TORONTO’S REAL ESTATE MARKET REPORT: DECEMBER

By | January 9, 2018

2017 was a volatile year for Toronto real estate but nonetheless, Q4 finished out strong with condo prices up 14.4% year-over-year.

Throughout the past year, we’ve seen a number of changes in Toronto’s real estate market. Most significant was arguably the changes in consumer sentiments that were brought about by The Fair Housing Plan. Couple that with the higher lending rates and the recent changes in Canada’s lending rules, it’s no wonder we’ve had a bit of a volatile year. 

2017 however, still finished strong. As we’ve reported over the last few months, sales began to pickup in Q4 after a short period of slowdown that followed the announcement of The Fair Housing Plan. In December there were a reported 92,394 sales, of course this is still down from 2016’s record year by 18.3%. On a year-over-year basis however, the average sale price is up 0.7%, while the condo market segment is still holding strong, up 14.4% and is expected to maintain a healthy rate of growth through 2018.

By |January 9th, 2018|Financial, Investing, Toronto Central, Toronto Condos, Toronto East End, Toronto Houses, Toronto Market, Toronto West End|Comments Off on TORONTO’S REAL ESTATE MARKET REPORT: DECEMBER