A record number of homes sold in the Greater Toronto area in September as the market jumped 11 percent from a year ago, the Toronto Real Estate Board announced today.
Realtors said 7,326 sales transacted through the TorontoMLS system last month, up from 6,588 in September 2004.
“Not only is this a significant increase over last year, it is also an 8 percent increase over September 2003, the previous record,” said TREB President John Meehan. “This is encouraging, as a strong start to the autumn market can help establish a solid foundation for the remainder of the season.”
Pockets of exceptionally high activity during the month could be found both within the city of Toronto and in surrounding areas, the association reported.
In the East, sales of detached homes led Central Pickering to an increase of 53 percent over September 2004.
The Cooksville/Port Credit area of Mississauga showed a 28 percent increase in transactions for the month, compared with the previous year.
Toronto’s Downtown/Harborfront area rose 35 percent compared to a year earlier, based on a high percentage of condominium transactions.
Condominium sales also helped North York Centre post an increase of 34 percent over the same timeframe.
The median price for a home in the Greater Toronto area at the end of September was $290,000, up 1.8 percent from the previous month.
The Toronto Real Estate Board serves more than 22,000 Realtors throughout the Greater Toronto area.
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