GTA Realtor Report: October 2014
This fall has been off to a great start;this being a much busier October than that in 2013. Sales were up 7.7% with 8,552 sales being reported across the GTA which shows a continued belief the GTA’s housing market is a good investment.
The average selling price for this October reached $587,505 in the GTA, Detached homes averaging $951,746 in Toronto and $672,929 in the 905 regions up 8.7% and 10.6% respectively over last October last year!
However even though we’ve seen strong sale growth this year, many would-be home buyers continue to have difficulties in finding a home due to the limited amount of listings in some parts of the GTA. My clients and I have continued to be in competition on many homes across Toronto and also getting a lot of interest and competition on my own listings, particularly those in the more affordable or popular areas in the GTA.
Toronto in particular is still a seller’s market with these conditions to remain until the end of 2014 and into 2015.