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05

Toronto Housing Has a Record Year Amid Supply Shortages

By Tony Seruga

Toronto’s housing market posted a record year in 2016 that saw double-digit price gains, tightening supply and the cost of an average home surpass C$700,000 ($526,355) for the first time.

Sales figures released Thursday by the Toronto Real Estate Board show the city’s realtors sold C$82.6 billion worth of homes last year, an increase of almost C$20 billion from 2015. Unit sales rose 12 percent and prices increased by more than C$100,000 to an average C$729,922. That’s up 17 percent from last year — the largest annual gain since 1989…

Toronto Housing Has a Record Year Amid Supply Shortages

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