Toronto's Fall Market Housing Update! 🏡🍁
Sunday Oct 10th, 2021Share
It's great news for homeowners this Thanksgiving Long Weekend!
Most housing sectors throughout the Greater Toronto Area (GTA), are seeing incredible double-digit percentage price increases 🏡🔥
The average property price has gone up by +18.3% from $960,613 to $1,136,280 over the past year.
The housing sector that saw the highest increase in value, on average, continues to be detached homes in the 905 suburbs with a huge +31.4% increase in prices over the past year.
With schools, businesses, travel, and immigration resuming a bit of normalcy, our Downtown Toronto condo market is rebounding smoothly, with average price increases between +4.77% to +6.28%, over the past year
Tips for Selling
*even though low-rise housing sectors are experiencing a hot seller's market 🔥🔥🔥, maximize the amount of exposure for your home by working with a real estate team that executes a strategic pre-marketing campaign. This will maximize the number of potential offers, which impacts your sold price!
Tips for Buying
*there are still opportunities for purchasers, especially those who are looking to expand their real estate portfolio with a downtown condo. As industry experts predicted, downtown condo prices are rebounding back to their positive annual price increases. Get into the market to lock in a lower price before prices continue to increase!
*for low-rise housing purchasers (especially homes in the suburbs), it is best to ensure your finances are in good standing order (including a firm mortgage preapproval) before heading out to see properties in this fast-paced seller's market. Also, work with a team that has access to off-market exclusive listings including VIP broker pre-construction pricing!