Market Watch October 2014

The Greater Toronto Realtors have just released their latest sales report. Last month, there were 8,552 sales transactions made through the TorontoMLS system, which is up 7.7 per cent as compared to 7,941 in October 2013. The average price is up from $539,286 to $587,505, representing an 8.9 per cent year-over-year increase.  New listings were also up, from 13,038 last year to 13,476 last month, which is a 3.4 per cent increase. These upward trends were seen across all major home types last month and were mostly driven by low-rise home types (singles, semis and towns).

Speaking of these numbers, Toronto Real Estate Board President Paul Ethington said that “this suggests that there are a lot of households across the Greater Toronto Area who remain upbeat about the benefits of home ownership over the long term, whether we’re talking about first-time buyers or existing home owners looking to change their housing situation.”

If you are looking to buy, lease or sell your home, now is the time to speak to an experienced and knowledgeable Century 21 King’s Quay realtor today!

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