With 3,236 sales so far this month, re-sale housing activity has increased 11 per cent as compared to the first half of September 2006, Toronto Real Estate Board President Maureen O’Neill announced today.
The past five consecutive months have been record-breakers and September is on track to follow suit. It is four per cent ahead of the 3,112 recorded during the first half of September 2005, which became the best September ever.
“Some economists who predicted a soft landing may have to revise their forecasts, said O’Neill. The real estate market continues to prove its strength month after month. There simply is no better investment.”
The average price for a home in the Greater Toronto Area currently stands at $364,364, an increase of nine per cent compared to first half of September 2006.
Neighbourhoods throughout the Greater Toronto Area reported strong sales in the first two weeks of this month.
The High Park area of Toronto (W2) saw twice as many sales compared to mid-September 2006, due to a sizeable increase in the sale of semi-detached homes.
West Agincourt in Scarborough (E04) saw 51 per cent more homes sell in the first half of September compared to the same timeframe a year ago, showing strength in all housing categories.
In the downtown core (C01), condo-apartment activity pushed the area’s overall total 40 per cent higher than sales to mid-September 2006.
Condominiums were also the driving force behind a 29 per cent increase in overall mid-month sales in South Richmond Hill (N03).
“The market is showing strength in a wide range of neighbourhoods and housing types, said O’Neill.
We’re seeing strong activity and stable price growth so there is a lot to be positive about.”
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving more than 26,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are available on www.TorontoRealEstateBoard.com
Source: Toronto Real Estate Board
Friday, September 21, 2007
Friday, September 07, 2007
August sets the stage for a strong autumn market
More people in the Greater Toronto Area bought resale homes last month than in any August before, Toronto Real Estate Board President Donald Bentley announced today.
The 8,059 sales reported last month exceeded the previous best performance for August, set in 2005, by seven per cent.
August also brought year-to-date figures up 13 per cent over the same period last year. So far this year 67,146 homes have sold as compared to 59,488 at this time in 2006. The pace is also 13 per cent ahead of the same timeframe in 2005, which became the best year on record.
“With five consecutive record-breaking months, spring and summer activity was unprecedented and given the strong economic fundamentals that remain in place, we have tremendous confidence in the autumn housing market,” said Mr. Bentley.
The Greater Toronto Area’s strongest sales activity in August took place in widely diverseneighbourhoods.
In West Agincourt (E05) a jump in the sale of detached homes and condo apartments resulted in a 34 per cent overall increase compared to last August.
An increase in the sale of detached homes and condo apartments also resulted in an overall increase of 52 per cent in High Park (W02).
In Toronto’s Davisville (C10) the sale of semi-detached homes and condo apartments pushed overall activity in the district to a 58 per cent increase over August 2006.
Richmond Hill South (N03) showed a 43 per cent increase, led by condo apartment and detached home sales.
“Prices moderated in August, down approximately one per cent from the previous month, meaning that there will be many opportunities within reach during this autumn market,” said Mr. Bentley.
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving more than 26,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are available on www.TorontoRealEstateBoard.com.
Source: Toronto Real Estate Board
The 8,059 sales reported last month exceeded the previous best performance for August, set in 2005, by seven per cent.
August also brought year-to-date figures up 13 per cent over the same period last year. So far this year 67,146 homes have sold as compared to 59,488 at this time in 2006. The pace is also 13 per cent ahead of the same timeframe in 2005, which became the best year on record.
“With five consecutive record-breaking months, spring and summer activity was unprecedented and given the strong economic fundamentals that remain in place, we have tremendous confidence in the autumn housing market,” said Mr. Bentley.
The Greater Toronto Area’s strongest sales activity in August took place in widely diverseneighbourhoods.
In West Agincourt (E05) a jump in the sale of detached homes and condo apartments resulted in a 34 per cent overall increase compared to last August.
An increase in the sale of detached homes and condo apartments also resulted in an overall increase of 52 per cent in High Park (W02).
In Toronto’s Davisville (C10) the sale of semi-detached homes and condo apartments pushed overall activity in the district to a 58 per cent increase over August 2006.
Richmond Hill South (N03) showed a 43 per cent increase, led by condo apartment and detached home sales.
“Prices moderated in August, down approximately one per cent from the previous month, meaning that there will be many opportunities within reach during this autumn market,” said Mr. Bentley.
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving more than 26,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are available on www.TorontoRealEstateBoard.com.
Source: Toronto Real Estate Board
Subscribe to:
Posts (Atom)