The fall weather isn’t cooling down the Toronto real estate housing market, as prices climbed back up to record-breaking highs in October.
It was the second-best October on record, with prices continuing to soar as buyers chase the decreasing housing inventory.
According to a new report from TRREB, the average selling price for a detached home last month was more expensive than ever at $1,784,979. Almost 9,800 homes were sold, just shy of the record of 10,503 set October 2020.
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Price relief is unlikely for potential homebuyers, though many are still benefiting from lower interest rates that were introduced to ease the impacts of the pandemic on the economy.
“The only sustainable way to address…