Langstaff Gateway Condos for sale. The housing market in Toronto is hot. The latest figures from the Toronto Real Estate Bureau show that the housing market in the Greater Toronto area continued to boom in October, with home sales and the number of newly listed homes hitting record highs and house prices rising by double digits. Please Visit: the inner chain to Get Your VVIP Registration Today of the real estate page!
According to a report released by the property Bureau on November 4, 10563 houses were sold in most areas through the multiple listing system (MLS) in October, up from 8445 in the same period last year and up 25.1 per cent from a year earlier. This is the fourth consecutive month of growth in housing sales in most districts.
The report shows that sales of detached houses in most districts have far outpaced the growth of newly listed houses, but in the apartment market, the number of newly listed apartments has more than doubled from a year earlier, while sales have risen by only 2.2 per cent.
Lisa Patel, president of the real estate bureau, said competition between buyers of single-family homes, especially detached homes, still exists. Detached houses are popular in many societies in many districts in October, with house prices rising by double digits. Apartment buyers, by contrast, have more choices than they did a year ago. The epidemic halted economic growth, halted tourism and affected the cash flow of [apartment] investors.
According to the report, the HPI composite benchmark index rose 10.8 percent in October from a year earlier, and the average selling price of all housing types was 968,318 yuan, up from 850000 1877 yuan in the same period last year and up 13.7 percent from a year earlier.
In the city of Toronto, the average house price in October was 1,025,925 yuan, up from 920000 5148 yuan in the same period last year. In the suburbs outside Toronto, the average house price in October was 939,600 yuan, up from 800000 5278 yuan in the same period last year.
Sales of independent houses in Toronto rose 19.6% year-on-year, the average house price rose 11.2% year-on-year to 1.47857 yuan, the sales of independent houses in the suburbs rose 39% year-on-year, and the average house price rose 18% to 1.12 million 3886 yuan.
The average house price of apartments in Toronto was 660000 8161 yuan, up 0.8% from the same period last year, while that of suburban apartments was 540000 1582 yuan, up 6.8% from the same period last year.