Average home prices in the GTA rose by 11% in November 2013 as compared to a year earlier. Median price rose by 10.5%.
The average price of condo apartment was up by 10% in November 2013 compared to a year earlier.
Existing sales were up 10% compared to a year ago but down 10% compared to November 2011.
The graph below shows home sales and average home prices in the GTA (416+905) since 1992.
Median price of detached home in the GTA (416+905) was up 11% in Nov 2013 compared to a year earlier.
Median price of semi-detached home in the GTA was up 8.7%.
Median price of townhouse home in the GTA was up 6.5%.
Median price of condo apartment home in the GTA was up 3.9%.
Below is a graph that shows median prices since 1996.
If Toronto (and Canada) home prices continue to rise at the current rate, I forecast that Flaherty will intervene. What do you think? Leave a comment below!