11/10/2020
Toronto home prices continue to climb to record highs
After a full month of fall, Toronto home prices are still climbing.
According to the Toronto Regional Real Estate Board‘s October market report, the average selling house price in the Greater Toronto Area (GTA) hit $968,318.
That is yet another record-high in Toronto’s real estate market, which has been climbing to unprecedented levels since June and exacerbating the city’s affordability crisis.
The average selling price for a house in the city climbed up to $1,025,925. Semi-detached Toronto homes averaged $1,154,087. And detached Toronto homes are 11.2 per cent higher than this time last year, averaging $1,470,857.
House prices are up across the GTA. Buyers searching for a reasonably priced semi-detached home will need to take a trip out to Orangeville, where the average is $537,582.
Condo sale prices in the GTA averaged $622,122 in October, showing 0.7 per cent growth. Those averages are close to the Toronto figures, with the price growing 0.8 per cent to $668,161.
Condo selling prices in the 905 rose 6.8 per cent year-over-year, averaging $541,582.
And while the condo market is showing signs of an impending decline, low-rise Toronto home prices continue to rise as if they’re immune.
Reference: https://cutt.ly/EgCoFxF
Photo: https://cutt.ly/ggCo7Dl
