Toronto Homes for Sale
Toronto Homes for Sale
James Bright
  • Home
  • About
  • Seller/Buyer
    • Seller/Buyer News
  • Property Listings
  • Client Gallery
    • Landmark Sales
    • Markland Wood Sales
    • Toronto Sales
    • Mississauga Sales
    • Oakville/Burlington Sales
    • GTA North Sales
  • Market News
    • Market Watch Realty Reports
    • Realty Reports
    • Markland Wood Community
    • Applewood Landmark Community
  • Applewood Landmark
  • Spotlights
    • Therapeutic Clown Program
    • Chef’s Corner
  • Contact
  • Home
  • About
  • Seller/Buyer
    • Seller/Buyer News
  • Property Listings
  • Client Gallery
    • Landmark Sales
    • Markland Wood Sales
    • Toronto Sales
    • Mississauga Sales
    • Oakville/Burlington Sales
    • GTA North Sales
  • Market News
    • Market Watch Realty Reports
    • Realty Reports
    • Markland Wood Community
    • Applewood Landmark Community
  • Applewood Landmark
  • Spotlights
    • Therapeutic Clown Program
    • Chef’s Corner
  • Contact

Toronto Home Prices

By James

House Prices : Average Toronto Home Prices hits $800,000

Home sales may be tanking across much of the country, but the price of coveted detached homes in the City of Toronto continues to soar, with the average cost exceeding $800,000 for the first time.

The price of the average detached home was up 17 per cent in mid September over the same time last year, hitting $805,308, according to midmonth figures from the Toronto Real Estate Board.

The increases are blamed on the fact there are fewer detached homes for sales than historic norms but unrelenting demand. TREB has blamed this phenomenon on moving costs — including Toronto’s unique land transfer tax — which have made moving so prohibitively expensive that homeowners are opting to hang on to their places and do renovations instead.

The average price of a detached home in the suburbs was $563,739 as of mid September, a relatively small jump of 6 per cent year over year.

Highrise condos prices were up 5 per cent in the 416 region to $352,851 in mid September over September, 2011, TREB’s figures show, while condo prices dropped 2 per cent in the 905 regions over the last year to $287,467.

The average price of a GTA house, which includes detached, semis, townhouses and row houses, was $496,786 in mid September, up 9.5 per cent from mid September of 2011.

The number of homes sold, however, was a completely different story thanks to stricter mortgage lending rules, which were cited this week in the 5.8 per cent drop in sales right across the country.

The number of residential property transactions across the GTA was down 15 per cent in mid September compared to the same period in 2011, with 2,544 transactions instead of the 2,995 recorded during the same period in 2011, said TREB.

By Susan Pigg

 

Average House PriceHome PricesToronto House Prices
Contact James Bright
Email James Bright
Toronto Weather
Ask James Bright Hows The Market Deal of the Month Chefs Corner Therapeutic Clown
Categories
  • Deal of the Month(3)
  • Property Listings(12)
  • Seller/Buyer News(86)
Categories
Recent Posts
  • 613-1485 Lakeshore Road East For Sale!!!
    September 15, 2017
  • 401-1300 Bloor Sold!!!
    May 25, 2017
Connect With Me!
facebook linkedin youtube google+

SiteLock
Toronto Homes for Sale
  • .
Follow us!