Toronto Housing Market Shows Signs of Recovery

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Real Estate News

Toronto,Housing Market,Recovery

Despite the economic downturn, the Toronto housing market is showing signs of recovery as buyers eagerly take advantage of lower interest rates. Sales numbers are slightly lower than last year, but experts predict a surge in the coming months.

, long-sidelined buyers are restless and over-eager to get their foot in the door and take advantage of the lower interest rates. And, being Toronto, demand for housing seems to be perpetually insurmountable regardless of the economy, especially in the face of such a rapidly growing population.shows sales numbers in the region are still slightly lower than this time last year, experts say that things are indeed picking up again, and are set to surge later in spring.

Sold history for the property from Zolo.ca show that it was sold for more than $216,000 less than it is currently going for, just a few months ago. The listing history shows that the 2+1 bedroom, two bathroom bungalow was listed last fall for $935,000 and sold just over three months later for an even lower $912,000 in December.

The current price — for which the home seems to have sold conditionally — marks a $216,888 jump in less than four months without, it seems, any renovations being done to the home whatsoever. The photos on the left, the current listing phtoos, show no improvements made to the home from when it was sold for far less just a few months ago, as seen in the earlier listing photos on the right. Photos from RE/MAX Epic Realty/Chestnut Park Real Estate Limited.

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