How busy has it been for GTA real estate for the first half of December 2015?
Real estate agents in Toronto and the GTA, including Durham Region realtors, reported 2760 sales through the Toronto Real Estate Board’s MLS system during the first 14 days of December 2015. This was an increase of 11.9 per cent over the same period in 2014.
Toronto real estate agents also noted strong growth in new listings for houses for sale and condos for sale all across the Greater Toronto Area.
The average sale price for all types of real estate was $621,571 for the first 14 days of December which was a profitable 10.2 per cent increase compared to the same period one year ago. Even though real estate agents in Toronto and beyond witnessed a lot more listings, the competition between buyers remained strong enough to deliver the double-digit price increases.
Toronto real estate sellers celebrated the most growth in property values for single-detached and semi-detached houses in areas like Leslieville, Riverdale, East York, Topham Park, Scarborough, Greenwood-Coxwell and beyond.
For the first 14 days of December, the average price for real estate in Toronto was $652,237 versus $577,886 one year earlier. A terrific appreciation for homeowners in Toronto selling their house this year versus last. In the 905 regions in areas like Pickering, Ajax and Whitby, real estate prices also enjoyed a significant increase. Currently the average selling price in those areas such as Durham region is $600,402 versus $554,691 one year earlier.
Properties of all types enjoyed significant increases in value. In all of GTA real estate, realtors saw an 11.3 per cent increase in value for detached houses, a 13.8 per cent increase in value for semi-detached houses, a 9 per cent increase in value for townhouses and an 8.1 per cent increase in value for condos.
Written by Scott Hanton, Real Estate Broker for The Weir Team with data provided by the Toronto Real Estate Board