Toronto home sales see above average 12 per cent monthly jump in October, board says

TORONTO - The Toronto Real Estate Board says area home sales were up 12 per cent from September to October, pointing to a stronger fall market.

It adds that while sales jump between September and October every year, the increase this year was more pronounced than usual.

The group representing Toronto area real estate agents says 7,118 homes were sold in October, down 27 per cent from the same month last year.

The average selling price in October was $780,104, up 2.3 per cent compared with October 2016.

Sales in the first 10 months of the year slipped to 80,198, down 19 per cent from the same period in 2016.

A spike in Toronto-area home prices earlier this year resulted in the provincial government's imposition of a number of measures to cool the market after a shortage of detached home listings helped push up prices.

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