In the first two weeks of August, Greater Toronto REALTORS reported 3,832 sales, up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.
“The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term,” said Toronto Real Estate Board (TREB) president Tom Lebour. Year-to-date sales, at 54,303 are up slightly compared to 54,138 in 2008. Average price, at $385,603 is down by less than one half of one per cent. “Strong resale housing demand will contribute to broaden economic recovery as each transaction results in substantial spin-off benefits to other sectors of the economy,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis.