Real Estate Prices in Toronto
Residential real estate/house prices rising in 2016?
According to the Toronto Real Estate Board, homes in Toronto may hit record prices this year: “The average selling price is also expected to rise to between $655,000 and $665,000 – one of the highest in Canada – up from $622,217, which was up 9.8 per cent from 2014.”
A report released last week by one of Canada’s real estate brokerages provided a detailed analysis. (News sources had a field day with this all information!)
For Toronto, the average selling price includes all the different districts that make up the GTA – false hope for anyone looking to buy in a prime Toronto neigbourhood – which is likely in the 1 Million ($1M) and up range. For HomeOwners looking to sell your home, this could be your best year yet!
Going into my 18th year in real estate, nothing really surprises me…I won’t speculate, but expect this to be an interesting year to watch! I’ll keep you posted!
Christine Ng, B.Sc., M.Ed., Broker, Royal LePage Signature Realty