MUST READ!!! Most pressing issue in Real Estate today is the lack of inventory: “The Toronto Real Estate Board has seen a dramatic drop in the number of homes listed for sale, especially since the 2008 recession”. Currently there is a shockingly tight market for houses where, since the recession, demand has far outstripped supply! Listings that used to average about 16,000 even in the slow December period were down to 13,241 in 2012 and dropped a further 14 per cent just from 2012 to 2013, says TREB. The average transaction price for a detached house in the City of Toronto hit $894,654 in mid-January, up 21.1 per cent year-over year, according to TREB figures. Semis were up almost 14 per cent, to an average of $581,475. THIS IS DEFINITELY A SELLER’S MARKET!
Posted on: Fri, 24 Jan 2014 16:23:19 +0000
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