The Toronto Real Estate Board (TREB) released their mid month numbers for September on Friday showing that sales transactions have increased by more than 25 percent and new listings have grown 14 percent over last year during this time period. The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010.
According to Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis,
"Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013."
Summary of TorontoMLS® Sales And Average Price
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September 1-14
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2011 |
2010 |
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Sales |
Average Price |
Sales |
Average Price |
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City of Toronto ("416") |
1,232 |
$464,825 |
943 |
$430.406 |
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Rest of GTA ("905") |
1,917 |
$447,362 |
1,567 |
$396,329 |
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GTA |
3,149 |
$454,194 |
2,510 |
$409,132 |
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Source: Toronto Real Estate Board |
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