Greater Toronto Area Report December 2019
Steve Moran, Remax
Toronto's housing market rebounded in 2019 as buyer demand climbed while new home listings fell, pushing the average residential sale price close to a record high.
It was a remarkable year in 2019 as home sales in the Greater Toronto Area increased 12.6 per cent from 2018.
Led by gains in detached houses and condos, the average resale price in December rose 12 per cent year-over-year to $837,000.
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 this 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.
Have a great day!