According to recent figures from RE/MAX, year-to-date uber-luxury home sales in the GTA have exceeded 2018 levels. As of the end of October, there were 102 home sales above $5 million, which is 8.5% higher than the same period a year ago.
According to the Canadian Real Estate Association, home sales reported through national MLS systems in September 2019 increased 15.5% year-over-year, and came in 18% above the six-year low hit in February 2019.
The Greater Toronto Area’s resale condo market is going strong according to the latest quarterly findings from the Toronto Real Estate Board, but there are some areas where average prices are falling.
According to the survey results, newcomers account for 21% of all homebuyers in Canada. If the international migration level remains the same, newcomers are expected to buy 680,000 homes in Canada over the next five years.