Toronto’s house price hit another record breaking high level in February. The average price for a detached home hit an amount of about $1.57 million. This is an increase of about 29.8 per cent within just one year.
The average price for a house in the suburbs is about $1 million. The suburbs have finally joined the $1 million club. The average price for a single family home hit $1.1 million in February. A report from the Toronto’s Real Estate Board calculated a percentage increase of about 35.4 per cent in just a year.
The price for housing in the Greater Toronto Area has surpassed the price of housing in New York’s metro area.
The prices of housing and property in other Canadian cities cannot be compared with that of Toronto’s. Toronto’s price growth is increasing faster than any other city in the country.
Toronto’s average housing price can buy you a single family house with three bedrooms, two bathrooms, two parking spots and air conditioning. This single family house costs about $1,499,000.
In the city of Montreal, Toronto’s average housing price can get you a famous house in the suburbs of an old Montreal Town. It’s amazing how the average price for a house in Toronto can get you a well-known Mansion in a peaceful town in the city of Montreal.
In the suburbs of Halifax, you can literally get a palace for Toronto’s average house price. You can get a mansion with eight bedrooms, nine baths, a sauna, gym, 3D cinema and so many other additions. The mansion could be about 11,000 square feet with a master bedroom of about 900 square feet. 900 square feet is how large the average condo in Toronto is. All this for a price of about $1.5 million.