Greater Toronto home prices jumped in September as buyers appeared to put an end to a slump that began in the spring with government measures to cool a scorching real-estate market.
The Toronto Real Estate Board (TREB) said the average GTA home sold for $775,546 in September, up 5.9 per cent from August's average of $732,292.
Prices were up 2.6 per cent compared with September last year, but remain 15.8-per-cent lower than they were at the market's peak in April before the downturn began.
House prices continue continue to be out of reach of many homebuyers even if there is moderation in the coming years.
Toronto House: Median price $698,000 Monthly growth 0.43% Stock on market 0.31%
With Toronto’s median house price at $698,000 in Nov , it is high priced compared to the rest of Ontario.
The most frequent scenarios when dealing with houses that don’t sell are: few visitors or no visitors at all, or the opposite case – not receiving a serious offer even thoug
Myth 1: You don’t need to make any sort of repairs before selling your home
Canadians continue to pile on debt and now
It may be a bitter pill to swallow for boomers headed into retirement with only meagre returns on fixed-income investments, but the advice of a leading real estate expert may keep others from following their lead.
“Many Canadians today are having trouble with their retirement strategy and they are worried about outliving their money,” says Bruce Firestone, an investor and broker from Ottawa.
Property prices in Toronto to continue rising says CMHC
Fears that Canada is building far more condominiums than it needs are overblown because of the hundreds of thousands of immigrants who are moving here in increasing numbers, one of Canada's biggest banks says.
