And you thought house prices in Toronto were hot!
Figures just released by the Toronto Real Estate Board reveal that despite Toronto playing host to a record number of $1-million homes, it’s York Region that leads the pack when it comes to the biggest price gains.
The region immediately north of Toronto trumps every other region in the GTA with a whopping 13.95% increase in the price of a condo, semi and townhome over this time last year (September 2014). The price of a detached house shot up 14.73% compared to a year ago.
Toronto actually lags behind its regional neighbours when it comes to price growth. That being said, a single detached home price was still up 10.88% and all housing types were up 8.62%, which is still quite impressive.
Do you own a home in York Region, Toronto, or another hot region in the GTA? With housing prices continuing their climb to unprecedented levels, have you considered selling your home in the near future to cash in on your dwelling’s increased value? With so many industry experts warning of a crash, is now the time to cash out?