The Toronto real estate market is just CRAZY! Huge demand for real estate ownership has made April 2015, with 11,303 homes sold, the highest sales record for April sales, (up 17% over April 2014), in the history of the Toronto Real Estate Board.
The unprecedented demand saw the average sale price of a home sold in April to jump to $653,932, and the year to date average price to $609,903, up 7.6 % from the start of the year.
While these are averages for the whole of the Board’s trading area, here is a breakdown of the average sale price year to date of more local areas:
- City of Toronto: $ 653,129
- Richmond Hill: $ 854,774
- Vaughan: $ 764,487
- Markham: $ 777,332
- Newmarket: $ 588,669
- Pickering: $ 510,590
- Ajax: $ 479,332
- Mississauga: $ 544,530
Here is how the sales have taken place by price range so far this year:
- $0 – $199,999: 2.6 %
- $200,000 – $299,999: 11.2 %
- $300,000 – $499,999: 34.4 %
- $500,000 – $799,999: 32.9 %
- $800,000 – $999,999: 8.7 %
- $1,000,000 – $1,499,999: 6.7 %
- $1,500,000 +: 3.5 %
The conditions for continued price growth have not, nor appear to be changing, so this market will continue for some time. BUT…. more than ever, with prices increasing so rapidly, you need an agent who is experienced, and capable of looking after your best interests in order to help you with your real estate transaction.
Before you start your search, or know of a friend thinking of buying or selling, please give me a call. My advice is free. I want to make sure your interests are protected! So don’t hesitate to call me, there are no stupid questions!
Have a great May,