16 May 2014
The average price for a home sold in the first two weeks of May was $590,132 – it’s 8.9% higher than $542,074 reported during the same period last year.
The highest price increase was for detached homes in the City of Toronto: here the demand remained strong, while the supply was too restrained. And though the condominium market was still well-supplied, there was enough demand to cause a solid price growth. Such an increase was mainly possible amid low borrowing costs and good affordability.