Toronto Housing Values 1973 - 2009

Ever Wonder How Houses Prices Have Changed Over The Years???  Well Take a look…
 
Year  Average Price 
1973  $ 40,605.00
1974  $ 52,806.00
1975  $ 57,581.00
1976  $ 61,389.00
1977  $ 64,559.00
1978  $ 67,333.00
1979  $ 70,830.00
1980  $ 75,694.00
1981  $ 90,203.00
1982  $ 95,496.00
1983  $ 101,626.00
1984  $ 102,318.00
1985  $ 109,094.00
1986  $ 138,925.00
1987  $ 189,105.00
1988  $ 229,635.00
1989  $ 273,698.00
1990  $ 255,020.00
1991  $ 234,313.00
1992  $ 214,971.00
1993  $ 206,490.00
1994  $208,921.00
1995  $ 203,028.00
1996  $ 198,150.00
1997  $ 211,307.00
1998  $ 216,815.00
1999  $ 228,372.00
2000  $ 243,255.00
2001  $ 251,508.00
2002  $ 275,371.00
2003  $ 293,067.00
2004  $ 315,231.00
2005  $ 335,907.00
2006  $ 351,941.00
2007  $ 376,236.00

The average price for September 2009 transactions was $406,877 – up by 10% compared to September 2008!

“Canada’s housing market has taken its cue more from the Great Houdini than the bear (economist Noriel)Roubini, fully escaping from the clutches of a potentially lengthy, harsh downturn,” said BMO Capital Markets deputy chief economist Doug Porter. “Record-low borrowing costs combined with the growing realization that the economic storm is passing have fuelled the remarkable turnaround. However, the gaudy sales growth will be tough to maintain now that prices are moving higher again.”

Resale activity rose in three quarters of local markets. Year-over-year gains of 117 per cent in Vancouver, 27 per cent in Toronto, 17 per cent in Calgary, and nine per cent in Montreal contributed most to the national increase in activity. Edmonton rose 8.6 per cent. August marks the third consecutive month in which year-over-year sales rose by more than 15 per cent, CREA said.

Prices also rose, although they were skewed higher by growing demand in Canada’s more expensive housing markets. The national average price rose 11.3 per cent from a year ago to $324,779 in August, CREA said.

A market-weighted average shows a more modest 5.3-per-cent year-over-year rise in average prices.

“On balance, given the recent unbelievable strength in the Canadian housing market, the modest downshift in sales in August should not be seen as anything other than a brief respite in what has been a remarkable recovery in the sector,” said TD Securities economics strategist Millan Mulraine. “Even so, we believe that Canadian housing market activity in the coming months will be relatively tepid as the sector consolidates the gains made since January.”

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