Toronto area home prices continue to rise. According to the latest statistics:
“The Toronto Real Estate Board is reporting a sales increase of 11.8 per cent between last month and January 2016, despite a double-digit drop in the number of new listings.
There were 17.6 per cent fewer new home listings. however TREB is reporting 5,188 homes sold in the GTA last month, compared with 4,460 from January 2016.
And prices are showing no signs of slowing down. The MLS Home Price Index Composite Benchmark price for all residential properties in the GTA increased by 21.8 per cent on a year-over-year basis, to an average of $770,745. That is for all home types.
The average price of a detached home in Toronto is $1.3M, and $999,102 for the GTA.”
More info at 640 Toronto