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For .pdf version, please click here: Milton Monthly – June 2019
Toronto the fastest growing city in North America
A study recently released by Ryerson University concluded that Toronto is the fastest growing city in North America. The population has grown by more than 77,000 residents in the past year (vastly eclipsing the runner up, Phoenix Arizona with 25,000). When we expand to include the entire GTA, the number increases to 125,000. Hardly a surprise that real estate demand has continued to increase at a consistent pace since the government intervention in early 2017.
The average sale price in Milton for May 2019 was $737,600, up 6.3% year over year and the highest figure seen since the “Fair housing plan” was passed by the federal government in the spring of 2017. Volume of transactions also increased significantly to 268 units, up 42.5% year over year and also the highest seen since April 2017. Inventory remains stable at roughly 5 weeks of availability, which is expected to increase as the market begins to cool (seasonally) for the summer.
With increased consumer confidence in the market, and strong external factors pushing it ahead, we are seeing many people return to the real estate investment market. If you’re looking for an investment opportunity or something that provides a positive monthly ROI (hard to find these days!) we can help. Feel free to drop us a line, we are never too busy to chat real estate.
Your local Real Estate professionals,
Kyle and Jay