Toronto by Doug

According to the TorontoMLS System, number of sales in December 2014 has increased by 2.0% to 6,519 in comparison with 6,391 units sold in December 2013. The average price rose to $616,13 which is a 4,36% increase compared to last year's average price of $590,366. On the other hand, the number of listings has slightly decreased along with average days on market.

Jason Mercer, TREB's Director of Market Analysis stated:

"The number of households looking to purchase [...] increased, while the number of homes from which they could choose decreased. This situation resulted in more competition between buyers and more aggressive offers."

JK Infographic Dec/14/01

All these market indicators are clearly showing that the shortage of listing and subsequent price increase that was present throughout 2014 is probably going to continue 2015.

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