Buyers looking for a home in the City of Toronto are still facing intense competition as the average house price creeps up to $633k. Once again, price increases have been realized for all major home types with semi-detached home prices in the 416 area leading the charge at +14.7%.
Notably, October saw prices of detached homes in the City of Toronto grow to close to the million dollar mark with the average price at $951,746! The condo market also realized strong growth with prices up 8.2% at an average of $390k.
TREB forecasts strong price growth for the remainder of 2014 and into 2015.
