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A total of 3960 sales were reported by GTA REALTORS® through the TorontoMLS system in December 2012.

The average selling price was up by 6.5 percent from December 2011 – at $478739.

The Toronto Real Estate Board’s Senior Manager of Market Analysis, Jason Mercer, says that market conditions were tight and there was substantial buyer competition in the market.

Source: Toronto Real Estate Board

So, what do you think ?