Once again, the lack of available inventory combined with the strong sales pace continued to translate into aggressive price growth. The average selling price in August was $710,410 – up by an eye-popping 17.7% versus the $603,534 average price in August 2015. All four key market segments witnessed strong annual price gains: detached homes (+21.5%), semi-detached homes (+17.6%), townhouses (+17.7%) and condo apartments (+9.8%).

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