November Residential Homes Sales and Prices Still on the Rise
Wednesday Dec 10th, 2014Share
The continued climb in sales of Toronto residential homes continues to identiy the Toronto Real Estate market as a quality, long-term investment. Monthly housing market statistics for November 2014 show yet another increase in sales, with 6,519 residential transactions last month, an increase of 2.6% over October 2014. Sales to date for 2014 are up an incredible 6.6% over the same period in 2013, with 88,462 residential homes sold. Homeowners are getting the deals done and transactions completed despite a drop in active listings for November 2014 over this time last year. The demand for a Toronto residential home continues to be relatively high compared to supply. In this climate, with demand high and increased, often intense, competition for homes between buyers, TREB is forecasting the current price growth to continue through 2015.
The average selling price of a Toronto residential home in November 2014 was $577,936, an increase of 7.4% over November 2013. Despite the higher pricing levels, Canadians remain positive about home ownership due to the relative affordability of mortgage payments and the fact that real estate has proven time and again to be a solid investment. Canadians have shown they will continue to invest in residential homes and properties for sale in Toronto and the GTA despite the steady price growth and supply decrease we have been seeing. There is no other investment opportunity like real estate, since it offers financial gains not available in any other industry. From year over year appreciation, affordable mortgages and pride of ownership, Canadians continue to snap up the residential homes and properties for sale in Toronto.
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.