What to expect in 2018 in Toronto real estate and why the market was so unusual in 2017. .
Real Estate Performance over Ten Years (2008 to 2017)
Recently, we calculated that the Five years performance was a 10.71% annual increase over 5 years.
I think a five year history is a fairly good indicator of the market., but ten years might be better.
The average sale prices as reported by TREB for single family homes of all types in the GTA, including houses, townhouses and apartments, for the period ending 31 December 2007 was $394, 931.00.
The December closing number for 2017 was $735,021.
Let’s start out at the beginning of 2013 and compare that to now. We went saw a $340,090 increase or 86.11% over 60 months, or 0.0072% per month which is 8.61% annually. That’s the straight line percentage calculation not one which is internally compounded.
So, that’s an 8.61% annual increase over 10 years.
That’s a very reasonable return over a 10 year period.
(Synopsis from Brian Madigan, LL.B., Broker iSourceRealEstate.com )