ZOOMERS CASHING IN WHEN DOWNSIZING TO CONDOS IN TORONTO'S HOT HOUSING MARKET

Jul 14, 2015

By Jane Brown

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Toronto’s red hot housing market is showing no signs of slowing down. And there’s good news for zoomers who are looking to downsize as prices for homes have gone up more than prices for condos.

Figures from Royal LePage suggest that Toronto had the hottest real estate market in the country during the second quarter, with double-digit increases in all types of housing.

The Vancouver market was also strong with double-digit price increases for two-storey homes and detached bungalows, although condo prices were up a more moderate six per cent.

Nationally, the average price of a bungalow was up 7.5 per cent from last year at nearly $440,000, the average price for two-storey detached houses rose close to 7 per cent to more than $470,000 and the average condo price was close to $270,000 up nearly 4 per cent.

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