The Toronto Real Estate Board announced at 29% increase in home sales over year across the GTA as of mid-September.

In addition to skyrocketing sales, prices increased four per cent with the average residential home in the GTA now costing some $514,560.

“The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence,” said Dianee Usher, TREB presiden.

Sales and prices could be spurred on by recent increases in fixed-rate mortgages and buyers eager to get into the market before their mortgage pre-approvals expire.

Townhomes and condos lead the way. Townhome sales climbed almost 30 per cent, while condo sales were up 36% over last year.

Are you ready to make a purchase? Experience the advantage of having a mortgage broker working for you. Give me a call 705.737.6161 to discuss your needs. I can help people who have trouble qualifying with the banks find a competitve mortgage rate.

TREB President as quoted in The Toronto Star