Greater Toronto Area Report November 2019
Steve Moran, Remax
Home sales in Toronto jumped 14 per cent in November compared with last year, when prospective homebuyers were struggling with tougher mortgage rules and rising interest rates.
Across the Greater Toronto Area. the average sale price for all types of housing, including detached houses and condos, was $843,637 in November, a 7 per cent increase over the previous year.
Looking forward, home prices are expected to keep rising as the supply of new and active listings in the Toronto real estate market continues to dwindle. RE/MAX is predicting the Toronto housing market will favour sellers in 2020, with the average residential sale price increasing by 6 per cent next year. Thanks to the region's resilient economy, staggering population growth and relentless development, the 2020 market looks very optimistic.
If you are interested to purchase a home, I suggest that you begin to have a discussion with a lender and I'll be happy to facilitate an introduction to a lender or mortgage broker.
I am ready to help you with all of your real estate needs. Contact me today at 416-949-1684 or visit http://www.stevemoranhomes.com.
As we approach the New Year, I want to wish you and your loved ones a safe and joyous holiday season. Many thanks for your continued support throughout 2019.
Have a great day!