Toronto house prices soar to new record

Welcome to Toronto, a place where many of us can only dream of one day buying a detached a house within (or even near) the city limits. According to a new reports from the Toronto Real Estate Board the average price for home in the Toronto area is now $755,755, up 20.4 per cent since last year.

But if you're looking at detached houses, the average sale price rose 23 per cent since last year, which means the number's now sitting at a whopping $1.29 million, way over the one million dollar mark.

The average price for a Toronto condo, however, is $446,729, or up 6.5 per cent since last year.

And it's not just Toronto that's experiencing growth. Housing prices in the areas surrounding the city are continuing to soar too.

Photo by Houssmax.

by Staff via blogTO