It's the tale of two cities and housing markets, with sales going in the opposite direction in Vancouver and Toronto.
The Toronto Real Estate Board is out with numbers from the month of September.
Sales were up by 21.5 per cent year over year, and the average selling price of all home types was up by 20.4 per cent. Yesterday, we learned that sales in Vancouver were down by 33 per cent.
It has now been two months since Vancouver introduced a foreign buyers tax, but Jason Mercer with TREB says they can't yet link the trends in the two regions of the country.
"We can't specifically say what number of those deals (in Toronto) may or may not have involved a foreign buyer," Mercer says.
The board will be surveying its members over the next month to get a better sense of what their buyer profiles have looked like over the past year.
"The hope is that we'll have better information on that as we move through November."
Mercer says the GTA is 12,000 sales away from reaching last year's record numbers. The region reached almost 10,000 sales in September alone.
"We remain on pace for a record number of deals in 2016."
But he adds that new mortgage rules announced by the federal government on Monday could slow things down.
"Some buyers could decide to take a bit of a step back," Mercer says. "Or they could decide to look at different home types... in order to account for those new rules."