The Toronto Real Estate market continued its record breaking ways in September, with 7,326 sales transacted through the TorontoMLS system, Board President John Meehan reported today.

“This figure is up 11 per cent over last year (6,588 sales), and up eight per cent over sales in September 2003 (6,751), which was our previous best September.” The President went on to note that, with 66,480 sales year-to-date, 2005 has closed to within a single percentage point of the 2004 nine-month total (66,668). “If the fourth quarter market performs as well as the previous three months,” said Mr. Meehan, “there is a strong possibility that 2005 could end up as the best year ever.” The President went on to note that prices strengthened considerably in September, with the average rising five per cent to $338,267 over the August figure of $323,255. In addition, the year-to-date average, at $335,267, is up seven per cent over 2004.

Breaking down the total, 2,809 sales were reported in TREB’s 28 West districts and averaged $318,293; 1,295 sales were reported in the 14 Central districts and averaged $430,000; 1,456 sales were reported in the 23 North districts and averaged $374,135; and 1,766 sales were reported in TREB’s 21 East districts and averaged $273,201. ■

Click to view Residential Market Update – September 2005