This summer’s real estate market ends on a strong note and is expected to continue into the fall. Get the facts in our monthly infographic of sold Toronto home prices in Aug 2014.
[Tweet “#TorontoHomeSales up again in August pushing the average price $546,303 (up 8.9%!)”]
As we end the summer, the real estate market continues to grow (although not at the double digit rate that we have seen in previous months). August’s sales growth of 2.8% had a significant impact on price with the average selling price now at $546,303 compared to $501,677 figure reported this time last year. This strong price growth can be attributed to a decrease in the number of listings posted in August versus prior year. With less listings, buyers are competing against each other for homes continuing our strong sellers market and rapid price inflation. With growth posted in all major home types it remains a challenge for buyers to score their next home.