Holiday joy skipped Toronto real estate in December. According to the latest numbers from TREB, single-family detached homes dropped 4%.
Toronto real estate had its seasonal drop as usual in December, but this time it was almost twice the amount of the years prior.
Toronto condos sold for higher prices, and even faster than last year – despite concerns that the market may be driven by speculation.
Latest numbers from the Toronto Real Estate Board show continued strong demand for single family homes in the GTA.
Toronto real estate was impacted minimally by new mortgage rules, as the first full report since the changes showed continued strong demand.
Almost 1 in 3 listings for Toronto real estate were identified by the agents as never occupied, indicating the city has a lot of speculation.
Toronto condos logged another solid month of gains, with inventory disappearing more than 60% faster than October 2015.
Demand for Toronto real estate was especially high in the detached home segment, with October 2016 numbers dwarfing last year.
All of this bubble talk had little impact on buying, as Toronto real estate continued to see an increase in demand-side pressure.
Toronto real estate prices continued higher in September, as buyers demonstrated a significant preference for detached homes.