After coming to a near halt in the spring due to COVID19, Toronto home sales have surged this summer hitting another record high last month.
According to TRREB, the average selling price of a home in the GTA rose 20% year-over-year in August to $951,404, up $7,738 from July’s average. The average selling price for a home in the city was $1,012,506, up a whopping 24% from the year before.
Average home sales weren’t the only thing to experience a boost in August. The number of transactions also soared to a record 10,775 sales, marking a 40.3% year-over-year increase in the GTA.
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This was the result of pent up demand after the pandemic stalled the market in spring. Homebuyers and sellers are playing…