Wondering where real estate market goes?
Real Estate Market at glance
TORONTO, November 6, 2013
· Number of transactions is up. Greater Toronto Area REALTORS reported 8,000 home sales through the TorontoMLS system in October 2013 – up from 6,713 transactions reported in October 2012. Over the same period, new listings on the TorontoMLS system were down.
· Average selling price is up. The average selling price for TorontoMLS sales in October 2013 was $539,058– up by more than seven per cent in comparison to the average price of $502,127 in October 2012.
· Number of new listing is down. The supply of listings for many home types and price points has either been down year-over-year or at least not up by the same annual rate as sales.
What to expect in 2014?
· Growth in the average selling price
· Low inventory level
· Strong demand and affordability