The latest real estate numbers for the GTA show a stark increase from last year.
More than 10,000 transactions occurred through the multiple listing service that was up nearly 20 per cent year-over-year.
Prices rose nearly 10 per cent as well, with very little inventory out there.
Richard Silver, president of the Toronto Real Estate Board, said this could be because of the shortage of listings.
"We still have a shortage of listings in the marketplace and that causes the prices to go up," Silver explained.
The average price in the GTA in April rose to almost $518,000, up 8.5 per cent from the same period last year.
In the 416 area, the average price is approaching $570,000.
Source: http://www.680news.com/business/article/358822--real-estate-numbers-up-in-the-gta
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