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Toronto real estate board says home sales hit record for August

Summary

Home sales have been surging this summer after they came to a near halt in the spring due to the COVID-19 pandemic


Townhouse sales gained 45.8 per cent and condo apartment sales added 10.9 per cent


There were 10,775 home sales in August, up from 7,682 in the same month a year ago


The Toronto Regional Real Estate Board says home sales in the Greater Toronto Area posted a record for August as they rose 40.3 per cent compared with a year ago and prices shot higher.

Home sales have been surging this summer after they came to a near halt in the spring due to the COVID-19 pandemic.

The real estate board reported 10,775 home sales through its MLS system for August, up from 7,682 in the same month a year ago.

The increase came as sales of detached homes rose 50.6 per cent and semi-detached houses climbed 66.8 per cent.

Townhouse sales gained 45.8 per cent and condo apartment sales added 10.9 per cent.

The average price of a home sold in the region was $951,404, up from $792,134 a year ago.