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The May market stats were released by TRREB last week, and as anticipated the Toronto housing market is starting to see a cool down after a red hot start to 2021.

During May, 11,951 homes were sold in the area, down from 13,663 in April. This represents a 13% decrease compared to the previous month.

Despite the month-over-month decrease, home sales in Toronto increased by 4,594 compared to the same time period last year.

As expressed in previous market updates, the year-over-year increases are not surprising since it was around this time last year that the market was on pause during the COVID-19 health crisis.

RELATED: 5 Step Guide For Selling Your Home

May is typically the strongest month for Toronto real estate, but considering…

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A housing bubble occurs when there is a rapid increase in home prices at an unstable rate.

Under healthy conditions, homeowners continue to earn equity over time, sellers can make a profit on resale, and buyers can still afford to get into the market. But in a housing bubble, a sudden price decrease can result in many owners holding negative equity (a mortgage debt higher than the value of the property).


Homebuyers who purchased a home during a housing bubble likely paid more than the property is worth. Over time, the property will rebound back to its true value and return to positive growth. But those who purchased a home and are now forced to sell will come up short on resale.


For example, someone who purchased at peak market prices,…

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The home selling process can seem daunting. Sometimes it’s hard to know where to start! To help guide you through the process, here’s a simple 5 step guide for selling your home.


Find An Agent

The first step to selling your home is finding the right real estate agent. Start by searching online or asking friends and family for referrals. There is no commitment required on your part for the initial meeting with an agent. It will be educational and will help you identify the right agent for you.


Price Your Home

 

Establishing an asking price will be the next step to selling your home. To determine a price, look for comparable homes that have sold in your neighbourhood recently. Also look at what’s currently on the market and how…

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The Toronto real estate market continued to show exceptional year-over-year growth in April. According to TRREB, 13,663 homes were sold resulting in a whopping 362% increase from the 2,957 properties sold last year during the same time.

The average selling price in April showed a similar trend, with a 33% increase year-over-year to $1,090,992, while new listings grew 237%.

RELATED: How To Buy In A Sellers Market


Detached homes lead the way with 6,516 sales and an average price of $1,503,970, up 41.3% year-over-year.

Condo apartments accounted for 3,290 of the overall monthly total with an average price of $669,739, up 19.6% year-over-year.

These year-over-year increases are not surprising, since it was during this time last year…

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Gardening is a great way to get outdoors while creating something that brings beauty to your home. If you are considering starting your own garden, but have never gardened before, here are some tips to help you get started. 


Plan Around The Sun

Planning a spot for your garden is the first thing you’ll need to do. Since most plants require 3 to 6 hours of sun per day, make sure the spot you choose receives plenty of sunlight. Pay attention to how the sun moves throughout your yard on a typical day and plan accordingly.


Stay Close To A Source Of Water

 

When plotting your garden, make sure you have a hose nearby so you don’t have to lug around water every time. Nothing is worse than having to carry water back and forth during a…

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Moving can be unsettling for children. The change caused by a move may cause them anxiety, which will only add to the stress you feel to ensure a smooth transition. Here are a few ways to make it go a lot easier and minimize the anxiety for you both.


Talk To Them About The Move

The first this you’ll want to do is talk to your children about why you’re moving, where you’re going, and when you’re leaving. Let them know what to expect and what they can look forward to. Preparing your children before the move will have a major impact on how quickly they adapt to the new home.


RELATED: 5 Essential Tips For First-Time Homebuyers

 

Stick To Your Routine

Having a steady routine will give your children something to focus on in the midst…

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For the third straight month of 2021, record home sales continued across the Greater Toronto Area with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.

According to a new Toronto Regional Real Estate Board report, sales in the GTA reached a record 15,652 last month, up 97% from 7,945 during the same time last year.


One major reason for the dramatic increase in sales is the fact that this time last year the economic effects of the pandemic first took hold, making many buyers and sellers hesitant to enter the market.

The average home price in March also grew to $1.1 million, an increase of 16.5% compared to last year.

The consistent increase in home sales and price over the…

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The kitchen is often considered the heart of the home. But keeping it well maintained can be a challenge, as things tend to pile up very quickly. To help you make the most of this space, here are the top 5 tips to maximize your kitchen.


Consider All The Functions

Today’s kitchen isn’t just used to cook and eat meals. The space also serves many households as a place to study, work and entertain. Start by reflecting on how your family uses the kitchen and create a place to store items when they are not in use. From charging cords and ipads, to notebooks and pens, select an accessible spot for your things so they don’t clutter the kitchen.

 

Decide What You Actually Use

Give your whole space an objective assessment to determine what…

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Selling your home will likely be the largest financial transaction of your life. To help you improve your chances of cashing out big, here are 3 tips to help you get the maximum price for your home.


Understand The Market

 

Supply and demand is a basic rule of economics, and the housing market is no different. When there are more homes on the market than buyers, it usually brings the price down. Alternatively, if there are more buyers than homes, prices go up. The current Toronto market is considered a seller's market, since there are more buyers than homes. But that doesn't mean it won't change over time. Keeping an eye on the market and supply vs. demand will help you determine an appropriate price for your home.

RELATED: Top 5 Reasons…

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Spring is finally here! Along with it comes a chance to renew and revitalize our living spaces, which likely got a lot more use than normal over the last few months.

Here are some of the top spring décor ideas for 2021:


 

Eco Friendly Decor

Recent months have demonstrated how fragile our planet really is, so anything we can do to use eco-friendly and sustainable products in our homes has to be welcome. Some easy and affordable ideas include buying pre-owned or vintage items, creating some DIY wall art, and investing in timeless designs that will last for multiple years. The planet will thank you!


 

Invite Nature Into Your Home

Plants are essential for our living and very much welcome in the home, especially since most of us…

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