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With
9,434 sales recorded last month, May
2006 has proven to be the best month ever recorded in the 86 year
history of the Toronto Real Estate Board, TREB President John Meehan
announced today. "The May figure is up over two per cent from May 2005,
when 9,209 sales were recorded, and up almost two per cent over the
previous best ever month, June 2004, when 9,275 sales were recorded. The
Toronto re-sale market is as healthy as it has ever been."
The
president noted that the average price came in at
$365,537 last
month, compared to April's $366,683. "The key is that 17,685 new
listings came onto the system in May, which pushed total inventory
levels to 26,220 active listings at month-end. Both figures are up
considerably over their year ago levels (seven and five per cent,
respectively), and this is keeping price inflation to a reasonable
level."
Breaking
down the total, 3,504 sales were reported in TREB’s 28 West districts
and averaged $340,841; 1,739 sales were reported in the 14 Central
districts and averaged $483,682; 1,898 sales were reported in the 23
North districts and averaged $390,999; and 2,293; sales were reported in
TREB’s 21 East districts and averaged $292,600.
NEIGHBOURHOOD CORNER
Brampton
Brampton
(W-23 and W-24) has seen 3,296 sales during 2006, up marginally from the
3,292 recorded to the same time last year. The majority of re-sales in
this area were of detached (1,837) and semi-detached (731) houses. The
average for detached was $341,585, a seven per cent increase over 2005;
the average for semis was $265,103, up five per cent over 2005.
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