“Home prices rise against tighter supply in August” via The Star

August appears to have cemented the Toronto region’s real estate recovery, with average resale home prices up 4.7 per cent year over year to $765,270, including single-family homes and highrise apartments. That is about $34,000 higher than the average a year ago.

There were also about 500 more transactions — an 8.5 per cent increase — compared to August 2017.

The number of detached-house sales increased 19.2 per cent in the 905 areas outside of Toronto to $907,780 on average. Detached homes also saw a 12.3 per cent jump in sales in the City of Toronto, where they sold for $1.24 million on average.

The average Toronto-area resale condo price also rose 6.4 per cent to $541,106. The number of sales, however, remained flat overall, increasing 0.7 per cent year over year in August.

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