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September resale figures show prices continuing to climb as fewer houses sold

National Post

Published: Saturday, October 07, 2006

September's resale figures are in. The Toronto Real Estate Board reports that "solid activity" in the month resulted in 6,622 sales, with an average price of $349,142. Last September's average price was $335,334 on 7,326 homes sold. A fraction under 50% of homes sold were single-family detached, 20.9% were condominium apartments and 8.7% were condo townhouses. TREB also reports that rentals for condo apartment/townhouses were up 16% for the May 1 to Aug. 31 period from the year before, citing confidence in the rental market amongst investors. New condo completions added to the inventory of available rental units. In Central Toronto, 2,108 units were rented in the four-month period; 1,179 were one-bedrooms, at $1,418 a month; 802 were two-bedrooms that rented for an average of $2,028.

Posted on Wednesday, October 11, 2006 at 10:41AM by Registered CommenterElaine in | CommentsPost a Comment

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