In October 2009, Greater Toronto REALTORS® reported 8,476 sales, up 64 per cent from October 2008. The average price for October transactions was $423,559 – up by 20 per cent compared to the same month last year.
Year-to-date sales, at 74,721, were up nine per cent compared to the first ten months of 2008. Average price, at $392,264 was up by almost three per cent.
October median home value was $357,000, this time last year saw a median value of $312,000.
After the dip last winger we have seen the average home in the GTA rebound because sales have been high relative to listings.
We expect to see more homes come on the market in 2010 as home sellers react to the strong price growth that we have seen in the latter portion of this year.