Homelife Silvercity / Harwinder Garcha
50 Cottrelle blvd l6y Brampton, ON, Canada

Single-family homes, particularly in the 905 areas around Toronto, continued to drive the housing market in November, injecting competition into even the most affordable parts of the region. In Durham Region, traditionally among the most affordable parts of the Greater Toronto Area, the average price of a single-family home was up 20 per cent compared to the same month last year, said the Toronto Regional Real Estate Board (TRREB) on Thursday. Detached house prices, which ros...e 15.2 per cent to an average of $1.2 million in the GTA, saw a 19.2 per cent gain in the 905 communities surrounding the city and an 8.7 per cent increase in the city of Toronto to an average of $1.48 million. Sales of detached houses jumped 30 per cent across the GTA: 33.6 per cent in the 905 areas and 19.3 per cent in the city. Across the GTA, the aggregate average selling price for detached, semi-detached, town homes and condos climbed 13.3 per cent year over year to $955,615 last month, a $110,000 annual increase. Home sales jumped 24.3 per cent annually across the region with 8,766 transactions last month. As lockdown-weary consumers went searching for space, the real estate board noted that low interest rates likely helped make single-family homes more affordable.

Forecast for home prices

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