TORONTO REGIONAL HOME SALES BREAK OCTOBER RECORD

Nov 04, 2020

By Bob Komsic

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The Toronto Regional Real Estate Board reports home sales shot up 25.1% last month compared with a year ago.
And the average selling price of a home rose 13.7% to $868,318.
The board’s chief market analyst says the market’s now caught up to where it was this time last year, despite a near halt in sales last spring when the pandemic hit.

However, TRREB president Lisa Patel says COVID-19 has pulled buyers away from downtown condos and toward more spacious detached homes in the suburbs.
As buyers competed over limited listing for detached homes, the number of condos listed for sale in October was double the number that were on the market a year ago.
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