Posted in: Toronto Real Estate Market
Posted in: Toronto Real Estate Market
With the start of March break fingers crossed spring is around the corner. As you've probably heard in the media, Toronto's real estate market has been red hot. The Toronto Star captured the sentiment with it's recent headline, "Shortage of new listings fuelling desperation among Toronto home buyers." While overall sales were up in the Toronto market, they were primarily driven by condo sales where there is both a good supply of listings and buyers. In the freehold market a short supply of quality detached, semi's and townhouses kept prices increasing with the average price going up by 8.9% to $599,414. What's interesting to note is that for detached homes the average price increased by 15.7% to $955,314, while townhouses increased by over 20% to $545,043. Check out the infographic below for more details on what is happening in Toronot's real estate market.
October was another strong month for real estate sales in Toronto. Sales were up 19% and the average price of a home in the City increased by 9.3% to $593,807. We keep getting closer to an average price of $600,000, which is really leaving condos as the main housing option for many first time buyers. With the majority of downtown neighbhourhoods experiencing low levels of inventory (new listings dropped by 8.4%), and low interest rates, which the Bank of Canada has now indicated won't be going up anytime soon, prices remain strong.
Sales by price range broke down as follows:
Homes sales in this range between $200,000 to $600,000 accounted for 68% of all real estate transactions last month. The majority of these transactions were focused in the condo market as well as outside of the core in surrounding GTA communities. Alot of this activity can be attributed to first time buyers entering the market. In the higher price ranges the sales break down was:
Check out the info-graphic below for a quick snapshot of what happened in October and if you have any questions about the market or real estate trends, call, text, or email me :)
Categories: Alderwood, Toronto W06 Real Estate | Annex, Toronto C02 Real Estate | Banbury-Don Mills, Toronto C13 Real Estate | Basement Flooding, Flooding Prevention, Solutions for Water in Your Basement, Home Insurance | Bay Street Corridor, Toronto C01 Real Estate | Bedford Park-Nortown, Toronto C04 Real Estate | Birchcliffe-Cliffside, Toronto E06 Real Estate | Briar Hill-Belgravia, Toronto W04 Real Estate | Broadview North, Toronto E03 Real Estate | Brownridge, Vaughan Real Estate | Building Weath; Real Estate Investing; Home Equity; Mortgage Rates | Church-Yonge Corridor, Toronto C08 Real Estate | City Centre, Mississauga Real Estate | Credit Report, Free Credit Report | Credit Score, Getting a Mortgage, Credit | Crescent Town, Toronto E03 Real Estate | Danforth Village-East York, Toronto E03 Real Estate | Don Valley Village, Toronto C15 Real Estate | Dovercourt-Wallace Emerson-Junction, Toronto W02 Real Estate | East End-Danforth, Toronto E02 Real Estate | East York, Toronto E03 Real Estate | Edenbridge-Humber Valley, Toronto W08 Real Estate | Eglinton East, Toronto E08 Real Estate | google.com/+AndreAdvantagecomAndreAlvesRealEstateBrokerToronto | Hanging a picture | High Park North, Toronto W02 Real Estate | Home Buying, Affordability, Buying a Home, Toronto Real Estate, Buying Strategies | Home Buying, Home Selling, Real Estate Mistakes, RECO | Home Insurance, Basement Flooding, Preventing Flooding in Your Basement | How to guide | Interior Design; Design Ideas, | Interior design; Getting ready to sell | July 2013 Sales Results, Toronto Real Estate Market | Kensington-Chinatown, Toronto C01 Real Estate | Lakeview, Mississauga Real Estate | Leaside, Toronto C11 Real Estate | Little Portugal, Toronto C01 Real Estate | Malvern, Toronto E11 Real Estate | Market Update | Mimico, Toronto W06 Real Estate | Mortgage Rates, Financial Freedom, Property Investment, Mortgage | Moss Park, Toronto C08 Real Estate | Mount Pleasant East, Toronto C10 Real Estate | Mount Pleasant West, Toronto C10 Real Estate | New Year; 2014; being happy; setting goals | Niagara, Toronto C01 Real Estate | North Riverdale, Toronto E01 Real Estate | Oakwood-Vaughan, Toronto C03 Real Estate | Palmerston-Little Italy, Toronto C01 Real Estate | Rathwood, Mississauga Real Estate | Real estate agent, Fliping a home, renovating | Real Estate Contracts, Choosing an Agent, Real Estate, Toronto, Realtors, Due Diligence | Real Estate Investing | Real Estate Photos; Professional Standards; Realtors | Retirement; Investment Property; Real Estate; Downsizing | Rockcliffe-Smythe, Toronto W03 Real Estate | Runnymede-Bloor West Village, Toronto W02 Real Estate | Rural Otonabee-South Monaghan, Otonabee-South Monaghan Real Estate | Scarborough Village, Toronto E08 Real Estate | Selecting an Agent, Real Estate Industry, Professional Realtors | South Riverdale, Toronto E01 Real Estate | stagging | Stonegate-Queensway, Toronto W07 Real Estate | Stouffville, Whitchurch-Stouffville Real Estate | The Beaches, Toronto E02 Real Estate | The Broadview lofts, Loft, Condo, Leslieville, Riverside | Toronto C01 Real Estate | Toronto Condo Market, Market Update, Toronto Condominiums, Condos | Toronto Condo Sales | Toronto E01 Real Estate | Toronto Real | Toronto Real Estate | Toronto Real Estate Market | Toronto Real Estate Market, November 2013 Real Estate Sales Results | Toronto Real Estate, Toronto Market Minute | Unionville, Markham Real Estate | Victoria Village, Toronto C13 Real Estate | Waterfront Communities C1, Toronto C01 Real Estate | Waterfront Communities C8, Toronto C08 Real Estate | Weston-Pellam Park, Toronto W03 Real Estate | Willowridge-Martingrove-Richview, Toronto W09 Real Estate | Woodbine Corridor, Toronto E02 Real Estate | Woodbine-Lumsden, Toronto E03 Real Estate | Yonge-Eglinton, Toronto C03 Real Estate | Yonge-St. Clair, Toronto C02 Real Estate