With the second best December on record for home sales in the GTA, 2015 ended on a strong note. December sales certainly contributed to the overall record year for TREB, reporting a total of 101,299 homes sales in 2015, an increase of 9.2 per cent over the previous year.
In TREB’s Market Year in Review & Outlook Report the organization released some general predictions for the coming year:
- First-time home buyers between the ages of 18 and 24 will make up half of the buyers in 2016
- Prices will continue to increase in 2016, with the average home price falling between $655,000 and $665,000
- 2016 will either be another record-breaking year for real estate in the GTA, or the second-best year on record
Here are some notable sales from the month of December:
Bayview Village — Sold: $1.63 M | Bed: 3 | Bath: 3
Deer Park — Sold: $1.55 M | Bed: 5 | Bath: 4
Forest Hill — Sold: $3.79 M | Bed: 4+1 | Bath: 5
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