Home sales in the Toronto, Canada, market dropped for the fourth straight month in September, while prices increased, the Toronto Real Estate Board reported Wednesday.

The 6,622 sales recorded through the TorontoMLS system last month were 10 percent below the 7,326 sales in September 2005, according to TREB, and were down 5 percent from August 2006.

The average price of an existing home in the metro area registered $349,142 last month, up 5 percent from the $335,334 recorded last September, and up from $338,192 in August 2006.

“We are still seeing healthy sales levels consistent with a housing market that is in very good shape,” said TREB President Dorothy Mason. “Prices are increasing steadily and demand is based on real need. …”

Despite the overall cooling, two neighborhoods reported double-digit annual sales gains, TREB reported. In Toronto’s east end, Guildwood/Scarborough Village showed 37 percent more overall transactions than the previous September, as condominium sales in the area nearly doubled from the year before. In North York City Centre West/Willowdale, a 27 percent year-over-year jump in overall transactions was recorded in September, with detached-home sales contributing strongly to the increase.

TREB reported 15,326 new single-family listings added to the market last month, bringing the total number of active listings to 26,363, up 15 percent from the year-ago level of 22,860, and up considerably from 24,031 in August.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription