Toronto Real Estate Most Shocking Stats

Wednesday Jan 17th, 2018

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Hi, I'm Rosalin Smith-Carr here with Johnson and Daniel Real Estate. As you know, a lot of stats have been thrown around about the housing market in Toronto last year.
 
The media scrambled to try to make sense of the roller-coaster ride we all experienced in the GTA in real estate. In the first quarter of the year we saw record prices, record sales multiple bids, and that was followed by a dramatic cooling over the summer months because of the implementation, or after certainly the implementation of the fair housing plan (Mortgage Stress Test) by the province.
 
Here is a quick look at some of the most noteworthy stats that certainly shook our market last year. In January the average price of home in the GTA (Greater Toronto Area) reached a high of a million three and change.
 
In February the listings were down 50%. “The largest housing markets are now approaching a potentially dangerous tipping point”, according to Capital Economics David Madani.
 
In March sales jumped 15.2%, while the average price of the home shot up 33.2% to nine hundred and sixteen thousand and change.
 
As the buying friendly reached a peak in March, the GTA home buyers bought in excess of eleven billion dollars’ worth of homes.
 
That same month an average GTA home stayed on the market only ten days. Then after a summer that saw the market cool dramatically in August, eight GTA municipalities saw detached home prices collapsed by 20% from in April when the fair housing plan was announced.
 
That was a real roller coaster for sure.
You know, real estate is always changing and I'm so looking forward to keeping you up-to-date throughout the coming year.
 
So, stay tuned.
Thanks for watching this video.

 

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