Market Update – January 2015

Market Update for January 2015! 2014 has officially come to an end and what a year it was. December closed out a year of strong sales and price gains. The GTA market stats are as follows, for December 2014 versus December 2013;

Sales – 9.6% increase
New Listings – 9.5% increase
Active Listings – 10.5% decrease
Average Price – 7.0% increase ($556,602)
Average Days On Market (DOM) – 3.0% decrease

Our focus is on homes and condos that sell in the downtown core. The numbers are very different from the GTA wide statistics. If you consider the areas from High Park to The Beach, South of Davenport, the average sale prices are as follows;

Detached Homes

Average Sale Price – $1,049,000
Sale-to-List Ratio – 102%
Days On Market – 17

Semi-Detached Homes

Average Sale Price – $794,000
Sale-to-List Ratio – 105%
Days On Market – 12

Attached/Row Houses

Average Sale Price – $739,000
Sale-to-List Ratio – 104%
Days On Market – 12

Condo Townhouses

Average Sale Price – $511,000
Sale-to-List Ratio – 100%
Days On Market – 19

Condos

Average Sale Price – $440,000
Sale-to-List Ratio – 99%
Days On Market – 29

Moving forward, we anticipated continued appreciation in the low-rise and high-rise sector. Given the general lack of inventory and the trend towards living closer to the downtown core, specific areas of the city present excellent opportunity for growth and return on investment.

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