The average price of a home in the GTA has climbed to over $503,000. According to the Greater Toronto Area Realtors, the September resale figure is 8.5 percent higher than the same month last year. The agency gave credit for the boost to lower inventory in the low-rise market. Meanwhile, experts predict price growth will continue to be strong through 2013, barring any unforeseen major economic changes. Meanwhile, the Royal LePage House Price Survey suggests resale condominium inventory is tight despite huge availability, stating that older units typically offer more space in more attractive neighbourhoods.