Now, In Real Estate.
2011 continued its torrid pace as 7,922 homes sold in July, bringing the total number of transactions through the first seven months of this year to 55,863. At this pace 2011 should end with close to 90,000 transactions, marking it as the second best year in the history of the Toronto Real Estate Board.
While the average price on the Toronto Real Estate Board is $465,777 and we use it as an indicator of rising prices, it is really not reflective of the “average “ price, as the Board covers a huge area, Hamilton / Wentworth to the west , Durham to the east and Innisfil / Georgina to the north. Even the “core” districts ofToronto(south of Steeles to the lake) are quite large and do not give a satisfactory “average”. The west districts being west of Dufferin to the York/Peel town line average $504,863, the east districts being east of the Don Valley Parkway to the Pickering town line average $402,405 and central being composed of the area east of Dufferin to west of the Don Valley average $598,116.
We will be sharing “average “prices in smaller market areas in an effort to provide you with better information.
As of July 31 2011 the average sale price in;
Aurora – $537,561
Richmond Hill- $592,295
Central south of Eglinton – $762,369 Central north of Eglinton – $717,824
As you can see, pricing a home for sale or helping a buyer purchase a home requires a lot of specific knowledge, experience and hard work. That’s why it’s critical to use an expert, full-time real estate agent when it comes time to buy or sell!
Have a great August!
Your Friends in Real Estate.