The number of available properties for sale hit record-low levels in December across Canada’s largest housing markets, causing home prices to remain at or near their all-time highs.
A new TRREB report shows 6,031 sales for the month of December - historically strong results, but still down more than 1,000 transactions compared to the record of 7,154 set in December
2020.
The average home price in Toronto reached $1,157,849 for all home types, representing a 24.2% year-over-year increase. Detached homes lead the way at an average price of $1,568,583, followed by semi-detached homes, townhomes, and then condos.
Despite continuing waves of COVID-19, demand for housing ownership sustained a record pace in 2021. Growth in many sectors of the…