The September 2013 stats for the Greater Toronto Area showed sales of 7,411 homes and condos, representing an amazing 30% increase compared to the 5,687 sold in Sept 2012. This means that after 9 months 2013 has almost caught up with 2012 in total sales, just lagging behind by about one percent.
The average selling price of $533,797 was up by 6.5 versus a year ago. This indicates that despite recent changes to the mortgage financing regulations, purchasing a home is still affordable. All predictions are that the home stretch, which is essentially the next 10 weeks, will remain quite active.
The best buying opportunities are still in the condo sector, simply because there is more inventory. If you are selling a home in most areas of the Greater Toronto area (GTA) now is the time to get it ready for sale.
Let me help you decide whether or not you are ready to buy, sell or invest in real estate before the holidays. Join me for a no obligation chat over coffee.