The Toronto housing market saw year-over-year price increases across all housing types in the fourth quarter of 2009 according to a recent survey by Royal LePage.
Again of particular interest is the increase in sales of higher priced units that were hit hard by the recession over the previous 12 months.
First time home buyers depleted the inventory of entry-level units in a surge of buying in 2009. Royal LePage expects move-up, executive and luxury buyer to buy this year resulting in even more price appreciation.
House Price averages in the fourth quarter 2009 across Canada:
Detached bungalows $315,055 (up 6%)
Standard two-storey homes $353,026 (up 5.2%)
Standard condominiums $205,756 (up 6.4%)
Toronto House Price averages annual change:
Detached bungalows $446,214 (up 9.9%)
Standard Two Storey: $564,175 (up 3.5%)
Standard Condominium $309,316 (up 2.9%)
A complete database of over 250 neighbourhoods in Canada is available on the Royal LePage website.
