Average House Price in Toronto Hits $500K

John Pasalis in Toronto Real Estate News

Toronto's real estate market quietly hit a big milestone last month.  The average price for a home in the Greater Toronto Area passed the $500K mark for the first time ever reaching $502,508K.

Below is a chart showing the average house price for homes in the GTA over the past eight years.  


The average price for a home in the GTA in January 2004 was $295,989 leaving homeowners who bought then with a very nice profit.

The number of homes available for sale in February was up just 1% over last year.


Record low interest rates are fueling the strong demand we are seeing in Toronto's real estate market.  The number of homes sold was up 12% in February over the same month in the previous year.


The strong demand pushed Toronto's real estate market further into seller's market territory.  The sales-to-inventory ratio increased to 48% last month.  


John Pasalis is the President and Broker-Owner of Realosophy Realty Inc. Brokerage in Toronto. A leader in real estate analytics and pro-consumer advice, Realosophy helps clients buy or sell a home the right way. Email John

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