Toronto housing prices increase 23 per cent in November vs. last year
Posted December 2, 2016 7:29 am.
Last Updated December 2, 2016 8:04 am.
This article is more than 5 years old.
Housing prices in Toronto increased by 23 per cent in November compared to last year, to an average price of $776,684 for most types of properties, the Toronto Real Estate Board said in a statement today.
The TREB says there were 8,547 sales through its system last month, up 16.5 per cent from November 2015.
The industry association’s home price index was up 20.3 per cent.
Prices in the 416 area code were generally higher than in the 905 area code for surrounding areas served by GTA realtors.
The average price for full-detached house in the 416 area was nearly $1.35 million, up 32.3 per cent from the same time last year while the comparable type of house in the 905 area had an average price of $957,517, up 25.5 per cent.
TREB says a chronic shortage of property listings contributed to higher prices and frustrated some would-be buyers.
