Happy New Year! Record Year in Toronto Real Estate!

It was a record year in Toronto real estate! The TREB MLS average sale price was $622,217, up 9.8% from 2014. And there were 101,299 sales reported, up 9.2% from the number of sales in 2014.

"Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term," said TREB President Mark McLean. "If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand," continued Mr. McLean. Thank you all so much for making it a fun & busy year for us! I truly appreciate all of my clients & friends and wish you all the best in the new year!