According to Toronto Real Estate Board, there are 7,600 sales through the TorontoMLS system in August 2014. It was up by 2.8 per cent compared to 7,391 in August 2013. The sales were up for all major home types.The average selling price in August 2014 was $546,303 which is up 8.9 per cent in comparison to the average of $501,677 reported in August 2013. This was the result of low number of listings and high number of sales in August.
We should look forward to an upward fall market and expect that demand for ownership housing will remain strong.