MARKET UPDATE MARCH 2015 February, 2015, will go down in history as the month in which the average price of a detached home in the City of Toronto (416 area code) surpassed $1,000,000. The average price of a detached home in the suburbs (905 area code) reached $694,285. Despite concerns of some people, economic indicators remain strong: Real GDP Growth for Q4 2014 was 2.4% The Toronto Employment Growth for January 2015 was 1% The Toronto Unemployment Rate for January 2015 was 1% The Bank of Canada overnight rate in February 2015 was 0.75% The Prime Rate ...
Market Update March 2015
March 30, 2015
August 23, 2009
In my April update, we were sensing that a very hot spring and summer real estate market was upon us, however, I certainly did not expect it to be as strong as it was. We had both record sales and record prices as outlined on the back of this letter. Toronto is one of a few cities, globally, where prices have risen during the past 12 months. Many buyers and sellers have been asking me: �Why is the real estate market in T.O. so busy considering the global economic issues at hand?� This is a tough question to answer and ...