Toronto, Durham, Pickering, Ajax, Whitby, Leslieville, East York, Riverdale, Scarborough Real Estate Stats – July 2015
As witnessed by The Weir Team throughout July 2015, it was a very busy start to the summer. The Toronto Real Estate Board confirmed that there were 9880 sales through the MLS system, which was an 8 percent increase from July 2014. It remained a good time to sell a house or sell a condo in Toronto, Pickering, Ajax and all throughout the GTA. The number of real estate transactions were up for all major home types, including including a surprising double digit year over year increase in sales of condos.
The President of the Toronto Real Estate Board was quoted as saying: “As we move towards a new record for home sales this year, it is important to point out that home ownership demand has been driven not only by low borrowing costs, but also by the fact that the GTA economy has been performing quite well, with the unemployment rate lower compared to last year. Home buyers remain confident in the long-term benefits of owning a home.”
Detached homes continue to be the rock star of real estate in Toronto, Leslieville, Riverdale, Riverside, East York, Scarborough, Pickering, Ajax and Whitby.
A continued lack of inventory is also helping to fuel the demand and bidding wars for not only detached homes, but freehold houses of all types.
The Weir Team has very interesting July 2015 real estate statistics for all sellers and buyers to see. For example, the average sale price of a detached house in the 416 area code was $996,770 versus $729,261 in the 905 area code. Notably though, the values in the 905 area code increased by 14.2% since last July, versus 13.3% in the 416 area code.
How do semi-detached houses compare with detached homes or condos? We’ve got the answers.
For complete statistics of house and condo sales on your street or in your building, contact Cameron Weir and Scott Hanton of The Weir Team today.