August Toronto Real Estate Market figures are out. Click on your neighbourhood of interest for a detailed summary: Downtown | East Toronto | West Toronto | Midtown | The Beach(es)
The downtown Toronto Condo market remained virtually steady in all categories year-over-year. Only a slight decrease in average price of 1.7 percent.
East Toronto continues to increase. Prices were up 7 percent, while listings were down by about one hundred compared with August 2013. It is definitely still a seller’s market as inventory challenges continue to frustrate potential buyers.
Midtown average prices are still continuing to increase above the million mark, up 14.1 percent year-over-year. Supply was down in August 2014, compared with August 2013. Midtown saw a move towards a balanced market last month, but August shifted momentum back into a Seller’s market.
West Toronto saw a substantial increase in average prices of 11.4 percent. However, the number of sales and new listings remained much the same year-over-year.
The “Red-Hot” Beaches finally showed some signs of steadying, with prices up just 3.1 percent year-over-year. This is in part due to the seasonally low number of new listings that come out in August.