GTA housing sales up 24.3%, tight supply pushes prices up

Canadian Press reports that the Toronto Real Estate Board GTA home price index was up 4.4 percent in July as the supply of properties for sale tightened and the number of sales jumped 24.3 percent from July last year. The TREB said Tuesday the overall average selling price for properties in the Greater Toronto Area was up 3.2 percent year-over-year to $806,755. The number of properties sold increased to 8,595 from 6,916, with sales of all four categories of housing up by double digits.