October Market Watch

October was a crazy month and one of the best the W & Y Homes Co. Team has ever had. Even though the weather was cooling down we found buyers to still be very active and were competing in a lot of multiple offers on freehold properties. The latest stats from the Toronto Real Estate Board show that Detached and Semi-Detached sale prices stayed relatively the same since September but there was an Increase in the average sale price of Town Homes which continues to dominate the highest year over year increase in all sectors. There was a very small increase in the sale price of Condo Apartments which is continuing the trend of small growth in that area. The amount of properties that came on the market in October was only 8 more than what came up for sale in September showing the sellers are realizing that the colder temperatures are not affecting how well their homes will show. Unless we get hit with a Polar Vortex we expect this trend to continue until the holiday season.

Written by April Williams