Greater Toronto real estate prices are surging higher at the fastest pace in history. The TRREB composite benchmark price hit $1,259,900 in January, up 4.29% ($51,900) from the previous month.
@$Prices are now 33.29% ($314,667) higher than last year — about the cost of a whole house in Canada just over a decade ago. It’s an unreasonable amount of price growth.
In the City of Toronto, real estate prices are moving a little slower but still fast. The composite home price in the city hit $1,242,700 in January, up 2.22% ($27,000) from the month before. Compared to last year, prices are 24.64% ($245,668) higher, rising two-thirds the pace of the Greater Region. This tells us home prices in the suburbs are moving so fast, City prices are slowing down the whole index…
Toronto: Home Resale Market Conditions (End-of-month-listing-to-sale ratio.)
The above version of the original article by Kaitlin Last was edited [ ] and abridged (…) to provide you with a faster and easier read.
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