Average price of Toronto home expected to increase by $100K this year

The Toronto real estate market just keeps rolling like a runaway train. Coming off a record-setting 2016, more of the same is in store this year.

According to the Toronto Real Estate Board (TREB), the average price of a Toronto home is expected to increase from approximately $730,000 to $825,000 over the course of 2017. The rate of increase could be even higher for detached homes, for which supply is extremely low.

TREB also forecasts that the number of homes sold this year will be between 104,500 and 115,500, which is around the same as 2016 (113,133). This number would be much higher if inventory wasn't at its lowest point since 2000, which curbs sales based on availability.