TORONTO -- The Toronto Regional Real Estate Board says home sales in the Greater Toronto Area posted a record for August as they rose 40.3 per cent compared with a year ago and prices shot higher.
Home sales have been surging this summer after they came to a near halt in the spring due to the COVID-19 pandemic.
The real estate board reported 10,775 home sales through its MLS system for August, up from 7,682 in the same month a year ago.
The increase came as sales of detached homes rose 50.6 per cent and semi-detached houses climbed 66.8 per cent.
Townhouse sales gained 45.8 per cent and condo apartment sales added 10.9 per cent.
The average price of a home sold in the region was $951,404, up from $792,134 a year ago.
This report by The Canadian Press was first published Sept. 3, 2020.
