Blog by Carol Lome, Broker

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Sales and Price Growth in September

September 2008. The average price for these transactions was up eight per cent year-over-year to $393,818.

"An increasing number of positive reports pointing to economic recovery coupled with low interest rates have kept households confident in purchasing a home," said TREB President Tom Lebour.

Year-to-date sales, at 61,676 are up three per cent compared to 59,971 in 2008. Average price, at $386,302, is up by one per cent from $383,776.

"Tighter market conditions since May, as evidenced by rising sales relative to listings and declining average days on the market, have resulted in stronger average price growth," explained Jason Mercer, TREB's Senior Manager of Market Analysis.

- In the first two weeks of September, Greater Toronto® reported 3,361 sales – up 23 per cent compared to the first two weeks of

Summary Of September Sales And Average Price

September

                                                                  2009                                              2008

                                                     Sales              Average Price           Sales            Average Price

City of Toronto ("416")            1,280              $415,126               998               $386,524

Rest of GTA ("905")                2,081              $380,712                1,728            $354,395

GTA                                    3,361              $393,818                 2,726            $366,158

 

Source: Toronto Real Estate Board TORONTO, September 16, 2009

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