Toronto Real Estate Market Update | December 2014

Toronto Real Estate Market Update | December 2014

By Ilan Joseph, Broker, ABR, e-PRO, AMP | © All rights reserved | 

Toronto Real Estate Market Update | December 2014

decToronto - 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

 dec 2014

 

If you have any questions about the home buying process or would like some information about the TorontoVaughan or Thornhill real estate market, feel free to contact me.

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  first time home buyer toronto ontariotoronto real estate vaughan real estate for sale   IMG_0080 bwIlan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto, Thornhill and Vaughan real estate team. You can find him on LinkedIn, Twitter, YouTube and Google+. For over 12 years, Ilan has provided more than 1550 buyers and sellers valued advice and service, enabling them to reach their real estate goals. He’s kind of like the Bruce Willis of real estate.