The latest data from the Toronto Regional Real Estate Board shows that home sales reached a record for the month of November and the average selling price also reached an all-time high.
Number of sales in York Region reached 1,583 in November, which is up 36.1 per cent from the same time last year.
Xia analyzed and pointed out that COVID-19 hit the hotel and retail industries hard, which investors used to be enthusiastic about.
“More transit options and hybrid work schedules have made relocation to the city’s outlying areas more attractive,” said Christopher Alexander, senior vice-president of Re/Max.
Vacation properties are getting more valuable and popular, especially for families who work remotely and have children at home.
Re/Max looked at over 5,000 individual freehold transactions in the GTA between March 2019 and March 2021.