In August, 7,569 sales were reported through the TorontoMLS system. Total sales were up 21 per cent compared to August 2012. The average selling price in August was $503,049, representing an increase of 5.5 per cent compared to the average of $477,170 in August 2012. The increase of sales occurred in all major house types.
According to Jason Mercer, TREB’s Senior Manager of Market Analysis, a family with average income can still afford to own an average priced home in the GTA. The average price will continue to grow in the rest of 2013 due to tight market conditions.
Source: Toronto Real Estate Board