Toronto Resale Home Prices July Increase

Toronto Downtown Condo

Toronto Home prices rose 1.7 per cent in July, according to the Teranet-National Bank Index House Price Index.

The House price index showed prices for resale homes have risen eight straight months in the six metropolitan cities it covers.

Resale Home prices were as follows:

• Calgary up 2.3%
• Toronto up 1.7%
• Ottawa Up 1%
• Vancouver 0.9%
• Montreal up 0.5%
• Halifax up 0.9%

Five of the six cities surveyed in this index hit record highs, not bad for Real Estate across Canada.

Teranet also mentioned that Vancouver's July prices marked the 10th straight month of home resale prices, currently the longest run of any market in Canada.

The largest gains in resale homes from a year earlier was Vancouver up 8.5 per cent followed by Toronto up 4.8 per cent.

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Everyone's Talking-Toronto Condos

Toronto Downtown Condos Fort York

It would be very interesting to see how many times Toronto Condos are mentioned in the media including newspapers, video and even Blogs like this.

I can't imagine the same marketing and sales going into new Toronto Homes let alone Toronto resale Homes.

Toronto has seen these new high-rise Condo Towers in Forest Hill, Rosedale and of course downtown in the Financial District.

Everyone is talking Toronto Condos basically because these Condominiums are everywhere and at affordable prices with affordable interest rates.

On the Don Valley Parkway I am sure the commuters are thinking about making a change and leaving the car at home.

At Union Station with thousands of commuters heading in or out of Toronto I am sure they too are talking about making a move to Condo living in Toronto.

Just imagine, walking to work after a brief workout in a brand new Condo gym with perhaps a swim in a refreshing pool and meeting your co-worker who has spent up to 3 hours one way in their commute.

You, in the meantime have spent your three hours in whatever you wish to do for the rest of your life!

A dream, not really as I have clients who ditched the car, Go Train and yes even the Train commute from London Ontario and now walk to work.

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Toronto Downtown Condos Create New Neighbourhoods

Toronto Downtown Condos-CityPlace

New Toronto Condos continue to go up in the downtown areas.

Eventually once people move into their new Condos, restaurants, shopping and cafes will be sure to follow.

Earlier, one article mentioned the return of people from the suburbs and these urban residents want similar amenities like Grocery stores, and large upscale retailers.

The Condo growth in downtown Toronto over the last few years is incredible. As one of the top Condo markets in North America, Toronto is quickly changing to an all new downtown.

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Toronto Condos Continue Positive August Results

Toronto Condos continued to record positive sales numbers in August year over year.

In the 416 area of Toronto Condos were up 24 per cent in sales from a year ago. The average resale Toronto Condo price again in the 416 area was $364,437, up 11 per cent.

The GTA also posted positive returns with the average resale home price $451,663, up 10 per cent year over year.

According to the Toronto Real Estate Board, major home ownership costs including mortgage payments remain affordable.

Looking to Buy or Sell Toronto Downtown Condos or other Toronto Real Estate, contact Iris Li Remax Toronto Realtor.

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