October sales rose one per cent over September to 6,666, making this month the 2nd best October ever, TREB President Ron Abraham announced today. “In addition to having a strong month sales-wise, prices continued their advance in October, with the average rising one per cent to $324,215 over September’s $320,911, and six per cent over the $304,844 recorded in October of 2003.”

In other highlights, Mr. Abraham noted that average Days on Market came in at 36 days, a brisk pace by historical standards, and that the average list-to-sale price ratio remained at 98 per cent, indicative of a seller’s market.

Breaking down the total, 2,564 sales were reported in TREB’s 28 West districts and averaged $298,351; 1,136 sales were reported in the 14 Central districts and averaged $441,051; 1,291 sales were reported in the 23 North districts and averaged $350,790; and 1,675 sales were reported in TREB’s 21 East districts and averaged $264,084.

Click to view Residential Market Update – October 2004