The Toronto
Real Estate Board reported today that sales activity reached 4,153 in
January. The total volume of sales, in U.S. dollars, was $1.08 billion in
January, the board reported.
In U.S. dollars, the average price of homes in the Toronto
area was $260,052, climbing two percent since December, when the average price
was $253,686. The January 2005 average price was also 9 percent above January
2004. In 1995, the average price of a home in the Toronto area was about $164,871
in U.S. dollars.
"Although it is very early in the year, these price
figures do provide a clue as to how 2005 will work out," said Ron Abraham,
president for the Toronto board. "Once again, we will probably experience
the same moderate, sustainable, single-digit price increases that have been the
norm for the past several years."
The board reported that 1,552 sales were reported in
Toronto's West districts, 699 sales were reported in the Central districts, 895
sales were reported in the North districts and 1,007 sales were reported in the
East districts. Average home prices were highest in the Central districts, at
$350,864 in U.S. dollars.
Total days on market for homes selling in the Toronto area
has crept up slightly each month since October, reaching the low 40s in December
and January and remaining roughly level with January 2004 days on market.
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