Home buyers who found it difficult to make a deal in the spring and summer due to a shortage of listings have benefitted from increased supply in the fall which has resulted in a continued upswing in prices. The average selling price through the TorontoMLS® in October was $478,137 – up eight per cent compared to October 2010.
Sellers’ market conditions remain in place in many parts of the GTA. The result has been above-average annual rates of price growth for most home types. Thanks to low interest rates, strong price growth has not substantially changed the positive affordability picture in the City of Toronto and surrounding regions.