GTA high rise sales surging year-to-date

Sales of new high rise homes in the Greater Toronto Area have surged in the first two months of this year.

Data from Altus Group shows that year-to-date sales of 5,113, up 67 per cent from a year earlier and 110 per cent above the 10-year average.

Low rise homes were down 23 per cent year-over-year to 2,269 sales in January and February, 4 per cent below the 10-year average.

Overall sales of 7,382 were 23 per cent above the first two months of 2016 and 54 per cent above the 10-year average.