The Toronto Real Estate Board (TREB) released its September results earlier this week. I am happy to report that September sales totalled 8,196, representing an increase of 28% compared with the same month last year.
The growth in the average selling price was even stronger, coming in at 10%, pushing the average price to almost $407,000. The year-to-date totals are also positive, with sales and average price through the first three quarters of the year up 4.5% and 1.5% respectively. This is encouraging, given this past year's economic challenges.
I asked Jason Mercer, TREB's senior manager of market analysis, if he thought we would continue to see positive results in the fourth quarter.
"The number of existing home sales in the fourth quarter will be well ahead of the volumes experienced during the last three months of 2008," he told me. "I am confident that the number of transactions will push through the 80,000 mark and perhaps be hovering around 85,000 when all is said and done this year. That will put us in line with the level of sales experienced in the 2004 to 2006 period - some of the best years on record under the current TREB boundaries." read more >>
Tom Lebour, National Post Published: Friday, October 09, 2009
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