With November continuing a record breaking streak for a sixth consecutive month, 2003 will be the best year ever for the Toronto real estate market, TREB President Cynthia Lai announced today.
“With residential sales reaching 74,764, the 11 month total is already above the 74,759 sales recorded in all of 2002,” the President said. “By the end of December, we should be up five per cent over last year’s figure, and closing in on the 80,000 sale mark. It will be a truly remarkable end to a remarkable year.”
Sales for November reached 5,847, besting the previous record November (November 2002, with 5,537 sales) by about six per cent.
Breaking down the total, 2,207 sales were reported in TREB’s 28 West districts and averaged $282,696; 1,006 sales were reported in the 14 Central districts and averaged $407,632; 1,134 sales were reported in the 23 North districts and averaged $321,582; and 1,500 sales were reported in TREB’s 21 East districts and averaged $243,244.