The usual seasonal bounce in re-sale homes between September and October was more pronounced than usual this year in the Toronto region, growing 12 per cent.
But there were still 2,597 — about 27 per cent — fewer sales this October compared to the same month last year.
Home prices also rose 2.3 per cent year over year in October, but new numbers from the Toronto Real Estate Board (TREB) on Thursday showed some areas are doing better than others.
The average price of a home — including all housing types from apartments to detached houses with yards — rose 2.3 per cent to $780,104, compared to $762,691 last year.
But detached house prices were down 2.5 per cent across the region — a 4 per cent decline in the 905 area to an average price of $910,488 and, a 1.1 per cent drop in Toronto to about $1.3 million.
Condos, however, continued to perform well, up 21.8 per cent across the region to an average price of $523,041.
The divide between the City of Toronto and the surrounding region is a function of the housing stock that's on the market, said Jason Mercer, TREB's director of market analysis.
Source: Thestar.com
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