After climbing 8% in September, average home prices stabilized at $245,321 in October, down 1% from the previous month but up 6% from the $230, 864 recorded at the same time last year, TREB President Marilyn Baubie announced today. In addition, the President noted that sales were down minimally from both last month and last year when October saw 4,767 sales through the MLS system.
“Although the market seems to have slowed modestly, it should be noted that seasonal factors and the fact that we are comparing current statistics to two years of record setting sales have influenced the outcome” Ms. Baubie said. “All indications are that a strong market will continue.”
Breaking down the total 1,742 sales were reported in TREB’s 28 West districts and averaged $221,841; 825 sales were reported in the 14 Central districts and averaged $355,055; 854 sales were reported in the 23 North districts and averaged $262,234; and 1,275 sales were reported in TREB’s 21 East districts and averaged $195,069.