\n
Author of the article:<\/p>\n
Barbara Shecter<\/span> <\/div><\/div>\n<\/picture>The average selling price for all home types combined in Torotono was up by 18.3 per cent year-over-year to $1,136,280.<\/span> Photo by Tyler Anderson\/National Post<\/span> <\/figcaption><\/figure>\n<\/header>\n\nArticle content<\/h2>\n Home prices continued to climb in the hot Toronto area residential real estate market in September, hitting the third-highest mark on record for the month, according to data released Tuesday by the Toronto Regional Real Estate Board.<\/p>\n<\/section>\n
\n
\nAdvertisement<\/h2>\n\n
\n
\n
\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n The average selling price for all home types combined was up by 18.3 per cent year-over-year to $1,136,280.<\/p>\n
The board and other real estate organizations are calling on government to take stronger measures to address supply shortages to help take the wind out of red-hot prices that are keeping many out of the market and could hurt the economy in the longer term.<\/p>\n
The average selling price in the Greater Toronto Area was up both month-over-month and year-over-year, though the number of sales was down 18 per cent from September 2020\u2019s record result.<\/p>\n
Greater Toronto Area realtors reported 9,046 sales as market conditions tightened, with a significantly lower number of listings \u2014 down 34 per cent from the same time last year \u2014 and sales representing a substantially higher share of listings.<\/p>\n<\/section>\n
\n
\nAdvertisement<\/h2>\n\n
\n
\n
\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n\nThis is not an issue that can be solved by one level of government alone<\/p>\n
Kevin Crigger, TRREB\u2019s president<\/p>\n<\/blockquote>\n
The period included a resurgence in the condo market, which contributed to sales representing a greater share of listings, TRREB said.<\/p>\n
\u201cDemand has remained incredibly robust throughout September with many qualified buyers who would buy a home tomorrow provided they could find a suitable property,\u201d the real estate board said in a news release Tuesday morning.<\/p>\n
\u201cWith new listings in September down by one third compared to last year, purchasing a home for many is easier said than done.\u201d<\/p>\n
TRREB said the lack of housing supply has reached a critical juncture, adding that \u201cbandaid policies to artificially suppress demand have not been effective.\u201d<\/p>\n
The real estate board called on all three levels of government to create stronger policies to address a shortage of new housing supply.<\/p>\n<\/section>\n
\n
\nAdvertisement<\/h2>\n\n
\n
\n
\n
This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n\nArticle content<\/h2>\n \u201cThis is not an issue that can be solved by one level of government alone,\u201d said Kevin Crigger, TRREB\u2019s president.<\/p>\n
\u201cThere needs to be collaboration federally, provincially, and locally on a solution.\u201d<\/p>\n
\n
\n
\n
We apologize, but this video has failed to load.<\/p>\n<\/p><\/div><\/div>\n