Home prices and sales keep climbing in Toronto

Neither weather nor warnings that Toronto’s housing market is overpriced managed to dampen a market that continued to defy the naysayers through a surprisingly strong 2013.

Total home sales were up 2 per cent last year over 2012 and house prices ended the year up 5.2 per cent, despite a wet spring and one of the snowiest pre-Christmas months in years, according to figures released Monday by the Toronto Real Estate Board.

The average selling price was $523,036 across the GTA, compared to $497,130 in 2012. Even the resale condo sector ended the year on a high, despite widespread warnings in 2012 around oversupply and dwindling demand.

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Randy Ramadhin

Randy Ramadhin

Broker
CENTURY 21 People's Choice Realty Inc., Brokerage*
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