Top spring home maintenance tips for a swift sale

Clean sweep for spring GTA real estate market home sale

This spring is chilly, but the Toronto real estate market is hot according to recent stats.  “Homes are selling briskly throughout the Greater Toronto area and nearby communities.” says Cliff Iverson, president of the Canadian Real Estate Association (CREA).  Home sales rose by 5.2% in February 2017 to reach the highest level since April 2016!

That makes this spring the perfect time to get your home ready for a quick and lucrative sale.  Applying our top home maintenance tips will improve your home’s value, appeal and comfort whether you’re looking to sell or just want to enjoy your home at its best.

Check your HVAC systems

Winter is tough on a home’s heating, ventilation and air conditioning systems and the spring is a good time to make sure they’re in top condition.  Replacing the furnace filter and flushing out the water heater are a good place to start as they’ve been given a good workout over the harsh winter months.  This allows your systems to run more efficiently keeping energy bills lower and prolongs the life of the units.  Check your units manuals for replacement and service schedules and contact a licensed HVAC technician.  Air conditioning units should also be serviced in the spring to avoid your system conking out in the hot summer months due to a lack of maintenance.  These ounces of prevention are worth a pound of your systems reliability!

Improve curb appeal with outdoor maintenance

There is nothing like arriving at a fresh looking, beautiful home after a long workday or to start a weekend.  The early spring is a great time to tackle some outdoor home maintenance projects that will beautify your home for your enjoyment or to get ready for listing.

Make sure gutters and downspouts are clean and unclogged.  It’s important to direct rainwater away from the house and foundation to prevent leaking basements and water damage that can prove costly to homeowners.  Six hundred gallons of water falls on a 1,000 square foot rooftop for every one inch of rainfall!  Make sure soffit and fascia are clean and in good repair.

Clean and re-caulk around windows to prevent drafts and leaks and to improve the heating and cooling efficiency of your home.  Scrape away the old caulking before applying the new.  Remember to clean the siding, too!  Green algae can grow on the north side where there’s little sunlight.  Remove this with a garden hose, detergent, brush and some elbow grease. This freshens and improves the look of your home showing pride of ownership!

Doors, windows, shutters and their trim should be clean and may require a fresh coat of paint.  Clean and shine the knobs and glass, too.  Staining your deck not only protects the wood but also enhances the beauty of your home.

Nothing showcases spring better than budding flowers and a lush green lawn!  This may be as simple as raking the leaves and adding a planter or two of flowers or have a landscaping company come in and take care of it.

Create an interior space that is beautiful, safe and healthy

Safety first!  Test smoke detectors once per month and replace batteries in the spring and again in the fall during the daylight savings time change.  Replace or clean your dryer vent.  Known to be one of the leading causes of home fires, cleaning the dryer vent not only provides safety but improves efficiency of your dryer prolonging the life of your unit.

Check your plumbing!  Having dripping faucets fixed, caulking around the tub and checking all other plumbing in the home for leaks is a great way to prevent larger and more costly problems down the road.  This can be done on your own or contact a licensed plumber for an inspection and quote.

Check the basement floors and walls for signs of water or leaks and do a test run on the sump pump if you have one.

Check to see if the insulation in the attic is right for your climate.  Sections may need to be replaced if there is moisture build up which will allow for proper ventilation.

Clean your home from top to bottom!  Check out our handy Spring Home Cleaning Checklist for a home that sparkles like new.

Having a yard sale is a great way to de-clutter your home after a long winter to either prepare for a home sale or to simply free up some space.  And who doesn’t love to have some extra cash in their pocket?  Consider having a street sale or tie in to your real estate agents seasonal yard sales to boost your chance of success.

Choose a real estate agent who understands the market

Your home is now spotless.  You are ready to list.  Now to select a real estate professional who will help you price your home, market it well and strive to get your asking price or higher and close within a short time.  There are some key things to consider when choosing an agent:

  • Who stands out in your area?  Ask them for references and speak with their recent clients.
  • Check their credentials and find out their areas of expertise.
  • Look at their current listings.  How quickly did they close?  Were any sold over the asking price?
  • Ask about homes for sale nearby.
  • Ask the agent how they will market your home (Brochures, postcard delivery, website/social media, open houses)
  • Do they use a professional photographer/videographer?
  • Are staging services/consultation provided?
  • Find out if the agent provides the services and qualities that matter most to you!

With sales up and listings down in February 2017 (TREB), the hot real estate market makes this spring a perfect time to get your home ready to sell quickly and to expect good returns on your biggest investment.

Toronto Real Estate Record Home Sales September 2015

Here are the numbers for the Toronto Real Estate Market.

There were 8,200 home sales reported for September 2015. That is up 2.5% compared to September 2014.

For the first nine months of 2015 there were 80,331 home sales, which represented a record result and a 9.5% increase compared to the first nine months of 2014.

The average selling price in the GTA was $627,395, that’s up by 9.2%

What does this mean? Watch the video, skip to the 1 minute mark for the analysis.

20 Hoover Drive – Sold Over Asking

20 Hoover Drive, Thornhill Home For Sale

20 Hoover Drive

Sold Over Asking

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The Competition is Heating Up!

Paul Ehterington, the President of the Toronto Real Estate Board, announced that there were 6,338 home sales in the month of February in the GTA. This means that there was a staggering increase of sales this February, compared to February 2014 – an 11.3% increase!

The overall inventory of homes for sale in February was down 8.7% compared to February 2014. This decrease in inventory has created a very tough and competitive market for buyers. The average selling price in February 2015 was $596,163, which is a 7.8% increase from last year.

An important piece of information to point out is that within the City of Toronto, the average detached-home selling price was above $1 million.

According to Jason Mercer, the Toronto Real Estate Boards Director of Market Analysis, “February points to a robust demand for ownership housing in the GTA, coupled with a constrained supply of homes, especially with low-rise home types, such as singles, semi’s and townhouses are concerned.”

Toronto Real Estate Prices Dropped In January 2015

According to the Toronto Real Estate Boards President, Paul Etherington, Toronto’s Condominium Apartment sales for the months of October to December, 2014 had seen an increase of 8.3 per cent, compared to 2013. As  the supply of Condominium Apartment units listed for sale increased, so did the number of sales. According to Jason Mercer, the Toronto Real Estate Boards Director of Market Analysis “Despite very strong condominium apartment completions over the last two years, we have not experienced a glut in inventory.” Furthermore, the Toronto Real Estate Board announced that during the first 14 days of January, 2015 there were 1,409 sales reported through the TorontoMLS system, resulting in an increase of 9.8 per cent compared to the same time in 2014. 

Although there has been an increase in the number of homes sold in 2015, it is important to note that the average selling price for mid-month transactions in January has decreased compared to last year. Mercer states that “the slight dip in the average selling price reflects the fact that we saw a different mix of homes sold this year compared to last year during the first two weeks of January, as evidenced by a lower average listing price.” In 2015, the average sale price of a home in the GTA was $510,532.00, compared to the GTA’s average sale price of $516,620.00 in 2014, a drop of 1%. However, Mercer states that “the month-end MLS® HPI Composite Benchmark price and the average selling price will provide a clearer view on prices,” so it is yet to be seen what the outcome for the first quarter of 2015 will be. 


Mid-month resale market figures graph

Toronto Real Estate Market Watch April 2014

Toronto Real Estate Market – Big news for April 2014 just released!!!

Watch the video for my analysis.

Here are the raw numbers.

April Sales – 9,706 sales. +1.8% increase for year over year.  +20% increase for month over month.

April Average Sale Price – $577,898. +10% increase for year over year. 3.5% increase for month over month