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January 26, 2016

Toronto Real Estate Update – January 2016

Victoria's Report on Real Estate

With the second best December on record for home sales in the GTA, 2015 ended on a strong note. December sales certainly contributed to the overall record year for TREB, reporting a total of 101,299 homes sales in 2015, an increase of 9.2 per cent over the previous year.

In TREB’s Market Year in Review & Outlook Report the organization released some general predictions for the coming year:

  • First-time home buyers between the ages of 18 and 24 will make up half of the buyers in 2016
  • Prices will continue to increase in 2016, with the average home price falling between $655,000 and $665,000
  • 2016 will either be another record-breaking year for real estate in the GTA, or the second-best year on record

Here are some notable sales from the month of December:

BayviewVillage_JanuarySale2016

Bayview Village   —   Sold: $1.63 M   |   Bed: 3   |   Bath: 3

DeerPark_JanuarySale2016

Deer Park   —    Sold: $1.55 M   |   Bed: 5   |   Bath: 4

ForestHill_JanuarySale2016

Forest Hill   —    Sold: $3.79 M   |    Bed: 4+1   |   Bath: 5

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