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The rebound of the detached Toronto home

With home sales being up for every property type in the GTA, the industry has all of its eyes on what the fall season has to bring for Toronto Real Estate trends.

So far it looks like the detached home is making a come back. Since last spring, with the introduction of the Ontario government Fair housing Plan, there had been a decline in the number of detached home sales. However a recent report shows an 11% increase from last September in the city of Toronto’s home sales.

It is important to also note that there has been a 25% decline in the number of condo sales in the city of Toronto however an 8% increase in condo sales over all of TREB.

Zoocasa’s managing editor Penelope Graham tells Livabl that, “The tougher mortgage qualifications continue to challenge borrowers and limit the budgets they’re working with heading into the fall,” shares Graham. “Overall, the market is in healthy, balanced territory, and that’s going to appeal to motivated buyers.”

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By | 2018-10-04T15:05:06+00:00 October 4th, 2018|About Town, Family Estates and Estate Planning, General News|0 Comments