Dec 03, 2021
By Jane Brown
House prices keep going up in the Greater Toronto Area.
The latest report from the Toronto Regional Real Estate Board says last month’s sales topped a November record and average home sale prices reached a new all-time high.
More than nine-thousand (9,017) homes changed ownership last month, up three per cent from November 2020 when 8,728 homes switched owners.
The average home price in the GTA stretched to $1,163,000. That’s a jump of almost 22 per cent compared with a year ago.
The average price of a detached home in the region hit $1,567,832 last month, while townhouses went for about $962,044 and condos came in at $715,104.
Supply is still an issue. New listings for November fell by 13 per cent to 10,036.
Demand for all types of housing continues to outpace supply, but the condo market, in particular is tightening up with prices accelerating more rapidly in suburban areas.