Record Real Estate Sales Continue to Soar
Real estate transactions and real estate sale prices continued to shatter records all across the Greater Toronto Area including increasingly popular areas like Riverdale, Leslieville, Riverside, East York, Scarborough, Pickering, Ajax and Whitby.
As reported by the Toronto Real Estate Board, there were 8,200 real estae home sales reported in September 2014. This was a 2.5% increase compared with September 2014.
Toronto Real Estate Board President Mark McLean says: “We are on track for record home sales reported through TREB’s MLS® System this year. Barring a drastic shift in the economy over the next three months, total transactions reported by TREB Members in 2015 are expected to be at or near the 100,000 mark. This is a testament to the importance that GTA households put on home ownership as a long- term investment.”
In the City of Toronto, the average real estate sale price for a detached house was $1,053,871 (a 10.7% increase over last year). In the “905” suburban areas, the average sale price for a detached house was $819,853 (an 11.6% increase over last year).
Strong sale prices continue all across the GTA for semi-detached houses as well. In the city of Toronto the average real estate sales price was $740,373 (an increase of 7.3% over last year). The the “905” regions, real estate sales prices for semi-detached houses were an average of $497,775 (an increase of 11.1% over last year).
Interesting to note, as The Weir Team has been reporting to our buyers and sellers for a while, real estate values in the suburbs appear to be increasing at a quicker rate than some place in the City of Toronto. This is great news for Pickering real estate, Ajax real estate and Whitby real estate.
“Expect strong rates of price growth to continue through the remainder of 2015 and into 2016,” said Jason Mercer, TREB’s Director of Market Analysis.
Cameron Weir and Scott Hanton have all real estate statistics and data at our disposal and we are proud to be selected by more and more first time buyers as the best realtors for first time real estate buyers purchasing a house in Toronto, Leslieville, Riverside, Riverdale, East York, Scarborough, Pickering, Ajax and Whitby.
Contact us today to see how we can help guide you when buying a house in Toronto and all across the GTA.
Written by Scott Hanton, Broker with The Weir Team