Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Toronto home sales surged 42% to set new September record More than 11,000 existing homes were sold at an average price of $960,772 By The Canadian Press | October 6, 2020 | Last updated on October 6, 2020 1 min read © sturti / iStockphoto It was the best September on record for Toronto home sales, with 42.3% more sales closing last month than in September 2019. The Toronto Regional Real Estate Board says 11,083 existing homes were sold in September, at an average price of $960,772. The board says the 14% year-over-year price jump was led by low-rise housing, while the condo market was slower. Board president Lisa Patel says extremely low borrowing costs contributed to the record-breaking sales figures, as did built-up demand left over from the stunted spring season. The real estate market has been playing catch up after sales plunged in the spring, when Covid-19 lockdowns prevented home showings. As of the end of September, the board says home sales for the year were 1% higher than in the first nine months of 2019. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo