TREB Members reported 4,447 sales in December, up four per cent over the 4,255 recorded last December, and the second best total ever recorded for the month, TREB President Dorothy Mason announced today.

“December’s performance is indicative of the whole year, which saw total transactions break the 83,000 level (83,084) for only the third time since records have been kept,” noted the President. Year-over-year, the average price in 2006 rose five per cent over the $335,907 recorded in 2005 to $351,941. “This means that prices continue to outpace inflation, making home-ownership a sound investment in today’s economy and invariably in the long term.”

Breaking down the total, 1,643 sales were reported in TREB’s 28 West districts and averaged $318,364; 779 sales were reported in the 14 Central districts and averaged $408,599; 941 sales were reported in the 23 North districts and averaged $382,065; and 1,084 sales were reported in TREB’s 21 East districts and averaged $271,463.

Click to view Residential Market Update – December 2006