Toronto Sales Up from Last Month as Market Gains Momentum Again in November 2017

Monday Dec 11th, 2017

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Toronto Property Values are Up Again Year Over Year as the Toronto Market Starts Pushing Forward into Winter 2018

 

November 2017 - 7,374 sales changed hands - an increase in sales compared with October of this year but down from the same time last year. 

Average selling prices grew by 13.4% year over year. A much heftier growth than we've seen recently probably due to new incoming  mortgage rules on Jan 1 2018.

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 coming into play January 1st 2018 for buyers with 20% or more as a downpayment will definity play a role in affordability come the new year. 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 detailed report here...

http://www.trebhome.com/market_news/market_watch/

 

 

 

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