Record setting home sales for Toronto in 2015
The total number of sales through TREB (Toronto Real Estate Board) in 2015 was 101,299, a 9.2% increase over 2014 and December was the second best sales result for the month on record.
The average price of a home in the GTA was $622,217 for the year as a whole, an increase of 9.8% over 2014. Low interest rates and not enough listings to satisfy demand were the cause of the growth and although mortgage lending guidelines have tightened and borrowing costs may increase slightly, we are starting the year with continuing pent up demand. This means we need listings!
TREB is expected to release a detailed outlook for 2016 later this month.
Whether you are contemplating a move or would just like a sense of what your home may be worth in today's market, call us at 416-486-5588 for a free evaluation or email email@example.com.
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