We took a short break to spend time with family & friends, but are now back at work preparing for a busy 2018! We are setting big goals (future blog post to come) and keeping a close eye on the west end Toronto real estate market. We hope you were able to enjoy some time off as well!The Toronto Real Estate Board (TREB) has posted the December numbers and here is a snapshot of what the west end Toronto real estate market looked like in December. If you would like to compare these numbers to last month, you can find them here.
What Does This All Mean??
Due to the holiday season, December is a traditionally slow month in Toronto real estate, and this year was no exception. With only 25 sales in w01 and 14 in w07, there was not a whole lot of activity going on! Overall however, we have seen a rise in prices since this time last year, some sectors significantly while others have been more moderate. In the last few years we have seen the market take off early, in late January/early February, due to pent up demand. We can't see why this year would be any exception, so for those of you looking to buy, we should be seeing an influx of inventory in the coming weeks. If you are thinking of buying or selling, and would like further insights into the current climate, feel free to reach out and we can offer you a more detailed analysis of the upcoming market.There were also some mortgage changes that came into effect on January 1st, so stay tuned for an upcoming blog that breaks down these changes and their impact on the market.Happy New Year everyone!! From all of us at West Side Storeys, we wish you joy & prosperity in 2018! Stay warm :).