Housing Market Recap Greater Toronto Area December 2017
The average selling in the Greater Toronto Area for December 2017 closed off with $735,021 – a 3.5% decrease from November 2017. For 2017 as a whole, the average selling price was $822,681. There are 2.7 times more active listings in December 2017 compared to 2016 which means that moving into January 2018, we will not be seeing the low levels of inventory that we saw in early 2017. Although it is typical that it takes longer during November and December to sell a home, the housing market more balanced as it took 27 days on average to sell a home in December 2017 compared to just 20 days in 2016. Finally, homes on average in December sold for 98% of the listing price which is normal for the area.