The weather is cooling down but Toronto Real Estate is still hot!
The weather may be cooling down but home sales in Toronto are still hot increasing 8.3 per cent versus prior year. Although we saw growth in sales of most major home types throughout the GTA, semi-detached homes in the 416 area had the strongest growth at 21 per cent. This pushed the average price for a semi in Toronto to a whopping $670,180 – up 14.8 per cent versus September of last year! For first time buyers looking to get into the market there seems to be a bit of relief on Townhouses in both the 416 and 905 as prices have experienced more moderate growth at 5.5 per cent and 6.8 per cent respectively (bringing the average price to $422,209). Overall it looks like the early days of September continue to tell the same story in Toronto as we have been seeing for a while – there are a lot of buyers active in the marketplace relative to houses available.
