Suzana Davies Sales Representative ®
RE/MAX Realtron Realty Inc., Brokerage*, Brokerage Independently owned and operated
Mobile: 416-843-7017

REAL ESTATE MARKET UPDATE NOVEMBER 2015 - TORONTO - GTA

 

Dear Friends, 

Despite the elections, the real estate market kept its torrid pace as Toronto Real Estate Realtors reported the sale of  8,804 homes through the Toronto Real Estate Board system, the most October sales in the history of the Board!

The average price of a home has increased as well: 
City of Toronto $661,831 
York Region $775,456 
Durham Region $440,627 
Peel Region $526,301

Call me if you want to know a breakdown of your particular area, I have the information. 
The demand for homes remains high (and will go higher as immigration continues) and a shortage of homes for sale will ensure strong price growth into 2016, well above the rate of inflation. 
There are several factors in play that make this is a great time to invest in real estate.


1. A real shortage of rental properties. Basement apartments in Newmarket and Aurora are renting for well over $1,000 per month. For a basement apartment!?

 
2. Immigration continues and the influx of refugees as promised by the Liberal government will increase demand which will increase rental rates and purchase prices.


3. The Wynne government is seriously considering allowing municipalities throughout Ontario to institute a second land transfer tax on top of the existing provincial tax. This will just increase the costs of purchasing a property if that occurs.


All in all, NOW is the time to invest in real estate.
If you have some questions, or are considering investing outside of the City, give me a call and let me put my expertise to work for you. 
Have a great November and remember, “I am never too busy for your referrals!” 

Your Friend in Real Estate, 

Sue Davies 

Remax Sales Representative 

416-843-7017  suzdavies@trebnet.com 

Suzana Davies Sales Representative ®
RE/MAX Realtron Realty Inc., Brokerage*, Brokerage Independently owned and operated
Mobile: 416-843-7017

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 10/21/2017 3:04:21 PM