Home sales continue to rise in Canada, according to the latest monthly report by The Canadian Real Estate Association. Existing real estate purchases rose 2.7 per cent in September compared with August and up 11 per cent year to year. While sales slowed in other parts of the country – Canada’s largest metropolitan area experienced the most dramatic increase.
The number of resale homes sold in Toronto in September rose more than 20 percent over the same time last year. The average price of a home sold in Canada also rose 6.5 per cent to $352,600 since September of 2010. The average price in Toronto is much higher at approximately $460,000.
Though the price of homes isn’t deterring people in Toronto from buying homes – demand is outpacing supply. To help you decide where to buy a house, Toronto Life magazine is releasing their annual real estate issue on Thursday and in it, they list the top 10 neighbourhoods in Toronto.
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