ROYAL LEPAGE HOUSE PRICE SURVEY, A YEAR IN REVIEW 2015
TORONTO, January 13, 2016 Royal LePage, The Voice of Canadian Real Estate,
Record House Price and Sales Increases in The Toronto Market in 2015.
Combined with continued low interest rates, the country’s housing market is in a solid position to weather the impact of low commodity prices and a choppy domestic economy,” concluded Phil Soper, president and chief executive officer, Royal LePage Canada.
Home prices continued to show significant increases in the Greater Toronto Areaas the region experiences a prolonged inventory shortage, with the aggregate price of a home rising 8.6 per cent over the previous year to $605,898. The median price for a two-storey home rose 9.7 per cent year-over-year to $715,525, followed closely by bungalows which increased 7.8 per cent to $596,842. Condominiums also saw healthy price growth during the quarter, increasing 3.7 per cent to a median price of $361,809. Royal LePage forecasts that prices in central Toronto will continue to rise, predicting 5.5 per cent year-over-year growth across housing categories during 2016.
Royal LePage forecasts that prices in central Toronto will continue to rise, predicting 5.5 per cent year-over-year growth across housing categories during 2016.
The median price for a two-storey home rose 9.7 per cent year-over-year. Click To View Canada's Housing Statistics.
Just Sold this condominium to my client, an interior designer who will renovate and decorate this very unique property. Purchased for $435,000 this 1,925 sq. ft 3 level condo was passed up by many buyers. But Maria and I saw the future value once renovated. Watch the before video and then, stay tuned for the finished suite in a couple of months.
Toronto Home Sales & Prices 2015
Record Home Sales in Central Toronto in 2015.
January 6, 2016 -- The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that there were 4,945 sales reported in December bringing the 2015 calendar year total to 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year.
"If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand," continued Mr. McLean.
The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to $566,624 in 2014. The MLS® HPI Composite Benchmark Price was up by a similar annual rate of 10 per cent in December. GTA home price growth was driven by the low-rise segments of the market, but condominium apartment price growth was generally well-above the rate of inflation as well through 2015.
For Sale: Interior Designers Renovated Town Home in Richmond Hill $498,000
Just Sold: Interior Designer's Own Masterpiece For Sale - $498,000
This beautiful town home in Richmond Hill was completely gutted and luxuriously renovated from top to bottom using quality materials. The homeowner who is an interior design took special care and it shows in the results. This custom renovation is well thought out, maximizing the space on all three floors. Style and sophistication are prevalent as soon as you open the door. The stunning open concept kitchen will delight any chef in addition to the Sky Terrace for barbecues. A one of a kind show home to suit anyone who appreciates good workmanship and custom design.
Are you curious what a condominium suite or home has sold for in a particular neighbourhood in Toronto? In my video series, I will provide you with a few sold prices of homes and condominiums, so you can decide if this is the neighbourhood where you would like to live.
Corso Italia, St. Clair Ave. W & Dufferin, Toronto
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Buyer Inspection Of Property Video, No Wasting Your Time
As your buyer real estate agent, I inspect properties for you, But Now, I am excited to offer you my new "Pre- Inspect Property Video " which will save you even more valuable time. Once I consult with you in regards to your wish list for your new property purchase, I will visit potential properties and take a video of the home or condo, then quickly e-mail it to you for review. No more visiting properties that don't meet your expectations with ugly surprises. Please don't hesitate to contact me when ever you are ready to purchase your property.
How I Work For You To Achieve Your Real Estate Objectives
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