Another Record Year for Toronto Real Estate

Andrea StarkJanuary 5, 2017- The average sale price of all homes in Toronto went up 20% in the last year- detached homes up 23.7% on average and condo apartments up 16.6%. In the City of Toronto, the average price of a detached home is now $1,286,600. In Central Toronto, $2,068,876! In the City of Toronto, the average condo sold for $466,692. In Central Toronto, $626,118. The feeling is that the market will remain strong, but there are new borrowing rules, borrowing rates are increasing, and there are big question marks coming from our neighbour to the south. Our city and country remain attractive to foreign buyers. Read TREB’s Market Watch Report and visit TOrealestate.ca for more info on Toronto real estate by Andrea Stark, Sales Representative, Johnston & Daniel, Division of Royal LePage R.E. Services Ltd., Brokerage 416-489-2121

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