GTA Real Estate Market Watch - December 2019.
Published January 7th, 2019
Here's what happened in the GTA Real Estate Market last month December 2019
Price comparison to November 2018 (last year)
- Detached properties increased by 11.6%
- Semi-Detached properties increased by 6.5%
- Townhome properties increased by 7.8%
- Condo Apartments increased by 10.4%
As I had mentioned last month, December should see some great buying opportunities with prices staying lower, compared to the rest of the year – let’s see how I did with that prediction. Compared to November 2019:
- Detached properties had a slight increase by 0.75%
- Semi-Detached properties had a drop of 4.03%
- Townhome properties had a slight increase by 0.89%
- Condo Apartments had a slight drop of 0.84%
Semi’s took a beating last month, dropping a whopping 4% in one month! The other properties stayed within less than a 1% threshold of appreciation or depreciation, almost keeping the overall price similar to prices in November. This may be attributed to homeowners who had purchased between 2010-2015 now looking to use some of the equity in their properties to reinvest into purchasing a second property for investment.
January will be interesting considering where we left off in December, based on past trends, prices should stay low or even dip slightly to have another 30-45 days of picking up a deal on resale properties.
If you were waiting to jump into the market to get a deal for personal use or investment resale – get your financing in order ASAP to jump on great deals BEFORE February comes around and buyers start trickling out of the woodwork! Beat out the high Spring Market prices NOW!
Please note that these are overall GTA stats & trends, which do apply to the regions of York, Durham, Peel & Toronto - however, if you'd like specific information regarding a particular region or city, please let me know and I can provide more precise statistics and information.
Happy New Year, see you in Feb!
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