Toronto Real Estate Market News: Mid-June
June 19, 2014
The Toronto Real Estate Board is predicting that at least until the end of 2014, we will be in a seller’s market.
The mid-month market news has just been released and it shows that sales both by volume and price are up from the same period last year. According to TREB, the average GTA house price as of mid-June was $582,100, up some 8.6 per cent from the average price of $535,865.
What does this mean for buyers and sellers? For sellers, now is a good time to be on the market – there are more buyers out there than there are homes available.
For buyers, especially those looking for a detached or semi-detached home, you need to be prepared for a bidding war and all that entails, including going in with your best offer.
Click here for the full press release