The January market statistics are out and it looks like the scarcity of listings will be pushing prices up again and fuelling the Toronto Real Estate Market…along with the net 100,000 new Torontonians moving here yearly.
Those of you who expect big change need to look outside the City and Province to see that as a major economic centre in the World, Toronto is still very well priced.
It looks like February will be even busier than January but the strength is in Detached Homes as they are scarce. Price increases will be highest in that sector. Condos are more a lifestyle choice…a good one and sometimes necessary but do not expect the same increases in pricing there.
Patience is needed when buying or selling. Make sure you are not hasty but when you see what you want and feel the value is there, then rise to the occasion. You will not regret it.
Title photo by Sean X. Liu