What’s driving prices in Toronto? Take your pick. First-time buyers, young families, couples, singles, millennials and foreign buyers are all vying for homes. New provincial government regulations are expected to cool the market, but they aren’t expected to have a lasting impact.
According to the 2017 Spring market Trends Report by Re/Max, demand in the GTA is expected to remain high throughout 2017. While the average residential sale price inches towards $900,000, the average condo price also breached the half million mark this year. Not surprisingly, Re/Max suggests more downsizers are deciding to list their homes and move outside the GTA.
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