LOW SUPPLY, HIGH DEMAND KEEP DRIVING HOME PRICES HIGHER

Sep 04, 2014

By Bob Komsic

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Toronto’s housing market was hotter than the weather last month and it’s downsizing Zoomers who are enjoying the benefits.

Portrait of a happy romantic couple outdoors.

The Toronto Real Estate Board reports that 7,600 homes changed hands in August – an increase of nearly 3 % over August of last year.

Year-to-date sales are up 6.5 % over 2013.

For Sale

And the average selling price last month was $546,000, almost 9 % higher than a year ago.

The Board says sales were up, but the number of listings was down, meaning Toronto continues to be a sellers’ market.

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