October Housing Strong in Toronto

Resale housing outpaces October results from a year ago according to the Toronto Real Estate Board statistics. There was a substantial increase in sales over the same period last year. Areas such as Riverdale (E01), Willowdale (C07), Streetsville (W19) and Innisfil (N23) were up. In Willowdale alone these sales were up 83%. The average price for real estate rose to $399,013 from $364,364 recorded September of last year. This shows consumer confidence and a strong housing market. People feel home ownership is still a great best long term investment.

As a real estate team in Central Toronto we also see a strong real estate market. There are multiple offers on condominiums in North York that was unheard of the past and the downtown condo sector is very strong. Land prices continue to rise. People are moving away from the rental market to try to own their own home.