If you're a prospective buyer in the Toronto area, Click here to search all homes on the MLS, or if you want to place your home on the market, don't hesitate to obtain a free home value estimate.
If you have any questions, or need any preliminary information about
the Toronto real estate market, feel free to contact us at (416) 438-2536
Recently, the Toronto market has been doing quite well. We've seen a steady growth in home prices over the last 18 months and prices jumped an average of $27,000 in September alone. Since this time last year, prices are up over $50,000 to an average of $573,676!
Our vibrant market saw over 8,000 sales last month, outperforming September of last year. It's as simple as supply and demand - the number of available homes is just below the demand for them. There are currently 19,000 active listings, and one in every 2.4 listings is selling in only a month. This means we are absorbing 42% of inventory monthly, which is putting upward pressure on home prices.
Looking short term, it appears our market will continue to grow. Low interest rates, high public confidence in the economy, and a new mayor are all great signs for the future of real estate in Toronto. If you would like to learn more about current market conditions, or have any questions about real estate in general, don't hesitate to give us a call. We would love to hear from you.
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