With 5,846 homes sold through the TREB MLS system, last month was the best September ever recorded in the history of the Toronto Real Estate Board, TREB President Ann Bosley announced today.

“Sales are up 16 per cent from the September 2001 figure of 5021, which was our previous record.,” Mrs. Bosley said. “After taking a short summer breather, the residential market is back on track for another record breaking year. We look forward to an active and stable fall market.” “Average prices also jumped in September, going to $282,765 from August’s of $266,154, a six per cent increase,” Mrs. Bosley continued. “In straight dollar terms, this is the highest monthly average ever seen by the Board. However, this market remains far more affordable than that of the late 80’s. Low interest rates, coupled with low unemployment and increased immigration, are the factors pushing Real Estate towards new sales records.

Breaking down the total, 2,210 sales were reported in TREB’s 28 West districts and averaged $263,131; 970 sales were reported in the 14 Central districts and averaged $378,521; 1,207 sales were reported in the 23 North districts and averaged $305,073; and 1,459 sales were reported in TREB’s 21 East districts and averaged $230,388. ■

Click to view Residential Market Update – September 2002