Toronto-area house prices rose by more than 20% in November
Average selling price for all types of housing was $776,684
The Toronto-area real estate market continued to see strong sales volumes and higher prices in November.
The Toronto Real Estate Board says there were 8,547 sales through its system last month, up 16.5 per cent from November 2015.
The average selling price for all types of housing was $776,684, up 22.7 per cent over the same time last year, while the industry association's home price index was up 20.3 per cent.
- Toronto-area home sales, average prices soar in August
- Toronto home prices still hot, but suburbs sizzling even more: Royal LePage report
Prices in the 416 area code, which includes the City of Toronto, were generally higher than in the 905 area code for surrounding areas served by GTA realtors.
The average price for full-detached house in the 416 area was nearly $1.35 million, up 32.3 per cent from the same time last year while the comparable type of house in the 905 area had an average price of $957,517 — up 25.5 per cent.
TREB says a chronic shortage of property listings contributed to higher prices and frustrated some would-be buyers.
Comments
To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.
By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.
Become a CBC Account Holder
Join the conversation Create account
Already have an account?