toronto home prices

Toronto home prices break new records in September

For many, the possibility of owning a home in Toronto is a pipe dream as the city's real estate market continues to steamroll forward. In September, the average price for a detached house hit $1,053,871, according to the Toronto Real Estate Board. As the Financial Post reported this morning, this is a 10.7 per cent increase since last year.

This isn't all that surprising considering we hit the $1 million mark back in March. But, as the Globe and Mail notes, these prices will continue to climb for the remainder of this year and into 2016. That's likely because there are fewer listings available in comparison to last year. Although, this supply is starting to grow.

Real estate in other parts of the GTA is also soaring. In York Region, the average price for a detached home is up 14.7 per cent in comparison to September 2014. While a detached home may be out of reach for many, there's still condos and townhouses, which are comparably much more affordable.


Join the conversation Load comments

Latest in City

10 notable businesses that closed in Toronto last month

Toronto neighbourhood could be totally transformed over the next decades

This is what the inside of the expanded Robarts Library at U of T will look like

One of Toronto's most confusing intersections just got a smart makeover

Toronto is closing down the DVP this weekend

What's open and closed on the August civic holiday 2021 in Toronto

Controversial weed shops in Toronto are still open despite not having a licence

There are now calls for Ontario to close its borders to people living in Alberta