GTA home prices surge as yearly sales approach record
December 12, 2014
Toronto real estate has had a great year so far – according to the latest TREB numbers, the average price of a transaction in November was $577,936, which is an increase of 7.4% from last November.
While the TREB news is usually a little dry, this article from the Star adds a little colour, with an example of how one Riverdale home, which needs half a million dollars in renovations, sold for $1.745M.
Single family homes are still at a premium, with the average price for a detached home now at $935,000. As well, total sales for the year are expected to surpass 93,700, which is the record set in 2007.