Toronto Real Estate Board reported 6,681 MLS® sales in October 2010, a 21 per cent decrease over  the 8,476 sales recorded in October 2009. Sales amounted to 75,582 through the first ten months of the year,– up one per cent over the same period in 2009. A familiar pattern for the more balanced market we have been experiencing in the latter half of 2010.

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42 per cent of total sales in the City of Toronto  were Condo apartments and accounted for almost 60 per cent of sales in TREB’s central districts.

 In the surrounding area almost 90 per cent of transactions are the more traditional low rise properties.

Average transaction price for the month was $443,729 – up five per cent over the average of $423,559 in October 2009. Average transaction price year to date was $430,802.

Affordability looks good. When the US economic recovery  kicks in we can look forward to boom times but meanwhile – steady as she goes

                                                                                              October

                                                                      2010                                                     2009

                                                       Sales      Average Price                             Sales                            Average Price

City of Toronto ("416")             2,751              $491,157                           3,554                             $464,212

Rest of GTA ("905")                    3,930              $410,529                           4,922                             $394,205

GTA                                               6,681               $443,729                          8,476                             $423,559