A pattern of fewer sales over last year but nonetheless rising average prices for Toronto area homes of most types seems to be holding, according to the The Toronto Real Estate Board. TREB said Thursday that 7,118 homes were sold in October, up from the month before but down 27 per cent from the same month last year. “Every year we generally see a jump in sales between September and October. However, this year that increase was more pronounced than usual compared to the previous ten years,” said board president Tim Syrianos. The average selling price in October was $780,104, up less than one per cent from September but up 2.3 per cent compared with October 2016. Price growth was driven by appreciation in the townhouse and condo segments. Detached home prices were down 2.5 per cent year-over-year at $1 million. Prices of semi-detached homes rose 6.3 per cent to $764.293. But 2017 it has been a standstill year for sellers as the chart below shows.
