Here is the August market statistics from TREB (Toronto Real Estate Board) . From these charts, you can see that from 2009-present, the real estate market in GTA has been at a steady increase. Our market does decline in the winter months due to some factors. For example, a lot of families don't want to move while kids are in school, its Christmas time, its cold and other personal reasons.
In addition, the average price for a Resale home has been on the increase.
A question, that I have received many times over is "I am going to wait until the housing market declines" My answer to that question is: When is it going to decline? No one knows how the market will turn out. However, from the charts, it looks like the average price will stay on an incline for more years to come.
All I know is that, if you want to buy a home do your homework first. Find the right Realtor, find the right mortgage for you, and have a budget.
Check out the TREB (Toronto Real Estate Board) charts and if you have any questions. Write me a comment or email me.
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