May 06, 2014
By Bob Komsic
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.