REAL ESTATE MARKET WATCH - GREATER TORONTO FIGURES 2015
2015 has been a record year for its 101,299 sales in the Greater Toronto Area. It is the first time in our history that the sales number surpasses the 100,000 units mark. Strong annual sales increases were experienced for all major home types during the year. Consumer confidence where home ownership is viewed as a quality long term investment, coupled with a relatively strong regional economy and low borrowing costs are the key fundamentals for these outstanding figures.
December sales were the second highest recorded and show an increase of 527 sold units in comparison to 2014. The average selling price for 2015 increased by 9.8 per cent from $566,624 to $622,217. The demand is expected to stay very strong for 2016 as buyers remain upbeat on the purchase of ownership housing.
Detailed reports of specific neighbourhoods are available on demand. Please contact Alex Pino, Broker if you would like to receive yours.