The January Toronto Market is off to a strong start! Reported in the MLS® for January 2019 was a total of 4,009 home sales. Although prices appeared to continue their decline, it should be noted that the rate of price change began slowing significantly, potentially indicating a turnaround going into February. Further, when compared to January of the previous year, the overall percentage purchase price change increased by approximately 4%. Average Days on the market remained at a steady 33 days, fluctuating slightly when compared with data from the previous year. The market outlook on Real Estate for Toronto is overall very good, indicating it is time to buy!
Garry Bhaura, President of the Toronto Real Estate Board (TREB) stated “It is encouraging to see the slight increase in January transactions on a year-over year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019,”.
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This data was obtained via TREB. This data has not been independently verified by a third party. ReaLawState makes no warranties or claims against the data and will not be held liable for inaccurate information.