House Sales in the GTA Increased by Nearly 25 Percent Compared to A Year Ago, Apartment Prices Falls

The Toronto Regional Real Estate Council (TRREB) said home sales in the GTA area increased by nearly 25% from a year ago.

The November report from the board showed steady home sales in the region with 8,766 homes reported by brokers at GTA. This is up from 7,054 in a year ago.

The median price for homes sold was $ 955,615, up 13.3% from a year ago. The median home price on sale in November 2019 was $ 843,307.

The largest growth was seen in detached single-family homes in the 905 area around Toronto.

Toronto apartment hunters are benefiting from the increased supply. The number of reported apartments for sale is almost double that of November last year. The abundance of options in the apartment market has resulted in a drop in prices in the GTA area.

Apartment prices were down 2% from last November in the GTA district and 3% lower in the City of Toronto.

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