Toronto Real Estate Market Update | December 2014
Toronto - 2014 was almost a record breaking year for sales in Toronto and the GTA. The average price increased 8.4% year over year to $556,500.
Although new listings were up by 9.5% over last years numbers, sales also jumped by 9.6% which quickly eroded the available supply in the housing market.
As has been thrend, multiple offers are still seen in all sectors of the Toronto real estate market, including detached singles, semis, townhomes and even some condos.
Demand will remain strong in 2015 as supply remains an issue and lowered interest rates will add some new buyers to the mix.
Downsizers, this is the perfect market for you!
See the full report here: TREB Market Watch | December 2014