Fall Market Update 🍂🍁🏡 Sales volume are up, with the Condo and Semi-Detached Homes appreciating the most
#TREB (The Toronto Real Estate Board) reported a higher number of sales in August 2019 compared to last year August 2018.
All housing types saw price increases, with condos appreciating the most at 6.1% on average, followed by semi-detached homes appreciating 3.5% over the past year. The detached homes are still lagging at only a 0.3% increase in prices since last August.
Do you know what this means?
This means if you are looking to move up into a detached home, now is great time to do it especially with interest rates as low as 2.39%. A lot of buyers are aware of this and taking advantage of the smaller price gap between upgrading from a condo/townhouse/semi into a detached home, because the number of detached home sales were up 8.8% in the "416" area and 24.5% in the "905" suburbs.
Want to Get More Specific about the Home Values in Your Neighbourhood? Contact Karen for a complimentary Market Analysis.
Karen Law
Toronto Real Estate Broker
Century 21
Direct: 647-836-2895
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