Would You Dare Go From 416 to 905? Seems More Torontonians Are Doing Just That!

July 5th, 2012- Toronto home sales are up 11% and the average sale price is up 6.5% from this time last year, but the strongest growth is in the 905 area, (likely due to affordability and less Land Transfer Tax costs). Inventory has improved, so there are less “bidding wars” but many greedy sellers refuse to face reality and actually raise the asking price of their home after receiving what they initially asked. (Go figure) Also of note: price growth is in the low rise market. The high rise market ain’t doing as well. (Falling glass=falling from grace?) Anyway, read all the details in the Toronto Real Estate Board’s June 2012 Market Watch Report, released today.

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