August average home price climbs 17.7% and sales jumped 23.5%

Average real estate home prices in the Greater Toronto Area increased to $710,410, up 17.7% in August 2016.  Sales increased by 23.5% to 9,813 from 7,943 sales in August 2015.  Meanwhile, inventory continues to shrink.  Active listings of properties available on the market were down 37.8% in the Greater Toronto Area.  New listings were down 1.2%.

It took an average of 18 days for a home to sell in August 2016.

Average prices for detached homes in the City of Toronto increased 18.3% to $1,206,637; semi’s went up 16.4% to $774,700; townhouses went up 16.9% to $614,638; and condos rose 9.8% to $446,612.

Riyaz Malam

Riyaz Malam

Sales Representative
CENTURY 21 Titans Realty Inc., Brokerage*
Contact Me

Blog Archives