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Toronto's Market Conditions

Current Market Rating: 4



Current Price Trend: 4



Wednesday, October 4, 2006 -- In September, TREB's average price climbed to $349,142, a three per cent increase over August, and also up three per cent over the $338,267 recorded in September of 2005. "Year-over-year prices currently show a five per cent increase over last year," TREB President Dorothy Mason added. "Home ownership as an investment continues to provide returns well above the rate of inflation."

As prices rose, sales continued at a more normalized pace, with 6,622 transactions of single-family dwellings sold through the TMLS system. "While down from the 7,326 sales recorded in September of 2005, last month was still the 3rd best September performance ever recorded," said Mrs. Mason.

"Toronto's autumn market remains solid and strong, and by year-end our final sales numbers will exceed 80,000 transactions.

Breaking down the total, 2,552 sales were reported in TREB's 28 West districts and averaged $331,006; 1,166 sales were reported in the 14 Central districts and averaged $443,881; 1,312 sales were reported in the 23 North districts and averaged $386,360; and 1,592 sales were reported in TREB's 21 East districts and averaged $278,154.

Location Characteristics: Toronto is Canada's largest city and the provincial capital of Ontario. Toronto's population is 2,518,772 (Statistics Canada, 2004). The population of the Greater Toronto Area (GTA) is 5,203,686 (Statistics Canada, 2004). Residents of Toronto are called Torontonians (in French: Torontois). The city is part of the Golden Horseshoe region of Ontario, a densely populated region of around 7 million people. Approximately one-quarter of the Canadian population lives within the Golden Horseshoe, and about one-sixth of all Canadian jobs lie within the city limits.

Toronto is a global city, exerting significant regional, national, and international influence, and is one of the world's most multicultural cities. Toronto is Canada's financial centre and 'economic engine,' as well as one of the country's most important cultural, art, and health sciences centres. In January 2005, it was designated by the federal government as one of Canada's cultural capitals. It is one of the safest cities to live in North America; its violent crime rate is lower than that of any major US metropolitan area and is one of the lowest in Canada.


Souce: Realty Times
Posted on Thursday, November 2, 2006 at 10:12AM by Registered CommenterJoanna in | CommentsPost a Comment

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