I t was all good news as TREB Members reported 6,646 transactions in November, TREB President John Meehan announced today.
“The 6,646 figure is a new record for the month, up five per cent over the previous record of 6,301 sales, recorded during November of 2004,” Mr. Meehan said. “In addition, year-to-date sales have now reached 79,995, up almost one per cent over 2004. All signs point to another record year with well over 80,000 sales.” The holiday cheer extended to pricing as well, with Toronto’s average down marginally (under one per cent) to $341,177 from October, and the median remaining unchanged at $291,000. “Home owners should see about a seven per cent increase in the value of their home over 2004, which is well above the rate of inflation,” noted the President. ” On the other hand, these increases are moderate enough that affordability will not be jeopardized for either move up or first time buyers.”
Breaking down the total, 2,526 sales were reported in TREB’s 28 West districts and averaged $318,634; 1,263 sales were reported in the 14 Central districts and averaged $419,815; 1,284 sales were reported in the 23 North districts and averaged $378,682; and 1,573 sales were reported in TREB’s 21 East districts and averaged $283,622.