Monthly Archives: October 2013

GTA Market Update – October 3, 2013

Toronto Home Prices 20131003

September surge

Toronto home prices rose last month as buyers descended on the new listings.  September’s average selling price was $533,797 – up by 6.5 per cent year-over-year.

Prices increased throughout Toronto, as well as in York, Peel and Durham. Detached house prices went up strongly. While the number of condo apartments sold was higher than last year, average apartment prices were softer in some areas.

Fall market continues

The main fall selling season typically stretches into early December. Sales volumes are usually steady through October and November, tailing off during December and increasing again during January.

Bidding wars

About half of the September house sales in central Toronto areas went over asking. In most other areas, the proportion of bidding wars was lower. In general, listings that were perceived to be attractive got more attention from buyers and more showings from agents.

Whether you’re thinking of selling your home this fall, next spring, or at some future time, you should select an agent who knows how to present your home correctly. As our past clients know, doing it right adds real value to your outcome.

If you’re thinking of selling your home, let us help. You can email us, or call James and Joanne at 416-483-8000.