Thursday, June 06, 2013

Toronto Housing Market Hits Record HIgh Average Home Price


M5V Condominiums For Sale King St West Toronto
M5V Condos Toronto King St West

Toronto Home Prices At Record High In May

Toronto may have declined a new Casino but the Toronto Real Estate Market continues to defy the odds reaching a record high in prices, surpassing a record set in May 2012.

The average resale price of a Home in the GTA was a record $542,174.

Toronto Condos in the downtown area gained as well by 1.2 per cent to an average price of $372,768.

In the City of Toronto both sales and average price were both up by 3 per cent year over year.

There still is a shortage of homes on the Toronto Real Estate Market with demand from home buyers outstripping supply contributing to higher price growth.

Here is the average price of different Toronto Home prices:

  • Toronto Detached Homes-$864,536
  • Toronto Semi-Detached-$633,625
  • Toronto Townhouse-$463,772
  • Toronto Condos-$372,768
Price growth for the Toronto GTA Homes remains on target to see overall price growth in all home types increase by 3.5 per cent for 2013 according to the Toronto Real Estate Board.

View current Toronto Rosedale Homes For Sale and Toronto Downtown Condos For Sale.

Pictured above M5V Condos For Sale,Rent.