Real estate in Toronto is a great investment. Property values remain strong, and demand shows no sign of faltering.
June 2019 saw a total of 5,907 active listings in Toronto, compared with 5,748 last June (up 2.77%). Slightly up, but we honestly thought this would be higher. June 2019 had a total of 3,201 sales, compare with 3,073 in June 2018 (up 4.17%). Again, upward trend. What is more interesting, however, is that the average price of sales has jumped 5.14% year-over-year, with an average price of $915,481 last month. Think about that for a moment. A 5.14% increase in value for homes. Now that is quite an investment!
So why is that? Simple economics – lots of demand, lower inventory. People whom have properties are holding on to them (and so they should… again, 5.14% increase in value). Thanks to Toronto’s incredible growth, there is incredible demand for Toronto real estate.
Is there a downside to all of this? Not really. Some may note the difficulty in getting into the market. Well, for some that may very well be the case. But there are always creative approaches, different neighbourhoods to consider, thinking about a large condo instead of a detached home. We have always advised to get into the market sooner rather than later. Don’t wait. While you wait, those values increase (5.14%!) greater than your savings do.
If you have been toying with the idea of investing in Toronto real estate, or getting your foot in the real estate door as a first time home buyer, don’t wait yourself out of the market. We have been living real estate for over three decades, and we can honestly say that Toronto real estate is strong and an excellent investment. Now is a great time to buy. Don’t wait to get into the market. Start now, start small, and stay patient. We can help. Call us today to discuss: 416-222-0025.
Interested in buying real estate in Toronto & the GTA, or perhaps investing in Toronto real estate? First time home buyer? Moving to Toronto? Are you part of a Toronto relocation with your employer? We can help you with all steps of the process, from finding a new home, temporary accommodations in the meantime, destination services, settling in services, move management, and so much more. So many steps of the move can be handled in advance, so when you arrive we can get you settled much faster. When moving to Toronto, we can help with all aspects of the relocation.
We’d love to hear from you, so call us today to book your complimentary private consultation.
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