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  TORONTO, October 3 , 2014. In July , home sales reported by Greater Toronto Area REALTORS® were up by 10.9 % compared to the same period last year. On a year - to - date basis through the first three quarters of the year, sales were up by 6.9 %. The average selling price up by 7.7% .

Average price by major home type in September 2014.
  416 905
Detached $951,8 $736,3
Semi-Detached $689,4 $539,1
Townhouse $476,4 $425,5

Toronto is on track to see a record number of house sales this year as demand — and prices — continue to climb beyond almost anyone’s expectations, even for condos.

  Saving for a Down Payment
The prime real estate season will start in in only 6 month and is a good idea to start saving now. It can be as simple as managing your budget differently.
  • Start with a goal—One of the best ways to save is to have a goal. It will keep you motivated and give you something to work towards. For example, you may choose to save a 10% deposit plus expenses (usually 5%) for your first home. But the more you can save, the better off you’ll be. Find out how much you need to put aside in order to reach your savings goal..
  • Create a budget—Write down how much money you bring home each month; write down the payment amounts for each of your monthly bills; subtract your expenses from your income to determine how much extra money you have each month.
  • Develop a culture of saving—Your first priority should be developing a culture of saving. This not only helps you in budgeting and planning for the future, but also satisfies banks and other lending institutions that you have a clear commitment to save.
    When you go shopping, ask yourself if you really need the item you are thinking of buying. If you don't need it, don't buy it. Put the money into your savings account instead. Remember that small amounts of money can add up to large sums over time.
  Top 10 things modern homebuyers want

  • Energy efficiency
  • Storage - and plenty of it
  • The latest technology
  • Top notch security
  • Open plan living
  • A modern kitchen
  • Entertainment options
  • A dedicated laundry room
  • Smaller homes in general
  • Location, location and location