TORONTO, Oct. 27, 2015 /CNW/ – Homebuying activity in the top end of the Greater Toronto Area’s (GTA) exceptionally robust real estate market has taken a definite turn in 2015 as affluent purchasers look to York Region to maximize value, according to luxury realtor Barry Cohen.
The trend explains the recent surge in average price in York Region, where demand for two-storey homes built prior to 2000 in well-established neighbourhoods north of Steeles Ave., has soared. Of the estimated 400 older homes sold in the Greater Toronto Areaover the $2 million price point in the first six months of 2015, 22 per cent (90) were located in York Region — up significantly over the 11 per cent (30/265) of the market they represented during the same period in 2014.
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