The Beaches, Leslieville, Riverdale and East York Real Estate Specialists – Your East End Toronto Real Estate Team | The Wright Sisters Team

February Fast Facts

08 February 2017
LINDSAY WRIGHT

HAVE NO FEAR, FEBRUARY FAST FACTS ARE HERE!

  • The Toronto Real Estate Board predicts 110,000 homes will be sold in 2017, with the average price soaring to $825,000.
  • The average selling price of a home in the Toronto area was $770,745 in January on the Toronto Real Estate Board index — $140,552 more than a year ago.
  • Home prices were up 22% in January compared to last year.
  • The average price of a new detached house in Toronto is now $1.24 million
  • The Toronto Real Estate Board says 4.9% of 2016 real estate transactions involved foreign buyers
  • RBC's third quarter affordability index shows that 63.7 per cent of the typical household income in the Greater Toronto Area is being funneled into the cost of owning a home, which includes mortgage payments, the principal and interest, property taxes and utilities
  • The Toronto Real Estate Board foresees another year of double digit price increases 
  • 61% of Canadians own their home
  • 1 in 3 Ontarians plan to buy a home as part of their retirement investment strategy.

Need more reasons why selling in this winter market is actually an awesome idea? Let’s talk about your options, give us a call!