The average price of a Toronto home for November of this year was $393,747. The number of units sold have been steadily climbing over the years. The strength of the real estate market represents an unprecendented 10 years of appreciation in the housing market and fourth year that sales have broken the 80,000 unit sales mark. In 1988 during a high period there were 49,381 sales.The average price of a home in Toronto has been increasing and investments have paid off:
In 1974 the average price of a home was $52,806.
In 1981 the average price of a home was $90,203
In 1989 the average price of a home was $273,698 and in 1999 it was $228,372. There have been a few years that the price went down a small amount but it recovered soon after. Of course in 1989 there was a large correction. As 2007 winds down The President of the Toronto Real Estate Board, Maureen O'Neill feels the resale home market is looking as healthy as it has ever been.
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