The Toronto Real Estate Board’s December and Annual stats have been released. While the market was off to a slow start in 2018, it’s important to note that market conditions improved in the second half of the year. Average sale price has increased by 2.1% from this time last year, with total sales down by 22.5%.
On an annual basis, a total of 77,426 residential transactions were reported in 2018, this represents a 16.1% decline compared to 92,263 sales reported in 2017, while total new listings were down by 12.7% over the same period, to 155,823. This decline in inventory has resulted in the resumption of home price growth. Thinking of selling your home in 2019? Contact us for an up-to-date market analysis at (905) 953-6926.
