Royal LePage Corporate Brokerage Update
Royal LePage Real Estate Services Ltd, Brokerage has released their Market Update! According to TREB, the Toronto Real Estate Board, Real Estate is UP throughout the GTA. Compared to 2018 with 3987 home sales, the number of units increased to 4009 sales in 2019.The average price also increased to $748,438 compared to 2018, where it was $735,874. This sits roughly at a 1.7% increase.
The number of days also increased over 2018 to 33 days on the market, that’s a 3.1% increase. This means, compared to the quick sales in 2017, Sellers need to remain patient, yet optimistic about the market and must listen to the professional advise of their Realtor.
The average price for a detach home in the 416 area code for January was $1,174,134 with 342 sales and 1,361 sales in the 905 area code with an average price of $883,027.
The largest increase in sales were condos, with 840 sales in the 416 category, having an average price of $591,444 and 398 sales in the 905 category, with an average price of 456,857.
Semi-detached homes had 91 sales in the 416 area code with an average price of $933,465 with 248 sales in the 905 category, with an average price of $650,737.
Townhomes had only 141 sales in the 416 area code with an average price of $591,444 and the 905 area code had 398 sales with an average price of $456,857.
This is all positive news for Buyers and Sellers. With consistently low interest rates, it is still a great time to buy NOW. Compared to the late 80s and early 90s when rates of interest were between 12% and 15%, it is a great time to jump into the market in 2019. It is always said, the best time to buy Real Estate is yesterday. So, make today, your yesterday!