2019 has been a better real for real estate, after the long drawn out 2018 when the market still had after effects from the intense record breaking 2017 market. The market on average this year in the GTA has increased 3% overall and the number of homes sold almost already surpassed the slow 2018 year. With record low interest rates, the market has rebounded. Lets take a look at whats happening with our markets based on certain cities. Today we will compare
Toronto, Mississauga (Peel), Milton (Halton) and add a couple more affordable markets Waterloo and Hamilton in the mix.
TORONTO REAL ESTATE
Toronto is a great city, but also the most pricy. Average home prices taken from TREB (TORONTO Real estate Board) is $952,311 . This number was taken including September sales prices and thus the beginning of the fall market. Out of 3499 active listings, 1433 Sold meaning about 41% of homes listed sold in the fall so far.
When reviewing the chart please not that:
W sections are western parts of the city, which includes Etobicoke, Junction areas, Rexdale and such. The LEAST expenive areas are W 1,5, 9 and 10
C is Central Toronto, the downtown core form the Lake to the 407. The least expensive areas are typically C1 which is downtown, however that state will be all condos. Also C 11, C15.
E is Eastern Toronto and Scarborough. The most affordable areas are E 4, 8, 9, 11..
Real Estate in Peel (Mississauga, Caledon, and Brampton)
Having a close look at the active and sold listings this month, the market is definitely moving. Especially in Brampton which sold 68% of their active homes in the month of December. Mississauga is also really active and on average is only $25,000 more expensive then homes in Brampton. Caledon is the most expensive and slowest city of the three with only 27% active sold listings in the fall so far.
Mississauga Real Estate
Mississauga has been one the best cities to live for years. Its location, access to highways, Go Trains and overall high quality of life make it an attractive home. Lets review the yearly and recently month average prices.
Condo Apartments: Yearly $469, 904 in September up to $492,592
Townhouses: Yearly $741, 777 and in September $694,123
Semi Detached: $751,556 yearly and up a little this fall to $754,000 even.
Detached homes: Yearly $1,095,899 and about the same in September sales $1,098,417
To summarize looks like prices are stable in Mississauga. Townhouses have on average sold a little less this last couple month and condo apartments values have risen, selling very well right now.
Milton Real estate
Milton is a up and coming community. Builders are constantly developing new communities, thus the town has a lot of new school, homes, parks, and the highest concentration on children in one city in Canada. Needless to say, its a great place to raise a family. Here are their real estate numbers.
It is interesting to note that all types of homes in Milton has risen slightly in the fall. The largest jump are condo apartments rising about 6.7% though out the year. When comparing Milton to the rest of Halton, it is still the least expensive city. Burlington and homes in Halton hills are comparable. Oakville is the most expensive city and on average has higher prices then Toronto!
Kitchener & Waterloo area
The reason we added Kitchener, Cambridge, Waterloo is because these cities are still on the Go Train line and therefore still in the realm of the GTA, but but they will still be affordable for the common person.
Cambridge: $538,270
Kitchener: $531, 023
Waterloo: $510, 584
Not only are these cities great for affordability, great for investment but a lot of homes in these cities would qualify for first time home buyers. The governments’ new first time home buyer program only qualify for a maximum purchase price of $560,000. That means you can find that in these cities, have a look!
You can also review the new first time home buyers program HERE
Hamilton
Hamilton has been another up and coming city, full of life and desire. The city has accepted a lot of new families and continues to go. We included it in the list to show that this city is also another reasonable and affordable destination as average prices are still under $600,000. Reviewing homes types, condo apartments and detached homes are up in Hamilton this fall.
Is there something you would like to know? Or a topic you want to know about? Let us know!
info@dukerealtyhomes.com
Filip Hajduk
647 460 0911
