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Smart Women Buy Real Estate!

There is an interesting trend that I have noticed in my Toronto business, the number of single women buying homes, let’s call it “Mortgage before marriage”.

Based on studies done in the United States, in the past 25 years, the percentage of single female home buyers has nearly doubled, making unmarried women the second largest group of buyers behind married couples.

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Single Female Homebuyer Statistics

  • Single females account for about 20% of home buyers (varying slightly year to year)…compared to about 10% for single men.

  • The median age for single female buyers is 41, but for first time single female homebuyers is 32

  • 58% of single female buyers are first-time homebuyers.

  • We purchase smaller—the average home size purchased by a single female buyer is 1,480 square feet (the average across all groups is 1,800 square feet).

  • More than half of single female homebuyers cite the reason for buying as pride of ownership.

 

Toronto Real Estate Market Stats

  • The average selling price in 2016 in Toronto is $762,975—up 21.1% from this time last year!

  • Double-digit increases were seen for all home types.

  • The average home as of August 2016 was only on the market for 18 days, compared to 23 in 2015, 27 in 2014 and 29 in 2013.

  • The average cost of a detached home in Toronto is about $1.2M (an increase of 18% since last year), compared to $905,610 for outside the city core.

  • Condo sales are up 32%, with the average price having raised 10% in one year.

 

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