With 83,501 single-family dwellings changing hands, 2004 was the best year for sales ever recorded, TREB President Ron Abraham announced today. “The year-end total was up six per cent from the previous record of 78,898,” Mr. Abraham said. “In addition, 2004 prices were up seven per cent over 2003 to $315,231, their highest level ever recorded. The median price came in at $270,000, up six per cent over last year.”

December alone saw 4,232 sales, the second best December on the books and up one per cent over the same month last year. “The fact that we recorded over 4,000 transactions in what is usually the slowest month of the year is a good sign going forward,” Mr. Abraham noted. “2005 should get off to a healthy start.”

Breaking down the total, 1,601 sales were reported in TREB’s 28 West districts and averaged $285,749; 782 sales were reported in the 14 Central districts and averaged $417,999; 800 sales were reported in the 23 North districts and averaged $365,112; and 1,049 sales were reported in TREB’s 21 East districts and averaged $247,715.

 

Click to view Residential Market Update – December 2004