Balanced Market in Toronto for Summer 2017

Property Values Inch up Slowly Year Over Year again as Toronto Heads to Balanced Market Territory!

August 2017 sales were down as in July with 6,357 sales changing hands - a decrease compared with August last year. 

Listings were down by 6.7% representing the lowest amount of August new listings since 2010.

Average selling prices grew by 3% year over year. A much healthier growth than we've seen recently leading to a more balanced Market!

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 begining of the year. As fall inches its way in 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...

http://communications3.torontomls.net/statistics/mwatch/2017/08/mw1708.pdf