January 22, 2014
Toronto real estate 2013 year in review
2013 was a big year for real estate, especially for Toronto and the GTA. We’ve compiled a review for you to understand just what went down.
Ever wonder how much the mortgage rates fluctuated or how many days a property was on market? The team here at Zoocasa has crunched all of the numbers and we’re showing you the most interesting statistics below: a summary of existing home transactions, mortgage rates, sales and average price by home type and a 2013/2012 year-over-year summary.
The real estate market in the GTA had a slow start but picked up quickly. Sales went up 2% from 2012 and there was a 5.3% increase in the average selling price of a residential property. Industry experts believe that this upward trend will continue in 2014 as borrowing costs are expected to stay low and inventory will be limited. Zoocasa is expecting 2014 to be a strong year in real estate.
Like more where that came from? Be sure to check out our other infographics on our blog.