For the 3rd 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 the latest sales – sales were up by 14.4% over July 2014.
Seems like listening to the doom and gloom bunch has yet again been a waste of time.
There is still a high demand for new housing in Toronto and seemingly there is no end to this trend.
Many of these units are being purchased for their owners to live in rather than as an investment property which is also an interesting change from the past years sales.
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%.
READ the full article from the Toronto Star here.