The year has got off to strong start in the Greater Toronto Area according to data from GTA Realtors.
The year has got off to strong start in the Greater Toronto Area according to data from GTA Realtors. It reports that there were 4,355 home sales through the MLS system in January, a 6.1 per cent increase year-over-year. New listings over the year have increased by 9.5 per cent and the average selling price was up by 4.9 per cent to $552,575. The Toronto Real Estate Board predicts that prices will continue to rise this year but will be mitigated by lower borrowing costs. Director of Analysis Jason Mercer says: The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and town houses. However, robust end-user demand for condo apartments will result in above-inflation price growth in the high-rise segment as well.”
