Toronto Housing Market Stats for November 2013

The Toronto housing bubble keeps on inflating!

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.

 

Detached home prices were up by 15% compared to a year ago. Though prices were only up 10% compared to November 2011. Looks like prices are playing catch-up.

 

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!