— We take our content seriously. This article was written by a real person at BREL.
MLS Areas:
Downtown: C1, C8
East: E1, E2, E3
West: W, W2, W3
Midtown/North : C2, C3, C4, C9, C10, C11
How’s the Toronto Real Estate Market?
It’s madness out there: 30 offers on a downtown loft, 19 offers on an East York bungalow, 27 offers on another condo, 100+ showings on a North York condo. It hasn’t felt this crazy since 2017 (though the sale prices are more defendable right now then they were a few years ago).
January saw the largest month-over-month price increase since October 2017, with the average selling price increasing by 12.3% year-over-year. New listings were down 17.1 per cent compared to last year.
The experts are predicting a 10% increase in Toronto prices this year – but if this pace keeps up, I wouldn’t be surprised to see that number a lot higher.
Sellers: the time to sell is NOW. There’s a serious shortage of properties for sale and Buyer demand is off-the-charts.
How’s the Mississauga Real Estate Market?
From our Mississauga agent, Nicole Harrington:
If you’re active in the market right now, then these stats are going to be of no surprise to you – sales are up, listings are down, and competition for any well priced and marketed available properties is fierce.
