Toronto Housing Market Hits it out of the park….again!

So the first month of 2017, when we went into the New Year with less inventory than we had sales in December, the Toronto housing market still delivered on its promise to defy all odds and the numbers are staggering!

So…from 10,000 feet up…here are the stats:

*Sales UP by 12% compared to last January with only 50% OF THE INVENTORY….

*Average sales prices UP by 22% in the GTA …now an average (VERY AVERAGE) home in the GTA will set you back by $775,745.00 AND that very average home sold this year 35% FASTER than last January!

*Detached home sales rose by 8%; however, the price of those homes soared by 26%

*Semis sales rose by a mere 6% (no supply) but they now cost 28% more than last year.

*Town house sales are UP by 7% and average prices have risen by 15%

*And CONDO sales are BRISK TOO! UP by 27% and they too are pricier than last year by 15%.

For more detailed stats right down to your street, contact me and I’ll fill you in at the “micro” /local level.

So now, the trick is to decide do you LIST now? or wait?  Let me help you come to a conclusion that’s right for you!  Clearly, one size does NOT fit all, especially in the Toronto housing market!

Sell and Rent?  Sell and downsize?  Sell and upsize?  Sell and move WITHIN the city?  Sell and move OUTSIDE the city? Or stay put and wait it out…. I have happy clients whom I’ve helped with all of these options.  There is a good option for you, you just need to analyze your circumstances with a Realtor who listens, understands and cares more about the right option for you than they do about their income!

If you (or someone you know), are looking for a Realtor who cares MORE about focusing on you, your concerns, goals and the successful purchase or sale of YOUR unique home, than they care about their volume of transactions and awards, please let me know the best way for me to connect.  I would love to offer my highly personal service. Contrary to that old expression, not only IS this business, but it IS personal! And, please, I encourage you to ask me any questions you may have about this post. I value your input and appreciate the time you took to read it.

 

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