Oil prices may be wreaking havoc on real estate in Alberta’s two biggest cities, but Toronto’s market is still humming.
January sales figures released by the Toronto Real Estate Board (TREB) on Wednesday show sales and prices growing throughout the Greater Toronto Area (GTA) in January, compared to the previous year.
The GTA saw 4,355 sales last month, compared to 4,103 last year (a jump of six per cent), with the average price rising from $526,965 to $552,575.
The City of Toronto (referenced as the “416” area code) accounted for 1,561 of those sales, while the rest of the region (shown as the “905” area code) saw 2,794 homes sold.
New listings in the GTA also grew 9.5 per cent year-over-year, from 8,762 to 9,596.
TREB president Paul Etherington said in a news release that the figures show positive news on a number of fronts.