WHY FOR MANY A DREAM HOME IS JUST THAT - A DREAM

May 06, 2014

By Bob Komsic

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The cost of an average single-family detached home in Toronto is closing in on $1-million.

The Toronto Real Estate Board says the average price in April was just under $966-thousand.

That’s up more than 13-percent in the past year.

The board also says 9,700 homes changed hands last month, up nearly 2-percent over last year.

And the number would have been higher, but Toronto is seeing what the Real Estate Board calls a “persistent shortage of listings.”

The average price for all types of homes was $578-thousand dollars last month … ten-percent higher than a year ago.

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