TO Real Estate Market Watch – January

Posted by:Aleksandra Oleksak

How’s the real estate market in Toronto doing you ask? Tired of having to sift through tons of information just to get a brief overview of what’s happening? Well look no further! I present you with the 1 minute Toronto real estate market update, straight to the point & quick! Tune in here twice a month where I will be giving you an update during the first 14 days of every month as well as an update at the end of the month for the Toronto real estate market. In 1 minute you’ll find out how our market is doing, whether it’s a buyers or sellers market and Toronto real estate prices.

Here’s the next video for the first 14 days of January, enjoy (video transcript available at the very end of this post)!

Looking for more information or have any specific questions you want to ask? Then make sure to send them over and I will be happy to answer them.

Want to receive those 47 monthly Toronto neighbourhood reports I mentioned in the video? Then click Toronto Stats.

Here is the December 2013 snapshot I showed in the video, just in case.

December 2013 Toronto Real Estate Market Snapshot

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Video Transcript

Hey everyone! It’s the Realty Queen and thanks so much for tuning in to my first Toronto Real Estate Market Update for 2014. Now just as a warning that this video will probably be longer than 1 minute, so let’s get right into it. Now during the first 14 days of January, the average selling price in the 416 area was $517, 219 which represented an 11. 2% price increase when compared to last year’s numbers. Now all different types of housing sectors did well and detached homes saw a price increase of 21.1%, semi detached homes saw 13.8% and condos saw a price increase of 7.9%. Of course this is all compared to last year’s numbers. Now, unless you’re living under a rock, I’m sure you’re knowing that there is a huge lack of inventory happening on the market right now; there’s just not enough listings and it’s creating a little bit of a buyer frenzy as was demonstrated by the house last night that sold in the Junction Triangle for $210,000 over asking price with 32 offers which is I think absolutely insane and ridiculous. So sellers, please for the love of god, if you’re thinking of listing, get that house on the market now and don’t wait until it gets warmer. Don’t be scared of the weather and give those poor buyers some more options and I think I know somebody that can help you out with that. Now, I didn’t do an update for December so I just wanted to give you a quick snapshot of how 2013 finished off. So as you can see, the average selling price in the 416 area was up and prices all across the board was up as well and we finished 2013 with a nice, big bang. Now if you’re looking for more neighbourhood- specific information, I think I’ve got about 47 neighbourhood- specific reports I can send to you on a monthly basis. All you have to do is go to www.torontoweststats.com and get yourself on the list. So thanks so much for tuning in to this extra long edition of the 1 minute real estate market update and we’ll see you back here very shortly. 

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