With 7,498 sales, last month turned out to be the best August ever recorded in the history of the Toronto Real Estate Board, TREB President John Meehan announced today.

“Transactions were up 11 per cent over August, 2004, which was our previous record,” said the President. “They also rose about two per cent over July. It’s unusual that sales should pick up in the late summer, and signals an active fall market ahead.” The average price for August came in at $323,255, with the median at $285,000. These figures are up seven and five per cent, respectively, over the $304,509 and $270,000 recorded during August of 2004.

Breaking down the total, 2,941 sales were reported in TREB’s 28 West districts and averaged $303,042; 1,241 sales were reported in the 14 Central districts and averaged $387,424; 1,608 sales were reported in the 23 North districts and averaged $371,849; and 1,708 sales were reported in TREB’s 21 East districts and averaged $265,686.

Click to view Residential Market Update – August 2005