Summer Kick Off
We are excited to announce that we have just launched our website, stellarrealtygroup.ca. We have some great tools under our resource section, which can help you begin your home search. You can also stay up to date with our sales and listings, visit our blog, and check out all the services we provide.
As you may not know, we are more than your typical realtor. We also offer specialized investment services in the commercial/industrial sector, as well as property management services.
There is also some exciting news about our expansion under way. Looking forward to sending out that announcement in the near future!
Toronto Market Update
This Spring set an all time record for sale prices in the GTA. The average selling price across all home types was up by 28.4 per cent year-over-year, reaching a record $1,108,453. Although home prices went up we saw sale transactions falling short from the peak in 2016. We experienced a major buyer frenzy with people wanting more space to live, which in turn doubled the sales from May 2020. Now that we are seeing more people inoculated along with warmer weather and phase 2 reopening, the market is experiencing a shift. We are noticing less offers on listings and a slow down on new inventory coming to market. This is all very normal for this time of year.
Although sales are slowing down, buyers are still expected to experience competition as there is still a lack of supply. The new mortgage stress test came into effect on June 1st. We have not noticed this impacting the market yet as it is still too early to determine.
If you want to stay up to date on the monthly stats, follow us on Instagram @stellarrealtygroup. You can find the archived stats under our Market Highlights.
Canada Greener Homes Grant
The Federal Government recently announced that Canadians can apply for up to $5,000 in energy-efficient retrofits to their homes and up to $600 for EnerGuide evaluations and expert advice.
What you need to know before you apply:
Only one homeowner per home can register.
You must provide proof of ownership with your property tax bill number.
The grants can only be used towards your primary residence. Indigenous homeowners may register multiple properties, including properties that are not the owner's primary address.
You must complete a pre- and post-retrofit EnerGuide evaluation.
You must complete at least one retrofit that is both eligible and recommended by your energy advisor in their report.
All products purchased must be purchased in Canada.
New homes (6 months old or less) are not eligible for the grant.
Federal grants are not taxable and do not have to be declared as income.
For more information, visit Canada.ca.
Check out some of our Second Quarter sales!
Featured Local Business: The Rolling Scones
Covid has greatly impacted many small businesses, including career opportunities for high school and University students. Adam is a second year business student at Queens University. Given the lockdowns and closures that took place during the Covid-19 pandemic, Adam was unable to find employment in his field. He decided to create his own opportunity and founded The Rolling Scones, a local bakery delivering artisanal, homemade scones to households across Etobicoke. Adam's goal is to gain first hand business experience and more importantly, pay off his tuition. The Rolling Scones has since taken off and he has been busier than ever! If you're interested in supporting a small/local business and would like to learn more, contact him directly at rollingsconesetobicoke@gmail.com. You can also find them on instagram @rollingscones_etobicoke.
Enjoy your summer and stay safe!
Sincerely,
Ashleigh Thibideau