9:00a – 5:00p

Monday to Friday

265 Rimrock Road, Suite 202

North York, ON M3J 3C6

GTA Home Prices Up 10%

Tembo Financial February 26, 2016 No Comments

The average home price in the Greater Toronto Area (GTA) has increased by 10%. GTA Realtors reported nearly eight thousand residential transactions through the Toronto Real Estate Board (TREB) MLS in August of this year. This is nearly a 6% increase from the sales reported in August of 2014. Furthermore, the annual growth rate in new listings was greater than the annual growth rate in sales. During this period the average selling price for all types of homes were up substantially. According to Mark McLean, President of the Toronto Real Estate Board homes in the GTA were up approximately 10% year-over-year. With 2015 being a record year for home sales this increase was obvious as competition between buyers exerted upward pressure on selling prices. These trends have thus far remained consistent to last years transactions as we head into the winter months, now we question whether or not 2016 will be another record year.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!

*Subject to qualification.

Leave a Reply

Your email address will not be published. Required fields are marked *