Record Breaking Home Prices!
Many buyers have already accepted the fact that they will not be able to buy a home in Toronto. Despite many experts and people saying that the market will crash, prices in the city continue to rise. In September, $1,053,871 was the new average price for a detached home in Toronto as per the Toronto Real Estate Boards stats. The Financial Post reported that this was a 10.7% increase since September of 2014.
What is really shocking to most is that since breaking the $1 million mark in March, prices have risen on average over 50k in just 6 months! Michael Babad of The Globe and Mail Published an article on stating that prices will continue to rise this year and next. He accredits his prediction to their being fewer homes on the market in comparison to 2014 so simple laws of supply and demand would apply, less inventory = more expensive!
York Region don’t be bummed as you BEAT TORONTO! The average price for a detached home is now $792,973 which calculates a rise of 14.7% in comparison to last year.
Since detached homes are becoming out of the reach for many home buyers, condos and townhouses are comparably much more affordable so we can expect that market to start getting heated as well. As the saying goes, YOU SNOOZE YOU LOOSE!
*** If you are thinking of SELLING YOUR HOME next year make sure to start prepping it to sell. I can show you what you need to do in order to get top dollar & sometimes it goes beyond moving furniture around!
*** If you would like to RECEIVE NEW MLS LISTINGS even before they reach mls.ca click here! www.getmlslistings.ca
*** If you are interested in KNOWING WHAT A CERTAIN HOUSE SOLD FOR or any details about it call/text me & I will be happy to give you that information with no obligation :)
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call/text Mario Armani 647-448-4939