Toronto Sales down from last January - New Listings Up - Better Market Access Ahead!

January 2018 - 4,019 sales changed hands a decrease in sales compared with last month and down from the same time last year.

Important to note that new inventory was up last month but still the second lowest for January since 2010.

Average selling prices were down by % 4.1year over year. This due mainly to detached houses losing some value from their peak last Spring. Condos are still gaining value year over year.

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.

The New Mortgage Lender stress Tests that came into play January 1st 2018 for buyers with 20% or more as a down payment will Definity play a role in affordability now that the new year is here.

Contact me to find out just what this might mean for you.

Contact me for more details:  gaelen@gaelenpatrick.com or direct at 416-801-9265

Check out the full detailed report here...

http://www.trebhome.com/market_news/release_market_updates/news2018/nr_market_watch_0118.htm