Greater Toronto Realtors reported 8,476 Sales in October 2009, up 64% from October 2008. The average price for October transactions was $423,559 - up by 20% compared to the same month last year. "Strong Sales growth has occurred across many property classes - from price ranges that would attract first-time buyers to luxury properties selling for over 1 million dollars,"said TREB President. The highest rate of sales growth in October was experienced for properties selling for over $750,000. In contrast, luxury home sales declined at an above-average rate last year."
Year-to-date sales, at 74,721, were up 9% compared to the first ten months of 2008. Average price, at $392,264 was up by almost 3%. "After a short dip in the winter, the average home price in the GTA has rebounded because sales have been high relative to listings," according to a TREB's Manager. "Watch for listings to rebound in 2010 as home owner react to the strong sales and price growth experienced in the latter half of this year.
City of Toronto, 3,554 Sales, average price - $464,212
Rest of GTA - 4,922 Sales, average price - $394,205
Total GTA - 8,476 Sales, average price - $423,559
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