Average Selling Price in Toronto Is Up in January 2014 Compared to January 2014

Real Estate Consultant Jameson Lee believes that home ownership will continue to be affordable during 2014.

 

Scottsdale, AZ -- (ReleaseWire) -- 02/19/2014 -- Jameson Lee the popular Real Estate Consultant who Provides a better real estate buying and selling process with his free reports, local listings, and years of experience, agrees with a recent report by the Toronto Real Estate Board which states that home ownership in Greater Toronto Area remains affordable.

According to the report, due to the reduced number of homes that were listed for sale in January compared to the same time last year, it has made it difficult for home buyers to find a home of their dreams.

The number of sales in January 2014 compared to January 2013 was down by 2.2 per cent with only 4,135 sales through the TorontoMLS system and new listings entered into the system were also down over by 16.6 per cent to 8,822 in the same period.

“With the average selling price for a property in Toronto, Canada selling for $526,528 in January 2014 compared to $482,080 resulting in an increase of nine per cent, property owners could now be tempted to sell their property resulting in more choice for buyers,” said Jameson Lee

It has been predicted that the property market will continue to be strong in 2014 allowing property owners to increase the equity within their homes but with mortgage rate remaining low, houses will still be affordable to the average buyer.

If you are a property owner and would like to know how much your home is worth then please visit www.jamesonleerealestate.com