FEBRUARY HOME PRICES CONTINUE GOING UP, UP AND AWAY

Mar 03, 2017

By Bob Komsic

Share on
As just about every home hunter these days will tell you, disregard the list price, everything’s going for $1-million – or more !
And as those looking for a home prepare for another weekend of checking out open-houses, the Toronto Real Estate Board releases its sales numbers for February.
In the city, the average price of a detached home sits at nearly $1.6-million — a 29.8% jump from a year ago.
In the suburbs, the average price of a detached home has climbed 35.4% to more than $1.1-million.
The real estate board blames the listing ”supply crunch” and says until that changes, expect ”very strong annual rates of price growth to continue.”
The board also downplays the impact of foreign buyers on the GTA market, pointing to a recent survey of its members who feel that’s been ”somewhat overblown.”
That survey found less than 5% of transactions last year involved foreign buyers.
And of those deals, 80% of foreign buyers were doing so not as an investment but as their primary residence.
Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: