January 9, 2015- The Toronto Real Estate Board reported 6.7% more home sales in 2014 than 2013, with an increase of 8.4% in the average selling price. In the 416 area, the average price of a detached property is now $934,039 and a semi now averages $615,794. Condo apartment values are up 5.4% as well! Read the full report and visit TOrealestate.ca– Andrea Stark, Sales Representative, Royal LePage/ J&D Division, Brokerage
September 11,2012-The average sale price is up- almost 6.5% from this time last year. Prices of single detached homes in Toronto have increased another 15%! The number of sales, however, in the Toronto core are down almost 12.5% from August 2011, mainly due to high pricetags combined with new borrowing rules by lenders, plus the double whammy of the Toronto Land Transfer Tax. The MLS Home Price Index shows that condominium prices have shown a modest increase of 2.3% in the last year. Read the full details in TREB’s August 2012 Market Watch Report, which was just released.
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.