The prices in real estate in Toronto, in the Ontario region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Toronto has increased strongly during the last 6 months. In April, the average price per sq.feet was $777. In May this price pretty much remained the same at a value of $740 per sq.feet. In the following two months the price per sq.feet has increased 106 %, going from $758.5 to $802 per sq.feet. The price per sq.feet has had a considerable increase of 216 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $780.25 to $1,685.5 during August, and September.
Based upon to the price in Toronto (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is $816,291. In May This price remains at $783,316. During the following two months (June, July) the average price had a considerable increase of 117 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $869,123.25 to $685,048, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $725,251 they are 22 % more affordable than the average price for Toronto. The properties with the highest average price have 4 bedrooms, Their price is 161 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,017,256.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $687 / sq.feet, with an average $1,218 / sq.feet price in Toronto. The properties with the lowest average prices have 1 bedroom. They are 23 % cheaper than the average followed by properties with 2 bedrooms with a price at $825 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $725,251 it is 62 % cheaper than the average price in Toronto. "Commercial" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "House". At a price of $1,249,401 it is 74 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $353 / sq.feet followed by "Commercial" priced at $398 / sq.feet. "Apartment" is the most costly type of property with a $2,020 / sq.feet cost followed by "House" with an average price of $1,564 / sq.feet.