Tuesday, May 13, 2014
See the trend?
The average price of a Toronto home climbed by 10.1 per cent in April 2014 to $577,898, with both condominium and detached homes sales springing back from low levels a year ago. There was an 85 per cent increase in numbers of new condominiums sold compared to last year, according to real estate market research firm Urbanation, and a 1.8 per cent increase in sales of all real estate. But homeowners have not rushed to list their properties after the slow sales in March and April. The Toronto Real Estate Board reports a shortage of detached, semi-detached and townhouse properties in Toronto and surrounding regions is constraining sales.