Toronto existing home sales surge in early November
November 18, 2009
Tony Wong
BUSINESS REPORTER
Existing home sales in the Toronto area in the first half of November were up 84 per cent compared to the same time last year.
The average price of a home was also up by 10 per cent year over year to $415,066, according to figures released by the Toronto Real Estate Board today.
The gains have been especially spectacular in comparison since the financial crisis started last fall.
"It is important to point out that we are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price," said TREB president Tom Lebour.
In the City of Toronto, the average sales price is now $441,893 compared to $400,305 last year.
In the 905 region, prices are now $395,195 compared to $358,130 last year.
thestar.com