You can't make an informed decision without knowing Toronto Property Values. But the Toronto Real Estate Market is fickle. Toronto Home Prices seem to change daily. This article should help you make sense of the market and make better decisions whether you're buying or selling.
Every month I read the Toronto Real Estate Board reports and summarize the market activity for The Beaches, Leslieville, Riverdale and Danforth Village. Then I create an updated BLOG about it in the The Toronto Real Estate Statistics Category on this site. .
If you want to know exactly where average prices are in your micro-market each month, you can subscribe here.
I also post the entire TREB Market Watch report at the bottom of the article, if you care to read it. Just be aware that some of the terminology is a bit misleading and the statistics for the Greater Toronto Real Estate Market may not reflect what's really happening with East End Toronto Home Prices.
For a while now, I've been posting some of the most important Market 'Trend Indicators' on my statistics page. One good trend indicator is 'Sales as a percentage of the active listings at the end of the month'. (%S-A) A higher number means there's more demand relative to supply. Rising %S-A is often followed by rising prices.
Another indicator of market performance is the 'Average number of Days on Market' (DOM) it takes a listing to sell. Lower DOM usually means more demand and is often followed by higher prices.
The Toronto Real Estate Board (TREB) is one of the largest Real Estate Boards in North America. They store and analyze vast amounts of data covering an extensive geographic territory. That's great for analyzing regional trends but averaging out the numbers over such a large region can paint a distorted picture of what's happening in our local (micro) markets.
For the last while, I've broken out the statistics for The Beaches, Riverdale, Leslieville and Danforth Village. It's proven that there's substantially more demand for these neighbourhoods than elsewhere in the GTA. Average house prices are higher. Available listings and Days on Market are lower.
These numbers point to an increasing demand for East End Toronto Homes within a short commute of downtown. That bodes well for you if you already own a home in one of these 'demand' communities. At the same time, it means it's tougher getting into the market here if you're a first time buyer.
Whether you're thinking of selling next month or doing financial planning for the future, it pays to know what your home is worth. Getting your own Market Valuation is an important first step. Follow this link to find out everything you'll need to know about getting a FREE Market Valuation on your property.
And if you are planning on selling a property in the future I can give you strategic advice on how to create the greatest increase in value for the least amount of money.
To find out more about Toronto Home Prices, or to request a FREE Market Valuation on your home, fill out this short form. I can usually get back to you within 24 hours to arrange a no-charge appointment. One hour in your home is all I need to give you an accurate, up to date market valuation of your property.
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