Toronto’s housing market experienced another month where sales and prices hit record highs, even as COVID-19 cases increased and the Canada Emergency Response Benefit (CERB) wound down.
According to the Toronto Regional Real Estate Board (TRREB) the average selling price of all homes in September was $960,772, up 14% from the same time last year. Sales were also up last month by 15% compared to last year, while average days on market dropped 30.4% to 16.
Pent up demand was once again considered the catalyst for another record month, combined with low interest rates.
The average price of a condo in the city rose to $593,497, up 7% from September last year. In comparison, sales of semi-detached houses were up by 49%, townhouses increased by…