Yes, this Market Snapshot represents the month of November not April, May or June!
The average selling price for all home types combined was $1,163,323 – up by 21.7 per cent compared to November 2020.
With supply not meeting demand these numbers will continue to climb driving up sales and competition.
We personally experienced this with 1 of our listings this past month. One of our luxury listings sold in less than 72 hours for full asking at nearly $3,000,000! This doesn’t happen everyday in Toronto Real Estate given the majority of buyers are not looking for homes at that price point.
Furthermore, as we predicted earlier this year the condo market is gaining momentum and tightening up as first time buyers return to the market and the economy continues to recover.
With the government expecting over 400,000 new immigrants into the country in 2022 alone we expect the Market will continue to thrive.
If you are thinking of making a move or would like your own personalized market stats send us a message or leave a comment below – Let’s Chat!