“Toronto Detached Real Estate Prices Fall Below Inflation, Inventory Jumps Over 195%” via Better Dwelling

Toronto’s detached real estate continues to explore where prices should be. Numbers from the Toronto Real Estate Board (TREB) show detached prices are starting to fall across Greater Toronto. The lower prices were accompanied by lower sales, and higher inventory. Sounds bad, but that means the market is now adopting healthy market mechanics. Healthy market mechanics is a good sign that the market will normalize.

Detached Prices Fall Below Inflation

The benchmark price, which is the typical price of detached home, is slightly higher. TREB reported a Greater Toronto benchmark of $907,100 in January, a 0.25% increase compared to last year. The benchmark in the City of Toronto is now $1,080,800, a 0.37% increase compared to the same time last year. Both of these numbers are up, but it’s also worth noting these are both well below inflation. Slowing or negative growth is needed to correct last year’s market frenzy.

READ FULL ARTICLE

Loading Facebook Comments ...
No Comments

Post A Comment

Sign up for automatic property updates.

 

Join thousands of Torontonians who receive our automatic updates. Stop manually spending your time searching, we will send the properties that meet your criteria directly to your inbox.