Toronto Prices Spike Upward in November

Toronto prices set another all-time high in November, with the average price increasing to $776,684, a whopping 23% above last November. The trend was consistent across all GTA regions and all home types; for example, condo apartment prices were up 15% over last year. It seems only yesterday that there was a glut of condo inventory and much talk of an imminent correction in condo prices…While sales were lower than in October (a normal seasonal decline) they were 17% ahead of last year. At the same time, active listings were 36% below last year. As a result the inventory level (sales/active listings) dropped yet again, to just under one month’s supply.

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Toronto Prices Spike Upward in November

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