Even The First Half Of December Real Estate Sales Shows Prices Up

Tuesday Dec 16th, 2014


During the first 14 days of December, residential homes sales totalled 2,496.  This is a 1.9 per cent increase compared to the first two weeks in December 2013. Over the same period, listings of residential homes for sale were down by 1.8 per cent year over year.

Paul Etherington, President of the Toronto Real Estate Board said, “Greater Toronto Area households remain upbeat about buying a home, as evidenced by the increase in sales compared to last year. However, many would-be home buyers continue to have problems getting a deal done due to the lack of listings for some home types. The lack of listings has definitely been a drag on residential home sales this year,” 

Mid month December showed an average residential home selling prices at $565,873, which determined an 8.6 percent increase year-over-year. Residential home price growth was driven by the City of Toronto's detached  home market.

Detached, semi-detached and townhouses are still driven by a 'Seller's Market' because inventory of residential homes for sale remains so low, especially it now being the holiday winter season.  "The condominium segment of the market is more balanced because strong project completions, but there has been enough Buyer interest to prompt condo price growth above the rate of inflation,” said Jason Mercer, TREB’s Director of Market Analysis.

Recognized in the top 1% of all Toronto Real Estate Board's sales and properties sold in 2012-2014, Nancy Biderman is a respected Toronto Real Estate Agent providing extraordinary Full Service. Nancy has over 15 years of trusted Real Estate expertise. Her integrity, dedication to her clients' financial goals and overwhelming success is consistently reward with repeat clientele and referrals to their friends, families and associates. Nancy has also been awarded the Harvey Kalles Real Estate Ltd., Director's Circle accolade from 2000-2014.

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