The Toronto real estate market has remained hot despite the Bank of Canada’s aggressive interest rate hikes over the past year.
, it showed dollar volume for home purchases was up in 22 Toronto neighbourhoods compared to a decrease in just 12.
The largest dollar volume increase for a home was in the Parkwoods, Don Mills and Victoria Village neighbourhoods, where volumes climbed by 199 per cent in May compared to the same time last year, the data revealed. Whereas in Scarborough, dollar volume increased by the slowest amount at one per cent, however home sales were down to 47 compared to 54 last May, it showed. Dollar volume for condominiums was up in 23 Toronto neighbourhoods in comparison to a decline in only six neighborhoods.
The greatest increase in dollar volume for condos was in the region of York Mills, the Bridle Path, and Hoggs Hollow, which gained by 169 per cent, the data showed.
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