So here we are in the last quarter of 2009 and I thought I would share some key information explaining the housing market and the changes we’ve seen this year compared to 2008 and 2007.
Despite the extremely slow start to the year, 2009 will finish up being one of the best years in the history of the Toronto Real Estate Board. Sales and prices have been rapidly recovering from our low in February and March 2009. The latest September numbers have just come in and the highlights are impressive. A reported 8196 sales took place, up 28 percent from September 2008. Even with the low inventory levels the sales volume is huge. The average price for September transactions was $406,877 – up by 10 percent compared to the same month last year.
To illustrate these changes I’ve attached the latest Toronto Real Estate Charts.