The average house price in the Toronto area has increased steadily for years now, with the average price having recently eclipsed the $1 million mark.
The Globe and Mail's Robyn Urback recently brought attention to one home in Leslieville, Ontario that sold for a whopping $1,460,000.
"Today in Toronto real estate," she wrote, "Yellow mansion. Fits queen mattress. Sold for $1,460,000.
"Land value/building potential is a thing in Toronto, but here's a semi-detached bungalow with no basement that recently sold for $1,080,000."
Land value/building potential is a thing in Toronto, but here's a semi-detached bungalow with no basement that recently sold for $1,080,000. (Can still build, but man $$$) pic.twitter.com/pLtvvjVIzg
— Robyn Urback (@RobynUrback) March 16, 2021
The two examples reflect a trend that has worried Canadians for years. The Toronto Regional Real State Board recently said that the average home price has surpassed $1 million for the first time, while noting that February home sales reached nearly 11,000—an increase of 52.5 percent jump from the same month in the previous year.
The board predicts that the average selling price in the Greater Toronto Region would exceed $1.025 million.
"It's clear that the historic demand for housing experienced in the second half of last year has carried forward into the first quarter of this year with some similar themes, including the continued popularity of suburban low-rise properties," said TRREB president Lisa Patel in a statement.
"It's also evident that the supply of listings is not keeping up with demand, which could present an even larger problem once population growth picks up following widespread vaccinations later this year and into 2022."
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
