Sales broke a record for the 6th straight month, and prices rose to just over $250,000 in October, TREB President David Pearce reported today.
“Toronto Realtors sold 5,402 single family dwellings in October,” the President said. “That is a 8% increase from the 5,021 recorded in September, a 15% increase from the 4,696 recorded in October 2000, and up just a bit from the previous best October ever recorded by the Board, which was in 1997 when we had 5,398 sales through our MLS system.” Prices also rebounded in October, Mr. Pearce noted, up 2% to $251,479 from last month’s figure of $245,530. “This kind of modest price increase should lure potential move-up buyers into the market, but with inventory levels, (19,150 active listings) up from last year, we don’t expect any big price run-ups over the course of the next several months.”
Breaking down the total, 2,017 sales were reported in TREB’s 28 West districts and averaged $232,891; 843 sales were reported in the 14 Central districts and averaged $341,615; 1,071 sales were reported in the 23 North districts and averaged $273,962; and 1,471 sales were reported in TREB’s 21 East districts and averaged $208,944.