Recognizing two issues in the market, one of our top investors found a new way to make things work.
Toronto Home Price
Across the nation CREW lists data for 5162 neighbourhoods, and this month Toronto is number 169 putting it ahead of most neighbourhoods .
When our research team crunched the numbers we calculated that Toronto has a median home price of $699,000.
Toronto’s most common listing this month is 3 bedroom properties, less than province’s most common offering of 3 bedrooms.
Across Ontario Toronto has the 2nd most properties on offer with 1145.
As one of Ontario’s many potential real estate investment neighbourhoods, Toronto needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Toronto have dried up which would tend to indicate that demand is higher than the supply of new properties.
Last month, Toronto was Canada’s 79th priciest – this month at number 79 it’s gained 303 While month on month that number shouldn’t matter too much, as fluctuation is common, it’s worth checking back regularly to see whether the improvement continues.
While the median for Ontario is $335,000 , which means that Toronto’s median price is $399,588 considerably better than the rest of the province.
2 bedroom properties are the most common available for real estate investors this month in neighbourhood.
There are 196 neighbourhoods that have more properties on sale than Toronto at the moment in Ontario which puts the neighbourhood in the top 20% when looking at the number of properties to choose from.
Can we guarantee how well Toronto is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Toronto, the amount of stock on the market has decreased which is a positive indicator for house prices. Three months ago there were 6137, this month we show 3533.
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