The postponed spring housing market has now extended its run well into the fall, with home sales in Toronto and Vancouver up 25% and 29%, respectfully, compared to a year ago.

The high demand is continuing to put pressure on prices as well. The average selling price for all home types in Toronto rose 13.7% to $968,318, according to the Toronto Regional Real Estate Board (TRREB). However, there was a divergence between market segments, with detached home prices rising 14.8% to $1.204 million, while average condo prices were up just 0.7% to $622,122.

In Vancouver, the MLS Home Price Index composite benchmark price for all property types rose 6% to $1.045 million, according to the Real Estate Board of Greater Vancouver (REBGV).