08/11/2023
📊 Toronto's July Real Estate Rundown 🏙️
Diving deep into July's stats, and the Toronto housing landscape has some intriguing tales:
🏡 **Detached Homes**: Up to an average of $1,641,045, marking a strong 8.1% YoY climb. Those detached dreams? Certainly catching wind.
🏘️ **Semi-Detached**: Priced at an average of $1,257,086, signaling a modest 0.4% YoY increase. Semis holding their own, displaying consistency.
🏠 **Townhomes**: Racing forward with an average of $1,019,330, a rise of 5.8% over last year. The relative affordability of townhomes is catching the eye of buyers.
🌆 **Condos**: Ascending to an average of $753,520, a 1.2% YoY boost. As workers are ushered back into the office expect condo prices to remain consistent.
Sellers, homes are on the market for an avg of 24 days. Be prepared for this.
Jumping into TRREB's intel: The 7.8% sales leap from last July exudes optimism. Yet, given the Bank of Canada’s rate shift, it will be interesting to see how it's households recalibrate.
But here’s a nugget: As we brace for a surge in immigration, is our housing supply up to s***f? Probably not, we need collaboration at all levels.
Mulling a move or just fancy a deep dive into Toronto's real estate rhythm? Let’s chat. 📩 For more bite-sized insights, be sure to follow.
