Toronto’s fall housing market started right after Labour Day. By early October, the weekly price averages were on a par with those from last May and June.
It looks like a record number of properties are changing hands this year… and yet we still see many areas where there is a “shortage of product.” This housing market is driven by growing demand from buyers.
How much are prices rising, and where?
In September, the number of detached homes sold was virtually unchanged from last year, and sale prices for those rose about 11%. The number of resale condos that sold was up over 5%, and prices for those still went up, more than 5% over last year. Prices for all types of housing rose just as sharply in the 905 areas, as they did in the City of Toronto.
Strategies for buyers
Buyers need to have a game plan. Unless you have an unlimited budget, you’ll need a strategy to get the best possible property that your financing will allow. You need a team on your side, including smart agents who can help you create and carry out your campaign!
That’s where we come in… If you’re ready to start your home-buying campaign, let’s have a conversation! You can email us, or ask for James and Joanne at 416-483-8000.