In September, TREB’s average price climbed to $349,142, a three per cent increase over August, and also up three per cent over the $338,267 recorded in September of 2005.
“Year-over-year prices currently show a five per cent increase over last year,” TREB President Dorothy Mason added. “Home ownership as an investment continues to provide returns well above the rate of inflation.” As prices rose, sales continued at a more normalized pace, with 6,622 transactions of single-family dwellings sold through the TMLS system. “While down from the 7,326 sales recorded in September of 2005, last month was still the 3rd best September performance ever recorded,” said Mrs. Mason. “Toronto’s autumn market remains solid and strong, and by year-end our final sales numbers will exceed 80,000 transactions.
Breaking down the total, 2,552 sales were reported in TREB’s 28 West districts and averaged $331,006; 1,166 sales were reported in the 14 Central districts and averaged $443,881; 1,312 sales were reported in the 23 North districts and averaged $386,360; and 1,592 sales were reported in TREB’s 21 East districts and averaged $278,154.