| Friday
November 2, 2001. |
| Toronto Residential Real Estate Market Report for October 2001 |
| Sales and Prices Both Up in Sixth Consecutive Record Breaking Month |
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Sales broke a record for the 6th straight month, and prices rose to just over $250,000 in October, TREB President David Pearce reported today. “Toronto Realtors sold 5,402 single family dwellings in October,” the President said. “That is a 8% increase from the 5,021 recorded in September, a 15% increase from the 4,696 recorded in October 2000, and up just a bit from the previous best October ever recorded by the Board, which was in 1997 when we had 5,398 sales through our MLS system.” |
| Prices also rebounded in October, Mr. Pearce noted, up 2% to $251,479 from last month’s figure of $245,530. “This kind of modest price increase should lure potential move-up buyers into the market, but with inventory levels, (19,150 active listings) up from last year, we don’t expect any big price run-ups over the course of the next several months.” |
| Breaking down the total, 2,017 sales were reported in TREB's 28 West districts and averaged $232,891; 843 sales were reported in the 14 Central districts and averaged $341,615; 1,071 sales were reported in the 23 North districts and averaged $273,962; and 1,471 sales were reported in TREB's 21 East districts and averaged $208,944. |