2019 (April 2018 comparison in brackets) 

  • Benchmark Price: $934,500 (+1.04%)
  • Median Price: $870,000 (0%)
  • Average Price: $1,018,147 (-1.16%)
  • Number of Sales: 4,173 (+20.92%)
  • New Listings: 9,360 (+9.11%)
  • SNLR: 0.45 (balanced market, leaning towards buyer’s)
  • Active Listings: 11,051 (+0.86%)
  • MOI: 2.65 if no new listings came on the market 

 

Toronto April 2019 (April 2018 comparison in brackets) 

  • Benchmark Price: $1,131,700 (+1.98%)
  • Median Price: $1,050,000 (-2.77%)
  • Average Price: $1,355,764 (0%)
  • Number of Sales: 982 (+19.2%) 
  • New Listings: 2,050 (13.19%)
  • SNLR: 0.48 (balanced market) 
  • Active Listings: 2,126 (+11.36%)
  • MOI: 2.16 if no new listings came on the market 

 

 

Toronto Global City Ranking 

  • Schroders, a global wealth management firm, released its top 30 Global Cities report 
  • Toronto ranked 19th for 2019, slipping two spots from its 2018 rankings 
  • The top 30 are filled with US cities based on disposable income, population growth and many other metrics 
  • The top five were: LA, London, Hong Kong, New York and Boston 
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