Don’t Trust All The Headlines…Toronto home prices still on the rise!

September 11,2012-The average sale price is up- almost 6.5% from this time last year. Prices of single detached homes in Toronto have increased another 15%! The number of sales, however, in the Toronto core are down almost 12.5% from August 2011, mainly due to high pricetags combined with new borrowing rules by lenders, plus the double whammy of the Toronto Land Transfer Tax. The MLS Home Price Index shows that condominium prices have shown a modest increase of 2.3% in the last year. Read the full details in TREB’s August 2012 Market Watch Report, which was just released.

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