Toronto housing market heats up
The Greater Toronto Area's housing market saw an early spring sales surge last month, in the latest sign of sharp divergence between the country's two most-scrutinized real estate hubs. Sales across the GTA rose 16.8 per cent year-over-year in April as 9,042 properties traded hands, according to data released by the Toronto Real Estate Board (TREB) Monday. Selling activity picked up across all property types, with detached home sales rising at the fastest rate (21.9 per cent). The average selling price across the GTA for those detached properties slipped in April, while the average selling price for all properties inched up 1.9 per cent year-over-year to $820,148. The sales spike in Toronto stands in stark contrast to the Greater Vancouver Area’s housing market, where sales tumbled 29.1 per cent year-over-year last month.
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