Toronto home prices and sales continued to hit records in September as pent-up demand and historic low borrowing costs pushed prices up 14 per cent to $960,772 across all housing types, including condos.
The number of transactions also soared 42.3 per cent year over year, said the Toronto Regional Real Estate Board (TRREB) on Tuesday.
It reported the biggest gains in the 905 areas surrounding the city, with single-family homes leading the growth.
Detached houses were the region’s hottest selling properties, going for 12.9 per cent more compared to last September at an average of nearly $1.2 million.
The 905 communities saw a 63.6 per cent increase in the number of detached home sales and a 16.9 per cent gain in the average selling price to over $1.1 million. Detached houses in the city of Toronto sold for about $1.5 million on average — 9.4 per cent more year over