First two weeks of October see 34% jump in transactions…prices up 17%…BUT important to “recognize context of current statistics”…

The market for existing homes made healthy gains in the first two weeks of October – then again, this is compared to the angst-ridden days of last October.

According to the Toronto Real Estate Board, GTA realtors reported 3,631 sales of existing homes in the first two weeks of this month. This represents a 34% jump, compared with the same period last year. Buyers were obliged to dig deeper into their pockets, as the average sales price rose to $414,479, a 17% increase for the first two weeks of October 2008.

Read the full article by Helen Morris, “Robust gains for home sales as this October less spooky than last” in the National Post (Oct. 23, 2009).

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