Bogdan Naie Broker ABR, BA, CLHMS, CNE, CNHS, e-PRO®, RE/MAX HALL OF FAME, RCC, SRS, SRES
RE/MAX Realtron Realty Inc. Brokerage Independently owned and operated
Office: 905-764-6000Mobile: 416-662-7874

REMAX 2017 Housing Market Outlook Report

About the 2017 Housing Market Outlook Report

HIGH DEMAND AND LOW SUPPLY CONTINUED TO CHARACTERIZE VANCOUVER’S AND TORONTO’S HOUSING MARKETS THROUGHOUT 2016 AS COMPETITION FROM BUYERS FOR LIMITED INVENTORY OF SINGLE-FAMILY HOMES PUSHED PRICES HIGHER.

The average residential sale price increased 13 per cent in Greater Vancouver to approximately $1,020,300 and rose 17 per cent in the Greater Toronto Area (GTA) to an estimated $725,857. Although demand remains high in both urban centres, limited inventory in the freehold market, the new 15 per cent foreign-buyer tax in Vancouver and the recent tightening of mortgage rules by the federal government are expected to soften market activity in the short term. In 2017, RE/MAX estimates average residential sale price will increase by two and eight per cent in Greater Vancouver and the GTA respectively.

Regional markets in close proximity to Canada’s highest-price cities continued to experience steady interest from local move-up buyers and buyers from these cities (“move- over” buyers) who are looking to find a balance between affordability and square footage. This year there were considerable year-over-year average price increases in Barrie (16 per cent), Hamilton-Burlington (20 per cent), the Fraser Valley (20 per cent) and Kelowna (14 per cent).

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Bogdan Naie Broker ABR, BA, CLHMS, CNE, CNHS, e-PRO®, RE/MAX HALL OF FAME, RCC, SRS, SRES
RE/MAX Realtron Realty Inc. Brokerage Independently owned and operated
7646 Yonge Street
Thornhill, ON   L4J 1V9

Office: 905-764-6000Fax: 907-764-1865Mobile: 416-662-7874

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 9/25/2017 7:36:02 PM