Average home price in GTA hits $1.1 mil in August amid lowest supply in years

According to the latest TRREB report, only 8,596 houses changed hands in August which is 19.9% lower than last year. Listing dropped by a whopping 43%.

Average price in GTA is now $1,070,911 – 12.5% higher than year ago.

Despite numerous promises from party leader during election campaign TRREB doesn’t expect supply to improve drastically in the foreseeable future because GTA will gradually opens up for new residents.