08:01
The $1 million hurdle – at least that’s how I look at it as a resident of the Toronto ‘burbs (the 905) who harbours a not-so-secret desire to live in the city again.
For the first time, the average selling price of a Toronto (416 area code) detached home has pushed above $1 million.
The Toronto Real Estate Board says the 416 average detached price rose 8.9 percent year-over-year to hit $1.04 million in February. Supply is tight when it comes to detached homes in the city, and demand is high. Sales are up some 17 percent year over year.
Read full story: Real Estate Watch: Detached home price surges above $1M in Toronto
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