October 5, 2009

The Toronto Real Estate Board announced today that existing home sales in Toronto were up 28% in September, as compared to last year.

“We have experienced an increasing rate of existing home price growth in the GTA as sales have continued outpace 2008 results,” said TREB President Tom Lebour. “Consumers have remained confident in ownership housing as a long-term investment.”

According to TREB, 8,196 sales were reported. Also up is the average price for September transactions – with an average transaction of $406,877, this marks a 10% increase as compared to the same month last year!

Year-to-date sales, at 66,437 were up 4.5 per cent compared to the first nine months of 2008. Average price, at $388,417 was up by almost 1.5 per cent.

“Existing home sales will finish strong this year, pushing through the 80,000 mark and moving in line with some of the best years on record under the current TREB market area,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis.

Woot! Woot!

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