Grand central mimico . Is the Canadian real estate market picking up? Sales of all types of properties in the largest housing market soared, while the apartment market showed signs of picking up.Please Visit: Grand central mimico to Get Your VVIP Registration Today!
Home sales in the greater Toronto area reached 7180 last month, up 64.5 per cent from a year earlier, according to data released on Wednesday by (TRREB), the Toronto regional real estate bureau. The average selling price was $932, 222, an increase of 11.2% over the same period last year.
Of all types of housing, single-family homes are the most popular, with the average selling price rising 17.7 per cent year-on-year to $1.24 million and sales surging 54.6 per cent.
Meanwhile, after three consecutive months of deceleration, the apartment market in the greater Toronto area showed signs of picking up: sales surged 75.4 per cent year-on-year to 2193 units, up slightly from November.
However, apartment prices, especially in Toronto, remain depressed, with the average selling price down 4.7% from December 2019.
Jason Mercer, chief market analyst at TRREB, said that despite the strong rebound in the housing market in 2020, the single-family housing and apartment markets were deeply divided. The continuous shortage of single-family housing supply has led to fierce competition among home buyers, resulting in a double-digit rise in house prices. By contrast, the number of apartment listings is growing much faster than sales.
