Place – Toronto, Mississauga

Paul Etherington, Toronto Real Estate Board President declared that there were 8,051 transactions accounted via the TorontoMLS system in Sept 2014. This output depicted a 10.9% boost compared to Sept 2013. On a year-to-date base through the 1st 3 quarters of the year, sales were increased by 6.9% yearly to 73,465.

“Regardless of a diligent lack of listings in some market divisions, we’ve experienced strong escalation in sales in the 1st 9 months of year 2014. This’s evidence that Greater Toronto Area (GTA) families remain positive about buying a home. The mainstream of home purchasers buys a home using a credit. The share of the standard family’s income devoted to their credit payment remains reasonable, which’s why purchasers' interest had remained positive, ," said Mr. Etherington.

The standard selling cost for Sept 2014 dealings was $573,676 – up by 7.7% contrasted to the same phase in the year of 2013. Typical year-after-year price escalation was noticeable in Toronto, both for low-rise home kinds like detached & semidetached houses & for condo apartments. The standard selling cost year-to-date was $563,813 – up 8.5% contrasted to the 1st 9 months of 2013.

“If the present tempo of sales escalation remains in position, we could be teasing with a novel record for housing sales accounted by TREB Members this current year. On the pricing front, the crowd of willing purchasers in the market attached with the short supply of listings will carry on to convert into extremely effective annum rates of price escalation in the 4th quarter,” said Jason Mercer, TREB's Director of Market Analysis.

Contact:

2691 Credit Valley Road Mississauga, ON L5M 7A1
Office contact - 905-828-3434 24Hrs
Direct contact - 416-566-6872
Email: [email protected]