In June, the Toronto Area resale housing market was nearly 20 per cent more active than a year ago, Toronto Real Estate Board President Donald Bentley announced. The 10,451 sales recorded in the month were also just shy of the 11,146 sales that made May TREB’s most active single month ever.
“This market is very healthy and shows no signs of letting up,” Mr. Bentley said. “The strong spring we’ve seen is carrying through to the summer months, and that has helped to push this year’s total activity past 2006 bynearly 11 per cent.”
Toronto’s Danforth / Woodbine Heights area (E03) saw overall transactions jump by 32 per cent compared to last June, with gains across most housing types.
Strong sales of condominium apartments and town homes in Mississauga’s Northwest Cooksville (W15) area contributed to an overall increase in activity of 57 per cent compared to June 2006.
Detached home sales in Bayview / Hillcrest Village (C15) nearly doubled as overall transactions increased by 39 per cent compared to June of last year.
Just north of the city, Richmond Hill’s southern portion (N03) saw a 48 per cent increase in transactions compared to the same timeframe one year ago.
“The current market is exceeding expectations because it has very solid fundamentals to build upon,” TREB’s President added. “We have seen good returns on investment, and a strong economy and low borrowing costs have kept homes accessible. It’s a great time to be in the market.”
Source: Toronto Real Estate Board