FROZEN MARKET READY TO THAW!
The Average Sales Price of All Transactions for January 2019 rose to $748,328 which is a year over year gain of 1.7%.
Note: Real Estate cannot and should not be lumped together. There are different categories of Properties such as Semi-Detached, Detached, Townhomes, Condo Apartments and, there are different Locations and Communities. Toronto is very different to GTA. And, different Neighbourhoods in Toronto have separate affordability and Sales Prices.
So what’s been happening in the Market? Due to the tighter restrictions for financing and higher interest rates, there is more demand for Townhomes, Semi-Detached Houses and Condominium Apartments rather than Single Detached Homes.
Weather has a lot to do with Real Estate and considering the Extreme Cold Weather we have been experiencing, the 2019 Real Estate Forecast is Warming Up!
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