Demand outstripping supply in GTA

Toronto, ON

The Greater Toronto Area (GTA) as a whole continues to show strong annual rates of sales growth across all major home types with the year-over-year median sale price up 20.4% to $755,755 from $627,867 in September 2015. Underpinning this continued upward momentum has been a strong demand for home ownership combined with a short supply of listings. A sustained lack of inventory is representative of many neighbourhoods across the GTA which has led to the average re-sale in the region being on the market for just 16 days compared to 22 days one year ago.