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Toronto & GTA Markets Hot throughout the Summer! Unprecedented Heights

August 17, 2007 -- Resale home transactions reached unprecedented heights in the first half of August, up 17 per cent from the same period in 2006, Toronto Real Estate Board announced today.

So far this month 3,838 properties have sold with an average price of $355,829.

"The market has shown tremendous strength in recent months," said Mr. Bentley, TREB President. "Given that August sales have been brisk thus far and that the past four consecutive months have all set records, we are looking forward to a robust fall market."

The rate at which transactions are occurring has increased over 2006 as well. On average, properties are currently on the market 32 days before selling as compared to 38 Days during the first half of last August.

The Condo Market to my surprise continues to record stellar results.  In my experience we are seeing more parents purchasing downtown condo's for their children attending university.  It's an investment, not only in real estate but perhaps in their childrens education whereby they don't live on campus or in shared dorms. 

In the Downtown Core (C01), 27 per cent more transactions took place overall compared to the same period last year as a result of a 34 per cent increase in condominium apartment sales in August 2007.

Posted: Monday, August 20, 2007 10:47 PM by Sutton Realty


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