Market Watch January 2014
TORONTO, February 5, 2014 – Home ownership in the Greater Toronto Area remains
affordable and there are many people looking to purchase a home. In January, the
number of homes listed for sale was down quite strongly compared to last year, which
means that it was difficult for some buyers to find a home.
Greater Toronto Area REALTORS® reported 4,135 sales through the TorontoMLS system
in January 2014. This result was down by 2.2 per cent in comparison to January 2013.
New listings entered into the system were down over the same period by 16.6 per cent
to 8,822.
“Looking forward, it is possible that strong price growth, and therefore an increase in
home equity, will act as a trigger for more households to list their homes for sale. This
is especially the case for households whose life styles are changing, including those with
an expanding family looking for a larger home or empty nesters looking to downsize,”
said Dianne Usher, President, Toronto Real Estate Board.
The average selling price for January 2014 sales was $526,528 – up by more than nine
per cent compared to $482,080 in January 2013.
“The pace of price growth will remain strong in 2014. Similar to last year, competition
between buyers for singles, semis and town homes in the City of Toronto and
surrounding regions will continue to exert upward pressure on selling prices. At the
same time, mortgage rates will remain near historic lows, so despite strong price
growth, home ownership will remain affordable for the average household in the GTA,”
said Jason Mercer, TREB’s Senior Manager of Market Analysis.
About Me
- Jackie Goodlet, Broker
- GTA, Ontario, Canada
- A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!
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