The fall has been shaping up to be a very active market in Toronto Real Estate. Sales volumes have skyrocketed and prices have seen a moderate increase year-over-year. Supply levels dropped, meaning the market needs more homes to be available for sale. There are buyer’s out there…waiting for the right home. Average home prices were up 6.5 percent to just under $534,000. I’ve said it before, and I’ll say it again: Toronto is not showing any signs of a slowdown.
If you have any questions after reading this update, I’d be happy to elaborate on any of the data and insights in this report or provide you with neighborhood-specific figures. Just send me an email or give me a call at 416-690-2181 to discuss.
The graph below shows a running tally of month-by-month averages prices in 2012 and 2013:
The number of resale homes sold increased a whopping 30 percent over the same period last year. 7,411 homes were sold in September 2013, up from 5,687 from September 2012.
The chart below illustrates the actual figures for supply (active listings) and demand (sales):
|Supply vs. Demand|
|Sept 2012||Sept 2013|
The next chart outlines the average prices by housing types (detached, semi-detached, etc.). September 2013 and Year-to-Date (YTD) cumulative totals
|Overall Toronto Average Prices by Type|
Thanks for reading my market update. As always, if you have questions, looking to make a move or know someone that is, let me know – I’m happy to help!