Home sales in Toronto set new all time record

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With the average price of detached home in Toronto soaring above the $1 million mark, it's no surprise the real estate market is smashing records this year.

As the Toronto Star reports today, we haven't even reached the end of the year yet, but the GTA has already hit an annual sales record. By the end of November 2015, home sales in GTA totalled 96,401. The previous record of 93,193 was set, as the Star notes, in pre-recession 2007.

Despite these number, the Star writes that the number of listings for detached homes in November was down more than 8 per cent year over year. Yet, sales remain strong for detached and semi-detached homes as well as condos and townhouses.

Are you surprised about the record home sales? Let us know in the comments.

Photo by Laura Tuttle in the blogTO Flickr pool.

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