According to the latest report from the Building Industry and Land Development Association, demand for new homes is high, while the supply on the market is low.
In fact, BILD says the number of new homes on the market in the Greater Toronto Area is at its lowest level in a decade.
Sales were up 7 percent in April, compared to the same time last year.
The average price of a brand-new house or condo shot up a whopping 40 percent, to $1,212,297.
This comes on the heels of the provincial government announcing a 15 percent tax on real estate sales to foreign buyers.