‘$2-MILLION IS THE NEW $1-MILLION‘ SAYS THE FINANCIAL POST

Data released by the Toronto Real Estate Board on June 4/2014 shows there were 461 detached home sales for more than $2-million through the MLS system in the first five months of 2014. That’s only 2.4% of all detached home sales for the year but the $2-million plus range has climbed 37% over the past year in the GTA.  “What you’re seeing is $2-million is the new $1-million,” says Drew Laszlo, an architect who has been involved in several infill projects that have fallen into the new threshold. – FINANCIAL POST