This Week in Real Estate: August 26th – September 1st

This week in real estate: The average price for a GTA home dips below the $1 million mark, an analysis of Canada’s new real estate trend, and a look inside a French Chateau…on the Bridle Path.

Average GTA house now back below $1 million.

What goes up must come down, the saying goes. But in Toronto’s housing market, it may not come down enough to satisfy strained homebuyers.With a real estate slowdown gripping the city, Greater Toronto’s average house price has fallen back below $1 million.

The average price of a detached home in Toronto and its suburbs fell to $974,212 in the first two weeks of August, according to data from the city’s real estate board, obtained and published by the Financial Post on Monday. Via Huffington Post. Click for the full article.

Rent in the city, own in small towns: Canada’s new real estate trend.

With prices sky-high in some of Canada’s largest cities and real estate markets softening across the country, many city dwellers are choosing to rent the home where they live and buy properties — especially in smaller towns — as an investment. Via Globe and Mail. Click for the full article.

Inside the priciest mansion on Toronto’s real estate market.

For $35 million, a French chateau could be yours. The four-acre Bridle Path property, with more than 30,000 square feet of living area, is the most expensive MLS Toronto listing as of Wednesday. Behind the gates is a home with 10 bedrooms and 14 bathrooms (including his and hers), a state-of-the-art gourmet kitchen, and an indoor 50-foot swimming pool, which features a structural floor that converts to a ballroom. Via Huffington Post. Click for the full article.

Header image via Globe and Mail.

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