5 Jun 2012

Suburban Toronto home sales on the rise

Sales in the Greater Toronto Area (GTA) continue to be high after a red-hot streak in 2012, but recent trends have shown many buyers headed to the suburban parts of the city rather than the downtown areas, according to Moneyville.ca.

Referred to as "905" properties due to the area code, sales of homes in suburban Toronto were strong in the month of May, thanks mainly to an increase in resale listings. In previous months, most were hanging onto their homes rather than selling, which was making the market very tough for buyers. The lack of listings meant demand was far outstripping supply, in turn driving up prices.

According to the news source, 10,850 homes in Toronto were resold in May, with 6,720 in the "905" region. In addition to the much higher prices for downtown homes, analysts believe buyers are flocking to these houses to avoid the high land transfer tax in the city proper.

Those considering a move to Toronto may want to look into self storage facilities to hold onto their items until they're properly settled. With prices high, homeowners should be sure to choose a facility with affordable Toronto self storage rates.

Be Sociable, Share!

Related Articles [3]

4 Tips For Fireproof Document Storage

March 3rd, 2017
We all have valuables that we would be devastated to lose in a fire. Some of them are keepsakes, some of them are worth a lot of money and some of them are important legal...

Why It's Important To Get Your Winter Tires

December 20th, 2016
As soon as temperatures drop below seven degrees Celsius, it's time to swap out your all-weather, or your summer, or whatever tires you have on your car and opt for winter...

2 Tips For Choosing The Right Packing Supplies

February 12th, 2016
Having a pre-prepared list of all of the packing supplies you will need to move your belongings into a storage unit or a new home will make the move much less stressful. For...

Leave a Comment

Recent Posts

Blog Categories


Subscribe to RSS Feeds
Essential SSL