The Financial Post reported today that existing home sales in the GTA rose 30% in September.

Sales through MLS accounted for 7,411 home sales up from 5,687 a year ago.

“It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable”, said Dianne Usher, president of The Toronto Real Estate Board in a statement.

Jason Mercer, TREB’s senior manager of market analysis commented, “The price growth story in September continued to be about strong demand for low-rise home types, coupled with a short supply of listings.”

Over the first nine months of this year, the average selling price jumped 4% from 2012 to $520,118.

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