The housing market in the Greater Toronto Area stayed strong in the summer.
There were 7,600 sales through the TorontoMLS system in August 2014, a 2.8% increase compared to August of last year.
“The fact that sales were up for all major home types in August suggests that first-time buyers and existing home owners remain very active in today’s marketplace,” says Toronto Real Estate Board president Paul Etherington.
The average selling price in August 2014 was $546,303 – up 8.9% in comparison to the average of $501,677 reported in August 2013.
The year-to-date average price through August was $562,504, which represented an increase of 8.5% in comparison to the same period in 2013.