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In October, 8,000 sales were reported through the TorontoMLS system. Total sales were up 19 per cent compared to October 2012. The average selling price in October was $539,058, representing an increase of 7 per cent compared to the average of $502,127 in October 2012. The increase of sales occurred in all major house types.

According to Jason Mercer, TREB’s Senior Manager of Market Analysis, the average selling price will continue to grow in the rest of 2013 and through 2014 due to low inventory level for ground-oriented home types and strong demand in home ownership.

Source: Toronto Real Estate Board

So, what do you think ?