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Toronto Real Estate Remains a Red Hot Commodity
The Toronto residential real estate maintained its record pace in September, as sales hit a record number of transactions and prices continued to climb unabated. Thanks to near record low interest rates and an improving economy, real estate in the Greater Toronto Area will continue to be seen as an excellent long-term investment.
Toronto Real Estate on Record Pace
Real estate prices and sales across the entire Greater Toronto Area remain very strong, with transactions hitting a record high in September and prices climbing a staggering 9.2% year-over-year.
Specifically, real estate sales were up 2.5% in September at 8,200, putting the city on track for a record in 2015. Sales through the first nine months of the year were up 9.5% at a record 80,331. It is widely expected that Toronto sales will be near or at the 100,000 mark for the first time.
