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.

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