According to the latest data from the Toronto Regional Real Estate Board (TRREB), the average selling price in the GTA hit $1,118,374 in July, a 5.3% drop from June.
The City of Toronto registered an even greater decline, with the average home price falling $7.4% month over month to $1,066,184. The city’s overall decline was outpaced further still by detached homes, which saw average prices fall 8% on a monthly basis to $1,641,045 in July.
Although the price point keeps the sought-after property type out of reach for many prospective purchasers, there are a number of neighbourhoods in Toronto where detached abodes can be found for far less.
According to TTREB here are the Freehold homes under $1 Mil currently available in Milton and Mississauga. We also calculated the minimum down payment required for a home in each area based on the Government of Canada’s guidelines.
Of the 35 neighbourhoods included in the report, there are only two where the median price of a detached home sits below $1M. Meanwhile, there are seven where the price is over $2M.
Seller have their Realtor to protect them so as a Buyer you need your own Realtor to Negotiate with Seller Realtor. For more details and more listings call Owais at 416-882-9090 for No obligation