Property Values are up Slightly Year Over Year again as Toronto remains in Balanced Market Territory!
September 2017. 6,379 sales changed hands - a decrease compared with September of last year.
Listings were up by 9.4% representing an increase from last month.
Average selling prices grew by 2.6% year over year. A much healthier growth than we've seen recently leading to a more balanced Market!
Condos are now starting to increase in value by a higher percentage compared to houses. This will represent a harder time for first time home buyers and buyers priced out of houses.
Prices have risen over the last year in Toronto due to lack of inventory in the marketplace However new inventory has finally started to make its way into the market easing up the sharp price increases. Bidding wars are not nearly as common as they were at the beginning of the year. As fall continues the market will surely start to pick up steam in the months ahead. We are in a shoulder market and now is a great time to buy and now is a great time to get ready to sell in the fall.
Contact me for more details: gaelen@gaelenpatrick.com or direct at 416-801-9265
Check out the detailed report here...
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