Toronto Real Estate Inventory Even Further Down, Prices and Sales Up

429_elm_road_MLS_HID900502_ROOMMainExterior1September 13, 2014- The Toronto Real Estate Board reports that the average selling price of residential homes in Toronto has increased 8.9% from this time last year and the number of sales is up 2.8%. Even lower inventory is part of the reason prices keep climbing. As well, I think many homeowners are staying in their homes and renovating as opposed to moving, so there is less on the market to buy. But borrowing rates remain crazy low and Toronto is more and more a place international investors want a piece of. Read all the statistics in this month’s Market Watch ReportAndrea Stark, Sales Representative, Royal LePage RES Ltd., J&D Division, Brokerage

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