Now, when we look at individual asset classes starting in average price points, detached homes are sitting just under 1.3 million, and semi-detached are sitting at $1,087,000. This is relatively consistent with what we've seen over the last couple of months, but it's worth noting that if you're wondering how much your place is worth, gone up or down over the last year, you have to look at it in terms of micromarkets. This means that there are certain areas that are in incredibly high demand for freehold properties. And their property values may have gone up, while other areas in less demand have gone down. So definitely need to get very specific when you're talking about freehold assets.
The Toronto condo market has gone up 64% in price over the past five years, but does that mean we're in a bubble? So let's do the quick math on that. 64% over five years means that each year the Toronto real estate market for Condos has gone up 12.8% meaning every month you've owned a Condo, you've gone up 1% in appreciated value over the past five years. So let's break it down even more. That means that every single month, if you owned a property worth $500,000 over the past five years, you've earned $5,000 a month on appreciation on your Toronto Condo. Now, it's clear to me why this is happening in our market.
This video is looking a bit back at what happened in 2018 and predictions for the future of 2019. Now, we can give our recommendations based on the stats that come out and everyone can tell a different story when you're looking at the numbers, but we do this on a day to day, we're on the ground level, we're seeing why people are wanting to enter the market and why people are selling, so hopefully you can keep that in mind as you watch this video and if you have any questions at the end, just let us know.