Hot Neighborhoods Across Toronto in 2005

January 6, 2006 – With 84,145 sales in 2005, the Toronto resale home market experienced its best year ever recorded, exceeding the 2004 total (83,501) by almost one per cent.

"Sales continued to gain strength throughout the year, and especially in the second half,” noted TREB President John Meehan. "Relatively low carrying costs and high levels of consumer confidence were two of the most important drivers of the Toronto resale market."

Jason Mercer, CMHC's Senior market Analyst for Toronto, agreed, adding that, "Strong demand for ownership housing kept seller’s market conditions in place in many sub-markets throughout the GTA."

Some areas experienced particularly strong sales:

The Whitby/Oshawa (E-19) area had 392 sales, a 26 per cent increase over 2004. The average price ended the year at $303,285, up two per cent from 2004.

Halton Hills (W-27) saw a 20 percent sales increase in 2005, to 984. The average was $308,697 a six per cent increase over 2004.

Part of North York (C-14) also performed well in 2005, with 2,111 sales, 14 per cent higher than in 2004. The average price rose six per cent to $335,744.

Finally, Richmond Hill North (N-5) put in a spectacular performance in 2005, with 624 sales, up 24 per cent over 2004.

The average price ended the year at $430,354, up seven per cent.

Courtesy of the Toronto Real Estate Board