Toronto condos lead another record sales month in July, homes skyrocket out of sight
August 10, 2015
For the third month in a row, the Toronto Real Estate market has set records!
9880 properties were purchased in July 2015, up 8% over July 2014
Interestingly enough, condo sales represent a lot of it – sales were up by 14% over July 2014. This number is significant because it helps illustrate that despite what you may read from some ‘experts’, there is still a high demand for new housing in Toronto and according to Urbanation, many of these units are being purchased for their owners to live in rather than as an investment property.
The average price of a property in Toronto was $604,361, with the average price of a detached home *just* under $1 million at $996,770.
The average selling price in the GTA was $609,236, which represents a year-over-year increase of 10.6%.
Click here for an interesting piece on July market from the Toronto Star.