Toronto Skyline from Queen West featuring the Shangri-la and Trump Tower.
The average selling price in the Greater Toronto Area in the first two weeks of May was $543,838, according to the Toronto Real Estate Board. Compared with $516,089 in May of 2012. Sales in the first two weeks of May dropped 9.7 per cent compared with the same period last year.
Mr. Guatieri points out that people who are keen to buy in the spring have to compete for relatively scarce detached houses available. “As we get into the spring market, we tend to see stronger demand and perhaps that is lifting prices.”
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