Tuesday, June 10, 2014

When the Average Sale at $1.0MM What do you get?

The average sale of a detached home within the City of Toronto is now at One Million Dollars. Market Watch for June 2014 shows average sale at $943k.
Average selling prices varied across the Greater Toronto Area, depending on geography and home type. A detached home in the City of Toronto sold, on average, for $943,055. In the surrounding GTA regions, the average detached price was $648,439. The average price for condominium apartments was $401,809 in the City of Toronto and $307,307 in the surrounding regions.
That means that the home you bought for $500k only 10 or 12 years ago has doubled and you are able to sell to fill your family needs going forward.

You are also in your power earning years.
You are prepared to pay the Toronto Land Transfer Tax on this purchase.
Interest Rates at 3% Fixed for 5 years make this very comfortable 

We are all waiting for the retirees to finally sell!  BUT, they are making their homes more comfortable [especially when compared to retirement home costs.]  Housing Inventory (the number available for sale) has declined about 10% per year since 2005 forcing more competition among shoppers.

So let's have a quick look at what was sold in the last 45 days in west Toronto detached and semi detached houses. What was actually PAID in the last few weeks.

You do need to sign in to get this PDF  but we do have a No Stalking Rule. 
Millionaire Monday   What sold in the last 60 days WEST Toronto   Better Still...  Let's update #MillionaireMondays on Twitter. 

Now that you have decided to sell....  What will be buy?  

1 comment:

  1. First it was Toronto that released its figures for house sales in August, and then just hours later came the news from Vancouver and its sales for homes.For more information, please visit [http://www.jalilirealty.com] Power of Sale real estate Toronto