August 2016 Toronto Real Estate Market figures are out. Click on your neighbourhood of interest for a detailed summary: Toronto | Downtown | East Toronto | West Toronto | Midtown | The Beach(es) | Durham (NEW!)
As always, I’m happy to answer any specific questions you may have about your neighbourhood. Call me anytime at 416-690-2181
The overall Toronto market saw an increase of just under 12 percent in average sales price year over year. The average price of a home in Toronto for the month of July was $677,241.
The downtown Toronto Condo market saw a significant price increase of 14 year-over-year, which average prices sitting at $572,363 for the month of August.
East Toronto prices were up almost 16 percent, the number of homes sold were up compared with the same period last year, yet supply (new listings) down by about 100.
Midtown average prices increased 3.74 percent year-over-year.
West Toronto saw a price increase of 7.37 percent year-over-year, while sales volumes increased and new listings went down.
The average sales price in the Beaches was down by 1.75 percent year-over-year.
Durham home prices were up a whopping 21.41 percent year-over-year. Durham continues to be one of the hottest markets in the GTA.