This video is about American homes on average, but the truth of the matter is, the message that homeowners have tremendous equity built-up in their homes is more true of Canadians and specifically Torontonian’s than it is of our US counter-parts.
In fact, according to the Toronto Regional Real Estate Board, as of January 2021, the average home in the GTA was worth approx $967,885 vs $838.087 in January 2020. That’s an increase of approx 15.5% or $129,798 per homeowner. Of course, that is just an average based on all home sales of all home types. So, for some, it will be a lot less, but for others it could mean a whole lot more!
For your review, here is the JANUARY 2021 – MARKET WATCH Report from TRREB:
Check the YEAR-OVER-YEAR SUMMARY in the bottom right-hand corner. Amazing, right!!!
To find out what your home equity is in today’s market, call, text, or email me – SHAWN VENASSE – Sales Representative – at 416.921.1112 or firstname.lastname@example.org. Perhaps it’s time for a move or maybe a renovation or something altogether different.