OMG! Did Toronto Home Prices Just Breach C$1 Mn-Mark? | CA Market Updates

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Average home prices in Greater Toronto Area (GTA) topped over C$1 million in February 2021, as per Toronto Regional Real Estate Board (TRREB) data on Wednesday. This is a 14.9% year-over-year surge.

The price rise was led by historic home sales, which shot up by 52.5 per cent YoY last month, as per data from GTA REALTORS®.

Housing demand really took off in the second half of 2020 and has continued to soar this year as buyers, confident of their job security, utilized the ultra-low mortgages interests.
The housing board is now warning that the already-hot home market will hit new levels in 2021.

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