In December, the Toronto resale market topped off a record breaking year with a record breaking performance as 4,762 homes were traded through TREB’s MLS system, more than ever before seen during the usually slow holiday season.

“That’s up 57% from last December’s 3,026 sales, and up 15% from the 4,127 transactions recorded in December of 1996, which was the previous record,”TREB President David Pearce announced today. “Looking at 2001 as a whole, the good news just keeps coming,” Mr Pearce continued. “Total sales reached 67,612, the best yearly result ever, and Toronto-wide average prices broke $250,000 for the first time in over ten years. We fully expect the momentum to spill over into the new year.”

Breaking down the total, 1,806 sales were reported in TREB’s 28 West districts and averaged $232,845; 791 sales were reported in the 14 Central districts and averaged $345,681; 967 sales were reported in the 23 North districts and averaged $280,796; and 1,198 sales were reported in TREB’s 21 East districts and averaged $210,026.

Click to view Residential Market Update – December 2001