Mar 04, 2015
By Michael Kramer
Some Toronto homeowners are enjoying healthy growth on their investment.
For the first time ever, the average price of a single detached home in Toronto has topped $1 million – for a calendar month.
The Toronto Real Estate Board (TREB) says in the 416 area code the average price for a detached house shot up 8.9 percent year-over-year – hitting $1.04 million in February.
Prices for all housing types – from condos to detached homes – were up 7.8 percent in February across the broader GTA, bringing the average price to $596,193 according to new figures from TREB.
All of this and it’s still a few weeks to go until the peak spring market begins to bloom.