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Toronto Real Estate Tips and Advice

Year End Price and Sales Reviews

2015 Was a Banner year in Real Estate in Toronto and Vancouver.

In 2015, according to the Toronto Real Estate Board TREB), was the busiest year for sales in the it’s history. Sales were up over 9 percent from 2014 which was also a banner year

Prices and transactions we up. The naysayers were silenced and there is no crash on the horizon.

Have a look at the numbers below for December 2015 from TREB

 

Home Type 416 Sales % $ Change($) 905 Sales % $ Change ($)
Detached ⬆︎10.9% 11.8(1,039,638) ⬆︎8.5% 11.7(747,229)
Semi-Detached ⬆︎23.4% 20.8(743,738) ⬆︎12.7% 9.8(495,551)
Townhouse ⬆︎23.6% 12.7(535,283) ⬆︎16.6% 6.9 (451,971)
Condo ⬆︎12.5% 3.2(400,088) ⬆︎16.4% 8.2(325,036)

 

Here are the Average Sales Price for all of 2015 and the Percentage of Change – From TREB

 

Home Type 416 Sales Price % Change – 2015 905 Sales Price % Change – 2015
Detached 1,047,483 ⬆︎12.6 728.015 ⬆︎21.1
Semi-Detached 736,082 ⬆︎10.3 492,643 ⬆︎11
Townhouse 542,406 ⬆︎10 449.218 ⬆︎10.4
Condo 405,589 ⬆︎5 317,572 ⬆︎5

 

According to the President of  TREB, Mark McLean looking forward to 2016, he says, “Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term”. He goes on to say, “If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand,”

There is no time like the present.  Lots of good value in the market at the moment.  Avoid the multiple offer nightmare that will begin to re-appear shortly.  Call me to answer questions and help you get on the road to home ownership.

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