Strong TO market in spite of reports

You may have read or heard reports about declining house sales and prices in 2013, anywhere from 3 and 25 percent! There’s no need to be alarmed—in highly desirable neighbourhoods like Toronto’s west end, this is simply not the case.

TO is a sellers market

The main reason: we continue to have a seller’s market because of a shortage of listed homes for sale. The reasons for the shortage aren’t going away.

  • There are few, if any new listings on which you can build new houses in the west end, so the supply isn’t going to get a big boost anytime soon
  • Too many older homebuyers simply aren’t ready to sell their homes because:
    – they don’t see a better option than where they are
    – most condos are too small for them and their stuff;
    – they aren’t willing to pay the monthly fees and property taxes when they can hire in services that keep them in their own home

The real facts about 2013 housing in TO

Be careful of the numbers you hear in the media. According to the Toronto Real Estate Board (TREB), house sales in Toronto actually went up compared to a year ago, as did prices.

For the real facts, check out the January 16th, 2013 news release from the Toronto Real Estate Board (TREB),which reported a 2.4% increase in the number of sales through the Toronto MLS system during the first two weeks of January compared to the same period in 2012.

The same report noted that the average selling price during the first 14 days of the year was by up by four per cent on a year-over-year basis.

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  • One response to "Strong TO market in spite of reports"

  • Comment posted on 10th April 2013 at 7:31 Clay

    Anywhere in the city, you can find a nice park, a green area where kids can play, that is one of the greatest things of living in Toronto. I have to say I have been living in multiple areas of the city and everywhere you can see a nice playground or park. The issue is in winter time and for that visit MacDonalds Playground becomes very common as well visiting community centre with playgrounds.

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