SOME EXTREMELY HOT NUMBERS FROM TORONTO’S SOARING REAL ESTATE MARKET IN OCTOBER

realestate2Despite the federal government’s attempt to cool things down, it seems TORONTO’s real estate buyers and sellers aren’t getting the message. In October, sales in the GTA hit a record high and prices went up by double-digits.

The Toronto Real Estate Board says there were 9,768 sales in the Greater Toronto Area (GTA) — up 11.5% from the same month last year. The average selling price for all types of homes rose by 21.1% to $762,975. “A 21.1% year-over-year rise is not normal,” according to BMO Nesbitt Burns.  <PHOTO – Postmedia News>

realestate1IMAGE – http://www.betterdwelling.com

Sales of $3-million-plus homes were up 86% in the TORONTO area; 41% in VANCOUVER. In OAKVILLE, an affluent suburb west of the GTA, sales of $1 million-plus homes increased by 111% year-over-year, driven by price appreciation and increased interest from foreign buyers.

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