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Windsor tops Royal LePage housing survey in percentage increase
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TORONTO A Toronto townhouse on a busy street that drew multiple offers and sold for $420,000 above asking is a sign there is still plenty of heat left in the city’s red-hot market. But even as sellers are celebrating, there are warnings that the true costs of the high prices will be borne by local businesses facing labour shortages and a generation unable to own their homes. The property was a very good product. We’re lucky to have this property, selling realtor Teuta Guci told CTV News Toronto. The three-bedroom townhouse, on Coxwell Avenue north of Michael Garron Hospital, attracted four bids and ended up selling for $1.52 million dollars, or almost 40 per cent over the asking price.
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The increase compares to 27.1 per cent growth nationally in detached home prices during the second quarter of 2020 compared to the second quarter of 2021 and a 28.2 per cent increase in the Greater Toronto Area.
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Kingston, where sale prices rose 46.2 per cent and London, at 41.8 per cent, followed closely behind Windsor-Essex County.
Windsor is really coming of age
The Royal LePage House Price Survey, which compared 62 of the nation’s largest real estate markets, notes the median price locally of a detached home jumped to $548,000 in the second quarter of 2021. The median price during the same time period in 2020 was $366,750.