Setting Your Sights on the Suburbs of Toronto


The 2015 Toronto Real Estate Market – An economic landscape where supply rarely meets demand, low-rise houses are highly coveted, and detached homes can fetch well over $1 million. We already know the 416 housing market is red hot right now, but what about the Suburbs of Toronto?

Suburbs of Toronto

Suburban GTA — Living here can really pay off

This year, Toronto has seen an increase in sales of freehold (low-rise towns, semis, and detached) homes, however, the actual figure may surprise you.  From January 2015 to August 2015, there has been a marginal increase of only 2 per cent.  This is mainly due to the lack of active listings as well as affordability.  What might be more surprising is the sales activity in the 905 area – in York Region, freehold housing sales saw radical increases this year, with a 20 per cent jump in New Market alone.

As housing prices in the 416 continue to become out of reach for many, hopeful homebuyers set their sights on the suburbs for a place to call home.  With larger lots, newer homes, less hustle and bustle, and basically more bang for your buck, the suburbs of the GTA are a winning choice for buyers in search of family homes as well as investors looking to stretch dollars.

The following Top 10 List covers housing markets in the GTA which saw the most significant price growth for low-rise homes in 2015, and figures representing a year to date comparison for 2015 and 2014.

Newmarket

Average 2015 House Price 2015: $693,190 – (25% increase)
Average 2014 House Price: $551,413

Total Sales 2015: 1173
Total Sales 2014: 999

Average Days on Market 2015: 16
Average Days on Market 2014: 20

Richmond Hill

Average 2015 House Price 2015: $1,011,031 – (20% increase)
Average 2014 House Price: $833,913

Total Sales 2015: 2014
Total Sales 2014: 1838

Average Days on Market 2015: 16
Average Days on Market 2014: 17

Vaughan

Average 2015 House Price 2015: $886,727 – (16% increase)
Average 2014 House Price: $764,782

Total Sales 2015: 2283
Total Sales 2014: 1981

Average Days on Market 2015: 16
Average Days on Market 2014: 21

Whitby

Average 2015 House Price 2015: $506,715 – (16% increase)
Average 2014 House Price: $437,082

Total Sales 2015: 1424
Total Sales 2014: 1327

Average Days on Market 2015: 14
Average Days on Market 2014: 16

Markham

Average 2015 House Price 2015: $935,272 – (15% increase)
Average 2014 House Price: $814,173

Total Sales 2015: 2287
Total Sales 2014: 2073

Average Days on Market 2015: 14
Average Days on Market 2014: 16

Aurora

Average 2015 House Price 2015: $734,735 – (15% increase)
Average 2014 House Price: $637,213

Total Sales 2015: 656
Total Sales 2014: 536

Average Days on Market 2015: 15
Average Days on Market 2014: 17

Ajax

Average 2015 House Price 2015: $515,318 – (14% increase)
Average 2014 House Price: $451,483

Total Sales 2015: 1414
Total Sales 2014: 1361

Average Days on Market 2015: 12 – (Ajax saw its homes sell the fastest in the GTA
Average Days on Market 2014: 15

Mississauga

Average 2015 House Price 2015: $717,661 – (11% increase)
Average 2014 House Price: $647,571

Total Sales 2015: 4317
Total Sales 2014: 4,166

Average Days on Market 2015: 17
Average Days on Market 2014: 18

Milton

Average 2015 House Price 2015: $521,548 – (10% increase)
Average 2014 House Price: $427,923

Total Sales 2015: 1,443
Total Sales 2014: 1,399

Average Days on Market 2015: 14
Average Days on Market 2014: 17

Pickering

Average 2015 House Price 2015: $563,823 – (9% increase)
Average 2014 House Price: $515,671

Total Sales 2015: 716
Total Sales 2014: 616

Average Days on Market 2015: 14
Average Days on Market 2014: 17

 

Source: Toronto Real Estate Board

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