In some incredible news for us hopeful Toronto millennials, we just might be able to buy a house in the city before we die.
The latest numbers released today about the state of our real estate market show that prices of detached homes have dropped by 19 percent since March.
That means the average price of a detached home has fallen below the $1 million mark, finally rendering them something more than a mirage in the desert.
According to data released by the Toronto Real Estate Board, the average price of a detached home in the GTA fell to $974,212 during the first two weeks of August. That's down from $1,000,336 at the end of July.
Now all that's required to own the house of your dreams is a 20 percent down payment, a whole liver (no halfsies), both kidneys and your first born. What a steal!
So treat yourself to a Victorian in Parkdale or a manor in The Annex. You deserve it.
by Lisa Power via blogTO