Toronto Luxury Real Estate: January 2020 Market Report
January 2020 showed a jump in the of 7.725% year over year in the average sales price and a sharp rise in the number of sales up 14% year over year. The days on market is under one month as there is a shortage of inventory in central Toronto. The lack of listings is causing upward pressure on prices and we are back to the bidding war environment. The Stress test and basic affordability does help curb the price increases. Under $1 million properties are the most frenzied as you can qualify of an insured high ratio mortgage under $1 million.
For full details on the Toronto Real Estate Market please see Chris Kapches, CEO of Chestnut Park Real Estate Market report in the video below.
Please know I have buyers for quality properties in Summerhill, Forest Hill, Annex and Rosedale. Some of my buyers are willing to renovate and others are looking for a turn key opportunity. Should you wish to quietly sell your property please do not hesitate to contact me. We can easily do a property appraisal for you and decide what a fair value would be for you home.
Sales Representative, Chestnut Park Real Estate Limited
Chairman’s Award 2017,2018,2019