Thursday, March 07, 2013

Toronto Homes Average Price Increase February 2013

Toronto Downtown Condos
Toronto Downtown Condos

Toronto Homes Increase In Average Price February

The average resale price of Toronto Homes increased to $510,580, up two per cent on a year over year basis.

Fewer luxury detached homes sold contributing to a lower overall price for homes in Toronto and area.

The reason was Ottawa's crackdown on buyers of homes over $1 million requiring at least 20 per cent or $200,000 minimum as a down payment.

Add the 100 per cent Toronto Land Transfer Tax and you can see how buyers and sellers rethink their move at the present time.

The Toronto Real Estate Board is forecasting an average resale price of $515,000 in 2013.

Toronto Condos accounted for 1352 of the total Toronto MLS February sales at an average resale price of $331,597. Toronto Condos in the City of Toronto trended higher at $352,614.

Iris Li is a ReMax Condos Realtor specializing in Toronto Downtown Condos, Condominiums, Town homes and Lofts.

Toronto Downtown Condos Affordable-to Buy Or Rent

Toronto Condos On Bloor Street