After a comparatively strong summer season, it wasn’t surprising to see sales and prices spike upward in September. After all, that’s part of the normal seasonal pattern. What was surprising was the size of the spike.The average price for all property types in the Greater Toronto Area was more than 20% higher than in September 2015, and higher even than the peak price reached in the spring market earlier this year. The year-over-year trends are instructive: in the first quarter of this year, average prices were about 13% higher than last year; in the second quarter about 16% higher; and in the third quarter 18% higher.
View original article: