6 05, 2016

Toronto House Prices Are Rising By $550 A Day

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Every day you own a detached house in Toronto, your net worth rises by $550.

Or put another way, every day you delay buying a house in Toronto will cost you another $550.

The Toronto Real Estate Board (TREB) reported Wednesday that single-detached home prices hit an average of $1.258 million in April, up a massive 18.9 per cent in a year.

That breaks down to price growth of $16,820 per month, or roughly $550 per day.

That’s for single detached homes in the city itself. The average price for all home types in Greater Toronto rose by $104,000 in a year, to $739,082, up about 16.3 per cent in a year.

Condo owners aren’t seeing nearly the same rate of growth, though. Condo prices in the city rose 7 per cent, to $436,545, and in the suburban 905 region they rose 7.8 per cent, to $343,439.

So if you own a condo in Toronto, you’re seeing price growth of $2,411 per month, or “just” $79.26 per day.

Detached home owners can be forgiven for thinking they’ve won a real estate lottery.

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20 09, 2015

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If you’re thinking of buying or selling in Leslieville, WeSellLeslieville.com is designed for you! Check out current listings, weekend open houses and more! We are your neighbourhood specialists and pride ourselves on our extensive knowledge of the Leslieville real estate market. We live and work in Leslieville and truly believe that this is one of the best neighbourhoods in Toronto! Give us a call at 416.465.7850 or email us at info@WeSellLeslieville.com
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